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 in 2025. 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.
December
Heven Aerotech — $1 billion: This startup, founded in 2019, is creating hydrogen-powered drones. It last raised a $100 million Series B, and has raised $115.2 million in total capital to date. Investors include IonQ, according to PitchBook.
Unconventional AI — $4.5 billion: This startup, founded in 2025 by Databricks former head of AI, Naveen Rao, is working on an energy-efficient computer for AI. It last raised a $475 million seed round from investors including Andreessen Horowitz and Lightspeed, Rao told Bloomberg.
Saviynt — $3 billion: This identity management cybersecurity startup, launched in 2010, last raised a $700 million Series B. It has raised $740 million in funding to date from investors, including KKR, according to PitchBook.
Serval — $1 billion: This startup creates AI agents to help IT professionals complete tasks. Founded in 2024, the company last raised a $74.8 million Series B. It has raised around $126 million in funding to date from investors including Sequoia and Redpoint, according to PitchBook.
Chai Discovery — $1.3 billion: This startup creates models that help predict the structure of biochemical molecular structures. Founded in 2024, the company last raised a $130 million Series B. It has raised close to $230 million in funding to date from investors including General Catalyst and Thrive Capital, according to PitchBook.
MoEngage — $1.1 billion: This customer analytics platform, founded in 2014, last raised a $280 million Series F. It has raised around $450 million in funding to date, from investors including A91 Partners and Goldman Sachs Asset Management, according to PitchBook.
Radiant — $1.8 billion: This nuclear renewable energy company looks to provide an alternative to diesel. Founded in 2019, this company last raised a $300 million Series D and has raised more than $500 million in funding to date from investors including Draper Associates and Andreessen Horowitz, according to PitchBook.
Imprint — $1.2 billion: This payment processing …
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