October 11, 2025

Hi there,

If you’re attending ITC Vegas next week, make sure you:

Download the CB Insights app to scout companies on the fly + have endless cocktail party topics in your pocket
Join Chris Sekerak for the Insurtech 50 Reveal on October 16 at 11:00 AM.

And now, here are this week's top research briefs.

ICYMI

State of Fintech Q3’25 Report

CB Insights and Money20/20 have partnered on the Q3’25 State of Fintech Report, CB Insights’ quarterly breakdown of the trends shaping fintech’s next wave of growth.

Early-Stage Trends Report: Smart Money is all in on AI agents, the rise of autonomous labs, and more in September

We analyzed 1,400+ early-stage deals in September to identify the most promising companies, top investors, and emerging categories to watch based on CB Insights predictive intelligence.

september-early-stage-deal-activity-LP-1019x1024

Book of Scouting Reports: AI in Preclinical Development

We dive into the data on high-momentum, private AI companies targeting the preclinical development stage of drug R&D.

Dual AI engines: LLMs and optimizers sweep September mega-round funding

We look into the tech companies that raised $100M+ rounds in September to uncover signals on market momentum, strategic plays, and the rise of AI model optimization.

Customer-Exclusive Research

140+ companies rewriting the legal industry

We mapped 140+ startups across 11 legal tech markets to discover which markets are gaining momentum, identify investment opportunities, and find potential partners in the legal tech space.

The new industrial revolution: How SpaceX is driving the emerging space economy

We analyzed SpaceX's acquisitions, investments, and partnerships since Q4’23 to surface the company's strategic priorities.

The military-startup complex: How Silicon Valley is reshaping the defense industry

We analyzed CB Insights data to examine record defense tech funding, understand global investment trends, and identify how companies can navigate the new military-startup complex.

Have a great weekend.

I love you.

Anand

@asanwal

Co-Founder & Exec Chair

P.S. Want to learn about the fintech companies shaping the future of the industry? Register for our briefing on the 2025 Fintech 100 here.

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