San Diego’s Biggest Venture Capital Deals, Acquisitions, and Business Headlines

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SAN DIEGO — It ranks 7th nationally for venture capital financings this year trailing behind Seattle and Austin, according to recent Carta data.

There’s been several AI companies in San Diego that have emerged from stealth, including Aether AI led by a UC San Diego professor Biwei Huang as well as StarLifter led by former ServiceNow Founder and billionaire Fred Luddy.

Four local companies have gone public so far in 2026 — Solv Energy, Aevex Aerospace, Atrium, and Suja Juice — collectively raising more than $1.5 billion in the public markets.

In terms of M&A activity, Crinetics Pharmaceuticals agreed to be acquired by Vertex Pharmaceuticals for $10 billion, Raythera Therapeutics was acquired by Biogen for approximately $1 billion, Qualcomm purchased Modular for $3.9 billion, and Dexcom completed the acquisition of Nutrisense for an undisclosed amount.

Capricor Therapeutics also made headlines after receiving a complete response letter from the U.S. Food and Drug Administration for its Duchenne muscular dystrophy therapy. The setback came just months after the company announced plans to expand its headquarters by 171,000 square feet, reportedly the largest new biotech lease signed in San Diego this year, according to CoStar.

• Turnout a tech startup working to streamline government forms raised $35M.

• Aether AI an AI startup founded by a UC San Diego professor raised $20M.

• StarLifter a developer of decision intelligence software for tech raised $11M.

• Self Inspection an AI-powered vehicle inspection platform raised $10M.

• Reaxiomatic an aerospace and defense technology startup raised $7M.

• AquaPoro which develops industrial water treatment and systems raised $5M.