Top 5 VC Deals of the Week in AI (8/5/26)

By Christopher Robbins · Aug 6, 2026 Views: 4

Our Top 5 VC Deals of the Week in AI featured funding announcements from Antora Energy, Function, Olix, Xsight Labs, and Horizon3

This week we continue our series on the top 5 VC-funded deals in AI.

This week our overall AI venture capital activity accelerated from prior weeks, with all five of our listed announcements coming in over $250 million and 12 announcements total coming in over $100 million.

The biggest announcement, per FinSMEs, came from San Jose, Calif.-based energy storage provider Antora Energy, which raised a $550 million Series C to "accelerate the deployment of large-scale projects across the country, expand production, establish a second U.S. manufacturing hub, and strengthen its domestic supply chain," according to its announcement. Our second-place announcement was from the healthcare space, where New York-based Function raised $450 million to "accelerate its expansion and bring its platform to millions more people faster," according to its announcement. Rounding out the top 5 are announcements from the AI infrastructure and security spaces.

Smaller funding raises that did not quite make our top 5 this week included announcements from the mobility, AI development and cybersecurity sectors.

Below, we highlight the top five venture capital deals, ranked from the highest to the lowest funding amounts, showcasing the companies at the forefront of the AI revolution...

Top 5 Venture Capital Deals from July 30 - August 5

1. Antora Energy

Company Location: San Jose, CA
Description: Provider of energy storage solutions for industrial facilities, AI data centers, and the electric grid, enabling reliable, low-cost energy for high-demand applications.
Funding Amount: $550 million
Funding Round: Series C

2. Function

Company Location: New York City, NY
Description: Provider of a personalized health intelligence and diagnostic laboratory platform that leverages data and AI to deliver individualized health insights.
Funding Amount: $450 million
Funding Round: Growth funding

3. Olix

Company Location: London, United Kingdom
Description: Builder of infrastructure designed to support frontier AI inference, delivering the compute foundation needed to deploy advanced artificial intelligence models at scale.
Funding Amount: $312 million
Funding Round: Series B
Valuation: $3.3 billion

4. Xsight Labs

Company Location: Tel Aviv, Israel
Description: Provider of intelligent connectivity solutions for next-generation hyperscale, edge, and AI data center networks, enabling high-performance networking for AI infrastructure.
Funding Amount: Over $300 million
Funding Round: Venture funding
Valuation: $2.8 billion post-money

5. Horizon3

- - - Company Location: San Francisco, CA
    - Description: Developer of an AI-native proactive security platform that helps organizations identify, prioritize, and remediate cybersecurity vulnerabilities before they can be exploited.
    - Funding Amount: $250 million
    - Funding Round: Series E
    - Valuation: Over $2 billion

Make sure to check out our Top 5 VC Deals of the Week in AI right here!

Written & Researched by DWN Staff

VC Deals Synopsized by ChatGPT Research Source: FinSMEs