Worcester Business Journal

22 Worcester Business Journal | November 2, 2026 | wbjournal.com Notable venture capital deals Ranked by funding amount, then transaction date Company Industry/ products and services Funding amount/ type/ transaction date Select investors Head of company 1 Commonwealth Fusion Systems (CFS) Devens cfs.energy Clean energy/ Alcator C-Mod compact, high-magnetic field tokamak, high-temperature superconducting (HTS) magnets for fusion energy generation $1,000,000,000 Series B July 2026 Hyundai Motor Group, Greycroft Bob Mumgaard CEO 2 Neogenyx Fuels, an Ameresco Co. Framingham neogenyxfuels.com Clean energy/ Biofuel and renewable natural gas infrastructure projects $300,000,000 Private equity May 2026 HASI Michael T. Bakas CEO 3 VulcanForms Devens vulcanforms.com Manufacturing/ Metal components $220,000,000 Series D Jan. 2026 1789 Capital, Eclipse, IEQ Capital, Fontinalis Partners Kevin Kassekert CEO 4 Solmetex Northborough solmetex.com Biotechnology/ Dental products $200,000,000 Private equity Oct. 2025 GTCR Gene Dorff CEO 5 Tortugas Neuroscience Framingham tortugasneuro.com Biotechnology/ Novel medicines for neurological conditions $106,000,000 Series A April 2026 AN Ventures, Cure Ventures, The Column Group Jeff Jonas CEO 6 Alzheon Framingham alzheon.com Life sciences/ Therapeutics for Alzheimer's and other neurological disorders $78,797,184 Series F Sept. 2026 N/A (1) Martin Tolar founder, president & CEO 7 Level 99 Natick level99.com Recreation/ Indoor entertainment complex with physical and mental challenge rooms, arena-style competitions and a Night Shift Kitchen & Tap restaurant and bar $50,000,000 Private equity July 2026 Act III Holdings Matt DuPlessie founder & president 8 Leal Therapeutics Worcester lealtx.com Life sciences/ Brain-penetrant therapies for high-need CNS and metabolic disorders $30,000,000 Series A Aug. 2026 Eli Lilly, PhiFund Ventures, OrbiMed, Newpath Management, Euclidean Capital, Dementia Discovery Fund, Chugai Venture Fund, Alexandria Venture Investments Asa Abeliovich founder & CEO 9 Lifeward (2) Hudson golifeward.com Biotechnology/ Wearable robotic exoskeleton $27,000,000 Post-IPO equity Jan. 2026 Oramed Pharmaceuticals Mark Grant president & CEO 10 Pulmatrix Framingham pulmatrix.com Biotechnology/ Therapies for respiratory diseases $19,000,000 Post-IPO equity March 2026 Rapha Capital Management Peter Ludlum interim CEO 11 DualBird Westborough dualbird.io Information technology, analytics/ Cloud-native acceleration for data processes $16,462,970 Series A Nov. 2025 Lightspeed Venture Partners, Bessemer Venture Partners, Angular Ventures Gilad Tal co-founder & CEO 12 Kula Bio Natick kulabio.com Agriculture & biotechnology/ Microbes to provide a reliable alternative to traditional nitrogen fertilizers $15,483,411 Series A Nov. 2025 Undisclosed Harrison Yoon CEO 13 Curadel Surgical Innovations Natick curadelpharma.com Biotechnology/ Contrast agents for image-guided surgery $14,479,902 Venture - series unknown Oct. 2025 Undisclosed John V. Frangioni CEO 14 XL Batteries Marlborough xlbatteries.com Clean energy/ Long-duration, grid-scale organic flow batteries $12,964,901 Venture - series unknown July 2026 Undisclosed Tom Sisto co-founder & CEO 15 Legato Audio Millis legatohearing.com AI & medical devices/ AI-powered, over-the-counter hearing- assistance glasses $12,000,000 Seed Aug. 2026 Neotribe Ventures, Village Global, Listen Ventures Mihul Trivedi founder & CEO 16 Precision Optics Corp. Littleton Aerospace & biotechnology/ Advanced optical and medical instruments $10,000,000 Post-IPO equity March 2026 N/A (3) Joseph N. Forkey president & CEO 17 Bluejay Diagnostics Acton bluejaydx.com Biotechnology/ Biomarker detection platform $8,500,000 Post-IPO equity June 2026 N/A (4) Neil Dey president & CEO 18 DualBird Westborough dualbird.io Information technology, analytics/ Cloud-native acceleration for data processes $8,000,000 Seed Nov. 2025 Lightspeed Venture Partners, Uncork Capital, Bessemer Venture Partners, Angular Ventures Gilad Tal co-founder & CEO 19 Square Robot Westborough squarerobot.com Manufacturing/ Robotic systems for submerged oil and gas inspections $7,500,000 Venture - series unknown Dec. 2025 Undisclosed David Lamont CEO 20 Teragen Energy Southborough teragenenergy.com Clean energy/ Regenerative fuel cell systems $6,000,000 Pre-seed Aug. 2026 Energy Capital Ventures, UntroD Capital, Mass. Clean Energy Center, BEVC, AP Ventures, AIC Ventures Ruofan Wang co-founder & CEO Source: Crunchbase. Notes: Deals completed from Oct. 1, 2025 through Oct. 7, 2026 were considered for this list. N/A=not available. (1) Issuance of preferred stock (2) Formerly ReWalk Robotics (3) Underwritten offering of 2,777,777 shares of common stock (4) Private placement -Compiled by: Stephanie R. Meagher, research@nebusinessmedia.com F O C U S BANKING & FINANCE

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