At least 80 new tech unicorns were minted in 2025 so far

Summary

With AI igniting an investor frenzy, every month, more startups obtain unicorn status. Using data from Crunchbase and PitchBook, TechCrunch tracked down the VC-backed startups that became unicorns so far this year. While most are AI-related, a surprising number are focused in other industries like satellite space companies Loft Orbital and blockchain-based trading site Kalshi. This list will be updated throughout the year, so check back and see the latest powerhouse startups that are now worth over $1 billion. November Genspark — $1.25 billion: This company builds AI agents to help automate tasks. It raised a $275 million Series B, giving it a $1.25 billion valuation, according to Forbes. Backers include Emergence Capital Partners and LV Technology Ventures. The company was founded in 2023. Gamma — $2.1 billion: This company, which creates AI-generated visuals, such as websites, announced a $68 million Series B led by a16z, giving it a $2.1 billion valuation, as TechCrunch previously reported. The company launched its first product in 2022. October Modal — $1.1 billion: This AI cloud computing platform, founded in 2021, last raised an $87 million Series B, giving it a $1.1 billion valuation, according to Pitchbook. It counts Lux Capital and Redpoint Ventures as investors and has raised around $110 million in funding to date. Fireworks AI — $4 billion: This AI infrastructure platform for open source models, founded in 2022, last raised a $250 million Series C giving it a $4 billion valuation, according to Pitchbook. It counts Benchmark Capital and Index Ventures as investors and has raised more than $320 million in funding to date. Techcrunch event San Francisco | October 13-15, 2026 Substrate — $1 billion: This semiconductor fabrication company, founded in 2022, last raised a $100 million seed round giving it a $1 billion valuation, according to Pitchbook. It counts Valor Equity Partners and Founders Fund as investors. Shop My — $1.5 billion: This marketing and affi...