Q2's most active markets.

Money 20/20 2025.

Insurtech 50 applications.

 

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July 9, 2026

Venturing out

Hi there,

 

Here’s what we’re watching this week:

  1. Q2’s most active tech markets
  2. A lookback on Money20/20 2025
  3. Insurtech 50 winners raise $1B+

Let’s get into it.

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Q2'26 venture data shows physical AI deal activity converging at the top. Here are the markets leading the deals. 

Among the venture landscape's top markets by deal count, industrial humanoid robot developers and robot foundation model developers claimed two of the top three spots, with 20 and 15 deals, respectively.

 

These raises include headline rounds like:

  • NEURA Robotics: AI-enabled collaborative robots ($1.4B Series C at a $7B valuation)
  • Mind Robotics: collaborative robot platform ($400M Series B at a $3.4B valuation just a year after founding)
  • Generalist: AI robotics research company ($400M Series B at a $200M valuation)
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Analyst perspective white
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“Physical AI is enabling new robot capabilities that were not possible a couple years ago, propelling industrial humanoids and robot foundation models to lead deal count. Deals alone obscure the picture though. Anthropic raised a massive round, pushing five markets past $65B, a reminder that deal count is a cleaner read on market activity than funding totals this quarter.”

 

Benjamin Lawrence

Senior Lead Analyst @ CB Insights

Check out our live State of Venture tracker to see real-time global data and intelligence on dealmaking, funding, and exits.

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Money20/20 Money Awards update: Who will raise next?

Eight months after the 2025 Money Awards, CB Insights and Money20/20 partnered to track what the winners did next, using CB Insights’ predictive signals. One of them, the Funding Window model, estimates when a company is likely to raise again.

 

As of June 2026, six companies within their Funding Window, including:

  • Yellow Card: stablecoin payment infrastructure and on/off-ramp services
  • Agree: AI-powered contract-to-cash platform
  • Branch: earned wage access, paycard alternatives, and workforce payments tools for labor-intensive industries

The prediction is already showing traction. Taktile, which was flagged as likely to raise, announced a $110M Series C one day after the report’s data cutoff.

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The broader takeaway: awards can spotlight strong fintech companies, but CB Insights predictive signals help show which ones are turning that momentum into their next phase of growth.

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CB Insights' 2025 Insurtech 50 winners have raised $1.1B in the last nine months. Who's next on the list?

We launched the 2025 Insurtech 50 last October at ITC Vegas, naming the 50 most promising private insurtech startups from agency renewals to embedded insurance platforms.

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Since then, its winners have raised $1.1B across 14 equity deals, including $100M+ mega-round deals like:

  • Upstage: AI-enabled insurance operations platform ($381M Series C)
  • Reserv: Claims automation ($125M Series C)
  • Federato: AI-native platform for the full policy lifecycle ($100M Series D)

The 2025 winners also created 1,600+ jobs, pushing median headcount up 35% over the past year, and landed partnerships with incumbents like ADP, Munich Re, and Visa.

 

Tomorrow, CB Insights launches applications for its 2026 Insurtech 50 list of the world’s most promising insurtech startups. Apply here in just 10 minutes.

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“Given the outcomes across the Insurtech 50, the real question is why any growth-focused insurance company would still be sitting on the insurtech sidelines.”

 

Chris Sekerak

Lead Analyst, Insurtech Research @ CB Insights

Teal More CBI Research
  • The State of Venture Tracker
  • The Money Awards 2025 Winner Performance Tracker
  • Insurtech 50: The most promising insurtech startups of 2025

 

We love you.

    The CB Insights Newsletter Team

     

    P.S. Want to know more about where venture is heading in 2026? Get the recording of our State of Venture briefing here.

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