· Venture Capital Tracker · investment-strategies · 1 min read
Week of May 18–23, 2026: $2.5B+ in Startup Funding — Modal, Decart, Hark Lead
AlleyWatch tracked 34 deals and $2.53B for the week ending May 23 — from Modal's $355M to Hark's $700M Series A, here's what mattered.
One week. $2.53 billion. If you’re not paying attention to May 18–23, 2026, you’re fundraising blind.
Top of the leaderboard
- Hark — $700M+ Series A @ $6B (personalized AI lab)
- Modal Labs — $355M Series C @ ~$4.65B (AI infra, NYC)
- Decart — $300M (world models; NVIDIA in round)
- Amca — $300M Series B (industrial base)
- Mercury — $200M @ $5.2B (startup banking)
Next tier still matters
- Exa — $250M AI search @ $2.2B
- RADAR — $170M retail AI (NYC)
- Armada — $230M Series B @ $2B pre (edge/infra)
- Farther — $150M wealth (NYC)
- Primer — $100M payments AI
Three takeaways (no fluff)
1. AI dollars split three ways: models/worlds (Decart, Hark), infrastructure (Modal, Exa), applied verticals (RADAR, Moment).
2. Fintech is B2B again: Mercury through Checker — plumbing, not perks.
3. NYC punched up: Modal, RADAR, Farther, Nourish, Moment, Eisen — six figure-eight-figure deals in one ecosystem week.
What founders should do Monday morning
- Update your comp set and valuation anchors.
- Rewrite one slide: production metrics (stores, ARR, accuracy, AUM on platform).
- Kill any sentence that says “we’re AI-powered” without saying what got better for the customer.
Sources
- AlleyWatch (5/25/26 report): https://alleywatch.com/2026/05/the-weekly-notable-startup-funding-report-5-25-26/
- Crunchbase biggest rounds (May 18–22): https://news.crunchbase.com/venture/biggest-funding-rounds-medical-devices-futuristic-ai-gadgets-frontier-labs-mirus/
- VC News Daily: https://vcnewsdaily.com/
Editorial note: AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.