Analysis
As of November 1, 2026, Value Add Pulse's own funding tracker -- the same figure already cited elsewhere on this page -- shows $201.7 billion in disclosed venture capital across 246 deals, for a median round of $100 million.
The seven new raises in today's issue, by contrast, total just $79.1 million combined -- an average of $11.3 million apiece. The gap is the story: the AI megaround era tracked on this page most days and the ordinary seed-to-Series-A market are increasingly two different capital markets, moving on different timelines with different investors.
What the median hides
A $100 million median across 246 disclosed deals is pulled upward by a small number of AI infrastructure and foundation-model rounds that routinely clear nine figures.
“The seven new raises in today's issue, by contrast, total just $79.1 million combined -- an average of $11.3 million apiece.”
Add this issue's new raises to Pulse's running total and tracked capital nudges up only slightly -- a reminder that a single week's ordinary deal flow barely moves a total dominated by a handful of outsized rounds.
Strip those megarounds out and the shape of the market looks like today's issue: smaller checks written by family offices, seed funds and sector specialists rather than the multi-stage mega-funds writing nine-figure checks into OpenAI, Anthropic or Baseten.
This issue's seven deals
- StimCardio Medical -- $30M Series A (led by Metis MedTech): an oversubscribed round funding a pivotal study for Rhyvive, a wrist-worn atrial-fibrillation neuromodulation device.
- Ravical -- $17M Seed (led by MMC Ventures): an AI platform standardizing workflows for European accounting and tax firms, bringing its total funding to $25M.
- Reflex -- $14M Series A (led by Standard Capital, with Lux Capital and Databricks Ventures participating): AI agents that build custom business software for enterprises including Amazon and Walmart.
- FinMaq -- $6.5M Series A (led by Accion): equipment financing for small businesses in Colombia, aiming for $200M in cumulative disbursements within 18 months.
- Lette -- $6.5M Seed (led by Peak): an AI operating system automating leasing and maintenance for institutional residential landlords including JLL.
- Offe Market -- $3M Seed (led by Slauson & Co): a Los Angeles marketplace for discounted excess retail inventory, now carrying more than 200 brands.
- Wrapped Health -- $2.1M Pre-Seed (co-led by Lightbank and Arteria Capital): infrastructure linking clinician recommendations to consumer health-product purchases.
Why the split matters for founders and LPs
None of these seven rounds would register as a headline on their own next to a $1 billion Kalshi raise or an $11 billion OpenAI tranche -- both of which Pulse covered this week. But they represent where most actual venture activity sits: narrow, defensible products solving a specific operational problem (AFib recurrence, accounting workflow, equipment credit, rental-unit turnover, excess retail inventory, OTC-product routing) for a founder who raised once, maybe twice, and is still proving a repeatable sales motion.
However, it would overstate the case to call this a representative sample of the entire market in one week. Pulse's own pool skews toward rounds that get picked up by funding-focused outlets like Pulse2, SiliconANGLE and The SaaS News -- larger rounds and rounds at companies with existing press relationships are structurally more visible, so the true median check size across all venture activity, including unannounced rounds, is almost certainly lower than even today's $11.3 million average.
What to watch
The next test is whether this week's pattern holds through November's typical pre-holiday funding slowdown, or whether a handful of AI megarounds (Baseten's reported $2 billion talks, OpenAI's revised $20 billion target) once again dominate the capital-tracked total while deal count stays flat. Pulse will keep tracking both numbers separately going forward: capital tracked and deal count, rather than one blended average that a single megaround can distort.