Venture Capital Floods Critical Materials Group, IBM Backs Quantum Physics Startup

Critical Materials Group (CMG) has secured $10.3 million in seed funding to develop its modular, automation-ready production systems for energetic materials used in US and allied defence manufacturing.

The Texas startup's technology aims to increase production capacity while embedding safety and automation throughout manufacturing, addressing limited surge capacity in the US energetics supply chain.

IBM Ventures has made a strategic investment in BQP, bringing the physics-software startup's total funding to $8 million. BQP develops BQPhy, a physics-AI acceleration platform for aerospace, defence and engineering applications.

Capacity, an enterprise automation company, has raised more than $54 million in Series E funding, taking its total capital raised to over $159 million. The financing will accelerate R&D across AI agents and automation, expand go-to-market and customer-success teams, support new integrations and partnerships, and finance international expansion.

NovaGo Therapeutics has completed a CHF24 million, or approximately $30 million, Series B round to advance its lead programme into a randomized, double-blind proof-of-concept study involving 120 patients with acute spinal cord injuries at clinical sites in Germany, Spain and Switzerland.