Howdy folks,

Welcome to the 37th edition of the Dallas Venture Deals newsletter.

July was about infrastructure. Augustus raised $180M at a $1B valuation to build a clearing bank chartered right here in Dallas. DataBahn raised $40M for the pipes moving enterprise telemetry, Cardinal Data Power pulled in $70M for gigawatt-scale data centers, and Resolute Grid raised $18.2M to manufacture American-made transformers. Fittingly, the Texas Stock Exchange began trading operations on July 6. Y'all Street finally has its own venue.

DFW capital also showed up in notable rounds: Disruptive in Helsing's $1.8B Series E, the biggest defense tech round in European history, and Maverick Capital in Xsight Labs' $300M+ raise. Spring Valley Acquisition Corp. III took General Fusion public, creating the first publicly traded pure-play fusion company.

Now let's get into it.

Venture Deals

DFW-Based Company Fundings

Augustus (Dallas, TX / New York, NY), a clearing bank building dollar infrastructure for international fintechs and banks, raised $180M in a Series B at a $1B valuation led by Tiger Global, with participation from Hummingbird, QED, and the founders of Nubank, Ramp, Circle and Deel. Formerly Ivy, a Berlin payments company, Augustus received conditional OCC approval in May to charter Augustus Bank, N.A. The bank is headquartered in Dallas and led by President Greg Quarles, an 18-year OCC veteran and former CEO of United Texas Bank. The bank could open as soon as September.
The Boardroom Mastermind (Grapevine, TX), a real estate education company operating peer groups for investors, raised a $1.7M Seed round from undisclosed investors.
Brava (Carrollton, TX), a developer of hidden orthodontic braces placed behind the teeth, raised $5M in a deal from undisclosed investors.
Cardinal Data Power (Dallas, TX), a developer of gigawatt-scale data centers powered by on-site generation, raised a $70M Series A led by Hood River Capital Management with participation from Empery Digital.
Climb Group (Dallas, TX), a provider of Databricks-focused data and AI consulting services for enterprises, raised a $1.4M Seed round from undisclosed investors.
DataBahn (Dallas, TX), an agentic data control plane for enterprise telemetry, raised a $40M Series B led by Insight Partners with participation from Forgepoint, GTM Capital, and S3 Ventures.
Frontlands (Dallas, TX), a provider of asset-backed lines of credit secured by mineral and royalty rights, raised $4M in a deal from undisclosed investors.
Long Angle (Dallas, TX), a provider of community and investment resources for high-net-worth individuals, raised a $7.05M Series A led by Collins Resources.
Plotsy (Dallas, TX), a developer of AI-powered streaming entertainment for independent fiction stories, raised a $2M Seed round led by Pier 88 Investment Partners.
Resolute Grid (Rockwall, TX), a producer of American-made transformers and hardware for electrical transmission systems, raised $18.2M in a deal with participation from Stage 1 Ventures and Wave Function Ventures.

DFW-Based Investor Transactions

American Heart Association Ventures (Dallas, TX) co-led a $5.7M oversubscribed Seed round for Aurenar (St. Louis, MO), a medical technology company advancing its V-Link neuromodulation platform for critical care. The round was co-led through the Go Red for Women Venture Fund™ alongside Solas BioVentures.
Beyond Capital Ventures (Dallas, TX) announced an investment in BimaKavach (Bengaluru, India), an AI-native commercial insurance platform serving India's Micro, Small, and Medium Enterprises.
Caterpillar (Irving, TX) acquired Skycatch (San Francisco, CA), a drone-based geospatial data and AI platform for mining.
Cubit Capital (Dallas, TX) participated in a $26M Seed round for Fluxco (Austin, TX), a digital platform for sourcing and procuring electrical transformers. The round was co-led by Congruent Ventures and 8VC, with additional participation from White Star Capital, Trust Ventures, Overture VC, and New System Ventures.
Disruptive (Dallas, TX) participated in a $1.8B Series E for Helsing (Munich, Germany), a European defense AI company, at an $18B post-money valuation. The round was co-led by Dragoneer Investment Group and returning investor Lightspeed, with participation from ICONIQ, Goldman Sachs Asset Management, JPMorganChase, CPP Investments, StepStone, Accel, Greenoaks, and General Catalyst. It is the largest funding round ever for a European defense technology company.
Diodes Incorporated (Plano, TX) entered into a definitive agreement to acquire ElevATE Semiconductor (San Diego, CA) in an all-cash transaction for $250M. ElevATE is a fabless semiconductor company specializing in integrated circuits for the Automated Test Equipment industry, designing low-power, high-density solutions aimed at delivering the lowest possible cost of test. Both boards and ElevATE's stockholders have approved the transaction, which is expected to close during the second half of 2026.
Machinify (Dallas, TX) acquired InformedDNA's genetic testing payment integrity business (St. Petersburg, FL). The acquisition encodes decades of specialized genetic testing review expertise directly into Machinify's AI payment intelligence platform. In one Medicaid program, the resulting capability identified more than $70M in savings across reproductive and pharmacogenomic testing.
Match Group (Dallas, TX) participated in an $18M Seed round for Overtone, a voice-first AI matchmaking service founded by Hinge founder Justin McLeod. FirstMark Capital and Pace Capital also backed the round. Psychotherapist Esther Perel has joined Overtone's board alongside Match Group CEO Spencer Rascoff and leadership advisor Diana Chapman. The service launches in select markets by the end of 2026.
Maverick Capital (Dallas, TX) participated in a $300M+ round for Xsight Labs (Tel Aviv, Israel), a fabless semiconductor company building connectivity solutions for hyperscale, edge, and AI data center networks, at a $2.8B post-money valuation. The round was led by Fidelity Management & Research Company with participation from Aliya Capital Partners, Atreides Management, Artisan Partners, Battery Ventures, Diagonal Capital, Intel Capital, Key1 Capital, Sienna, T. Rowe Price, Union Group, and Valor Equity Partners.
Morrison Seger (Dallas, TX) participated in a $10M Series A for Throne Science (Austin, TX), a smart toilet sensor tracking gut health, hydration, and urinary function. The round was led by Will Ventures with participation from Emerson Collective, Workshop, LEAD VC, Salt VC, Accomplice, Moxxie, Ventures Together, Symphony, Felix Capital, Cosmic Venture Partners, Offscript, and V1.VC.
Omnimed Capital (Dallas, TX) participated in a $24M round for Transcripta Bio (Palo Alto, CA), an AI-powered drug discovery company focused on neurological and neuromuscular diseases. Mayo Clinic also joined as a new investor alongside existing backers JAZZ Venture Partners, BlueYard Capital, and a group of life sciences family offices. Proceeds fund IND-enabling studies and clinical preparation across the company's autism spectrum disorder and facioscapulohumeral muscular dystrophy programs.
Sidekick Partners (Dallas, TX) participated in a $21M Series A for LemonEdge (London, UK), a private markets accounting and infrastructure platform. The round was led by Blackstone Innovations Investments and joined by BNY.
Spring Valley Acquisition Corp. III (Dallas, TX) completed its business combination with General Fusion (Vancouver, BC), a magnetized target fusion energy company. General Fusion enters the public markets with approximately $150M in cash, inclusive of net transaction proceeds from the private placement and trust capital, making it the first publicly traded pure-play fusion company. The combined company was renamed General Fusion Group Ltd. and trades on Nasdaq under "GFUZ." Spring Valley vehicles have raised $920M across four IPOs, previously completing combinations with NuScale Power and Eagle Nuclear Energy.