NYC Startups Raise Over $2B in New Funding
NYC's tech scene is seeing a major influx of capital, with several large funding rounds announced. Mental health platform Grow Therapy raised a $150M Series D, while Reflection AI is reportedly in talks to raise $2B for its open LLM development. Additionally, Fig Security raised $38M and Smack Technologies secured $32M for national security AI.
Reflection AI's reported $2B funding round was led by Nvidia, with participation from former Google CEO Eric Schmidt, valuing the Brooklyn-based startup at $8 billion. Founded by ex-Google DeepMind researchers, the company is developing open-source Mixture-of-Experts (MoE) models, positioning itself as a U.S. alternative to OpenAI and China's DeepSeek. The national security AI funding highlights a focus on founder experience. Smack Technologies was co-founded by two MARSOC veterans to build a "frontier AI lab" for the military, aiming for "Decision Dominance" through deep reinforcement learning. Fig Security, founded in March 2025 with offices in New York and Tel Aviv, emerged from stealth to help SecOps teams map and secure their detection and response pipelines. Grow Therapy's Series D funding brings its total raised to $328M and its valuation to a reported $3 billion.
