Funding round
Druid AI Series B
Druid AI, which works in AI platform development in Bucharest, raised $30M in a Series B round announced on 12 Sep 2023, led by TQ Ventures. 7 firms took part, 3 of them already investors. It is Druid AI's second venture round on record; the one before was a Series A in May 2022.
$30M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Druid AI did not disclose a valuation in this round. It came 16 months after Druid AI's Series A. It is 39% of the $76M Druid AI has raised in the venture rounds on record. Druid AI raised again 24 months later: a Series C round of $31M in Sep 2025.
Investors
Who put money in
TQ Ventures led the round with 6 other firms. GapMinder, Hoxton Ventures and Karma Ventures had backed Druid AI before.
Lead investor
- backs 71 venture-backed companies new investor
Also in the round
- backs 12 venture-backed companies new investor
- Endeavor backs 236 venture-backed companies new investor
- backs 80 venture-backed companies new investor
- GapMinder backs 21 venture-backed companies existing investor
- Hoxton Ventures backs 50 venture-backed companies existing investor
- backs 20 venture-backed companies existing investor
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
33 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $30M, and this round was close to the median. The closest in time, other companies' Series B rounds in Software Development Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Software Development Services | 26 Oct 2023 | $30M | not disclosed | GGV Capital U.S. |
| Software Development Services | 1 Aug 2023 | $9.4M | not disclosed | Storm Ventures |
| Software Development Services | 28 Nov 2023 | $40M | not disclosed | New Enterprise Associates |
| Software Development Services | 18 Jul 2023 | $16M | not disclosed | 8VC |
| Software Development Services | 5 Dec 2023 | $40M | $350M | Andreessen Horowitz |
| Software Development Services | 15 Jun 2023 | $20M | not disclosed | Ten Eleven |
| Software Development Services | 30 Jun 2023 | $7.6M | not disclosed | not named |
| Software Development Services | 25 Jan 2024 | $4.9M | not disclosed | not named |
Sources
Where this comes from
Reported by 6 sources.
Questions
Frequently asked
How much did Druid AI raise in its Series B round?
Druid AI raised $30M in its Series B round, announced in Sep 2023.
Who led Druid AI's Series B round?
TQ Ventures led it, with Smedvig Capital, Endeavor, Verve Ventures, GapMinder and Hoxton Ventures and 1 more.
What was Druid AI's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Software Development Services?
33 Series B rounds in Software Development Services within a year either side disclosed an amount; the median was $30M, and this round was close to the median.
Did Druid AI raise again after this round?
Yes: a Series C round in Sep 2025 of $31M.