Arizona Startups Raised Billions in 2025 as AI, Healthtech Lead the Way

Article originally posted on Phoenix Business Journal on December 29, 2025

Artificial intelligence reshaped the venture capital market in Arizona and across the country in 2025 as startups with AI-related platforms spurred an increase in overall deal count and captured the lion’s share of funding deployed throughout the year.

Although fundraising and startup exits have yet to return to pre-pandemic era highs, deal values continued to climb in key sectors this year including AI, manufacturing, robotics and space tech, said Bobby Franklin, president and CEO at NVCA, in a recent PitchBook report.

Startups in Arizona continued to garner investor interest in 2025 with several landing significant funding deals. Companies in logistics, AI, healthtech, stratospheric exploration, cleantech and renewable energy rounded out Arizona’s top investments.

Tucson-based stratospheric balloon company World View Enterprises recorded the largest deal of the year in May with the closure of its $2.5 billion rolling series D round, which was reported by PitchBook and indicated in a regulatory filing.

The company raised an undisclosed amount of funding from Palo Alto, California-based venture capital firm Accel, and new and existing investors to close out the round.

It’s important to note that World View raised a $95.7 million portion of its $2.5 billion rolling series D round in two separate deals in 2024 to advance flight capabilities and production of its remote sensing platforms for the U.S. military.

World View’s rolling series D round supports continued development of its high-altitude stratospheric flight technologies and systems. With the investment, World View plans to execute a robust flight manifest over the next 24 months, further improving its flight systems and capabilities, according to the company.

The company’s clients include NASA, National Oceanic and Atmospheric Administration, and the Defense Department. It was established in 2012 and U.S. Sen. Mark Kelly was among its co-founders, although he’s no longer involved in the company, according to media reports.

Here are the other companies rounding out the top seven VC deals among startups in Arizona in 2025, based on Business Journal reporting and data from PitchBook:

Green Energy Global: $211 million

Green Energy Global Inc. closed a $211 million late-stage round in May from undisclosed investors, according to PitchBook data and a regulatory filing.

Green Energy Global – based in Pearce, east of Tucson – is a renewable and sustainable energy company that intends to source, manufacture, assemble, sell and service renewable energy products. Some of those products include supercapacitors, traditional and AI-operated electric vehicle charging stations, solar panels and raw materials such as lithium, graphene and silicon.

Naari.ai: $100 million

Naari.ai, a Scottsdale-based company developing an AI engine focused on women’s health care, raised an estimated $100 million in a deal that closed in June, according to data from PitchBook.

Investors included Otsuka Pharmaceutical Factory, Mayo Clinic Ventures and Mount Sinai Ventures, with participation from Prange Pharma, Bridgepoint Capital, Amadeus Capital Partners, Avestria Ventures, The Gideon Group and others, PitchBook data shows.

GT Medical Technologies: $54 million

In July, Tempe-based GT Medical Technologies Inc. closed its $54 million oversubscribed series D round to expand commercialization of GammaTile, which is cleared by the U.S. Food and Drug Administration as a radiotherapy implant to treat brain tumors.

The final close of the Series D round included an additional $16 million from new investors including FemHealth Ventures, Warren Point Capital, an undisclosed strategic investor and increased commitments from all existing institutional investors, according to the company.

Earlier this year, GT Medical Technologies completed a $37 million first close of the series D equity round to drive expansion of its U.S. commercial activities for GammaTile and complete enrollment of its ROADS randomized controlled trial for newly diagnosed brain metastases, the Business Journal previously reported.

MyLand: $43 million

Phoenix-based soil health company MyLand in January closed a $43 million series B round led by Proterra Investment Partners and other undisclosed investors, according to PitchBook.

MyLand’s patented technology and soil-as-a-service approach allows farmers to easily and rapidly implement regenerative agriculture practices and improve their soil health by “harnessing the land’s own native ecosystem,” according to the company.

The company in October expanded its collaboration with Texas A&M AgriLife Research in a new research phase to evaluate effects and benefits of microalgae in agriculture and natural resources production systems in Texas.

Over the past two years, MyLand and AgriLife Research expanded soil research and data collection across 12,000 acres in Texas, representing multiple soil types, crops, and regions. The program’s microalgae expansion adds 10,000 more acres, deepens collaborative research, and explores new applications of MyLand’s microalgae-based soil-as-a-service offering.

Solera Health: $40 million

Phoenix-based Solera Health closed a $40 million series E round in January to enhance its HALO digital health platform. The round was co-led by Health Care Service Corporation and includes Adams Street, Cobalt Ventures, and Horizon Mutual Holdings Inc.

Solera Health’s HALO platform makes it easier for employers and insurance plans to add, organize and administer digital care solutions to a network of providers.

RunBuggy: $37 million

Tempe-based RunBuggy in September closed a $37 million series B round to scale its AI-powered platform that connects vehicle shippers and haulers. The round was led by Palo Alto, California-based Centana Growth Partners with participation from existing investor OMI Capital.

RunBuggy will use the fresh infusion of capital to accelerate product development. The company operates primarily in the U.S. and expanded into Canada this year. It will continue to grow its presence in both markets, adding new shippers and haulers to its platform.

RunBuggy’s AI engine, RunBot, is integrated with the company’s secure transportation management platform. RunBot automates more than 80% of routine order workflows and predicts delivery challenges with a high degree of accuracy.

RunBuggy’s client base consists of large automotive original equipment manufacturers, lending and leasing institutions and national dealership groups.