Current news on startups and venture investments as of 16 February 2026: mega-rounds in AI, rising valuations, market consolidation, and strategies of global venture funds. Insights for investors and VC funds.
VC Market: Funding Available, but Discipline is Stricter
Venture investments enter mid-February 2026 with a paradoxical signal: capital remains significant for funds, but deal-selection criteria are tightening. Public market volatility in the software sector is directly impacting private valuations, funding round conditions, and companies' willingness to go public. For venture funds, this signals a return to “quality investing,” emphasising revenue, retention, unit economics, and proven effectiveness of AI products, rather than growth promises.
- Key Shift: Growth in the share of structured rounds (tranches, performance criteria, stricter liquidation preferences).
- Secondary Market: Increasing discussions on partial sales of stakes and risk-sharing transactions among investors.
- Fund Strategy: Focus on “AI infrastructure” and applied verticals where AI provides measurable efficiency gains.
AI Mega-Rounds: Record Valuations and Capital Concentration
The most noteworthy topic of the week is the continuation of the mega-round era in generative AI. Major deals are intensifying the concentration of capital around a few leaders, forming the “top of the market,” where valuations are rising faster than industry averages. Investors are effectively paying for not just current metrics but also strategic positioning in the value chain: models, data, computation, and corporate integrations.
Investors are shifting their focus towards companies that:
- have robust enterprise revenue and a clear implementation economics;
- control critical resources (training, inference, infrastructure, partnerships with cloud providers);
- transform AI into product packages for specific functions (coding, support, sales, analytics).
AI Infrastructure: Computation, Chips, and the “Energy” Aspect of AI
In 2026, the venture market is increasingly pivoting from “wrapping” to fundamentals: chips, data centres, cloud infrastructure, and energy efficiency. Investors are assessing not just the technology but also the startup's ability to scale in a capital-intensive environment.
- Cerebras Systems closed a late funding round at $1 billion with an estimated valuation of around $23 billion, underscoring demand for alternatives in AI computation and the market's desire to diversify supply chains.
- Neysa (AI-cloud infrastructure) secured a substantial investment package with a target valuation of $1.4 billion, reflecting growing interest in regional AI platforms and infrastructure for models.
- C2i Semiconductors received $15 million for power management solutions for AI data centres—a signal that “energy efficiency” is becoming as much of an investment thesis as the speed of model training.
For venture investors, this is an important marker: the growth of AI is boosting demand for specialised components and optimising infrastructure, creating more opportunities in niches previously dominated by corporations.
Voice AI and “Enterprise Packages”: Focus on Revenue, Not Demo
The voice AI segment is transitioning from a “wow-effect” phase into systematic deployment: contact centres, personnel training, sales, content localisation, and multilingual interfaces. Notably, large funding rounds are being secured by players that are building corporate products and scalable sales channels.
ElevenLabs raised $500 million in Series D at an estimated valuation of around $11 billion. This deal confirms two trends:
- Investors are willing to pay for a sustainable enterprise trajectory and clear monetisation scenarios;
- The market expects voice to become the standard interface for AI agents in support and sales, rather than being treated as a separate “feature.”
Fintech and M&A Deals: The Market is Reassessing Risk and Asset Quality
Against the backdrop of volatility in software, pressure on valuations is intensifying, especially in B2B-SaaS and fintech. This is affecting M&A negotiations and listing plans. Some companies are postponing IPOs or lowering placement parameters to avoid recognising a “negative” valuation relative to expectations from previous years.
For the venture market, this signals an increased likelihood of two scenarios:
- Consolidation—strong players are acquiring products/teams to more rapidly close functional gaps and reduce development costs;
- Down-round or flat-round—rounds without valuation growth, but maintaining runway and focusing on profitability.
Europe and the UK: Capital Flows into Energy, Resilience, and Industrial Cases
In Europe, including the UK, venture investments remain focused on areas where innovation is packaged within a clear regulatory and corporate framework: energy infrastructure, greentech, recycling, and industrial efficiency. This reflects a more “conservative” demand structure from large clients and the state.
- Interest is growing in platforms for energy markets and transaction management.
- Circular economy and recycling technologies are receiving funding due to their connections to contracts and pilot projects with industry.
Venture Funds' Interest Map for the Week
Aggregating key signals, the global venture market in mid-February 2026 appears as follows:
- Top Sector: AI (models, agents, infrastructure, chips, energy savings in data centres).
- Growth Strategy: enterprise sales, partnerships with cloud providers and major integrators.
- Deals: large rounds for leaders and stricter conditions for the “mid-market.”
- Exits: the IPO window remains selective; M&A is becoming more feasible where synergies and cost savings exist.
Implications for Investors: Practical Takeaways
For venture investors and funds, the key task in the coming weeks is to avoid overpaying for a “narrative” while maintaining access to AI growth. In a context where public multiples fluctuate and IPOs are postponed, the cost of error is rising, but so too is the value of discipline.
- In late stages, verify how the company protects itself against price competition and the cost per unit of inference at scale.
- In growth/Series B–C, seek vertical AI cases with measurable ROI for clients and a short implementation cycle.
- In seed investments, prioritise teams with rare expertise (chips, infrastructure, security, industrial AI), where barriers are higher and the risk of “commoditisation” is lower.
- For the portfolio, prepare a plan for the next 12–18 months: extending runway, optional bridges, working with the secondary market, and M&A scenarios.
The key takeaway of the day: venture investments in 2026 remain globally active, but the market demands evidence. Startups that convert AI from a loud promise into operational efficiency, revenue, and scalable products will succeed.
