Treemap
Emerging Spaces: Where Private Technology Money Goes
Venture-like money raised by U.S. private companies in each Palanor Emerging Spaces theme, trailing four quarters, $ millions, of published themes
Plays the chart through its history, period by period.
Palanor Emerging Spaces: each U.S. private company that raised venture-like money on SEC Form D since the middle of the last decade gets one technology theme, from pre-registered rules on its description or name, with a model check on the largest raisers. Themes with too thin a record are left out. Totals are lower bounds: a company with a plain name and no description is in no theme.
Each rectangle is a technology theme, sized by the money its private companies raised over the latest year of SEC filings and coloured by group. The Emerging Spaces page colours the same map by momentum.
Ranked, 21 items
| # | Group | Share | |||
|---|---|---|---|---|---|
| 1 | AI compute and chips | AI | $11.0B | 35% | Q3 2026 |
| 2 | Applied AI | AI | $4.13B | 13% | Q3 2026 |
| 3 | Space | Space and defense | $3.11B | 9.8% | Q3 2026 |
| 4 | AI agents and copilots | AI | $2.86B | 9.0% | Q3 2026 |
| 5 | Cybersecurity | Computing | $2.40B | 7.6% | Q3 2026 |
| 6 | Batteries and energy storage | Energy | $1.36B | 4.3% | Q3 2026 |
| 7 | Crypto infrastructure | Crypto | $1.13B | 3.5% | Q3 2026 |
| 8 | Semiconductors | Computing | $1.01B | 3.2% | Q3 2026 |
| 9 | Antibodies and ADCs | Biotech and health | $937M | 2.9% | Q3 2026 |
| 10 | Robotics and automation | Robotics and mobility | $720M | 2.3% | Q3 2026 |
| 11 | Drones | Robotics and mobility | $637M | 2.0% | Q3 2026 |
| 12 | Neurotechnology | Biotech and health | $472M | 1.5% | Q3 2026 |
| 13 | AI drug discovery | Biotech and health | $465M | 1.5% | Q3 2026 |
| 14 | Quantum computing | Computing | $417M | 1.3% | Q3 2026 |
| 15 | Gene therapy | Biotech and health | $289M | 0.91% | Q3 2026 |
What this chart reads·21 series
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- Private Money Raised, Trailing Four Quarters: AI drug discovery (Palanor Emerging Spaces)as “AI drug discovery”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: AI agents and copilots (Palanor Emerging Spaces)as “AI agents and copilots”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: AI compute and chips (Palanor Emerging Spaces)as “AI compute and chips”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Quantum computing (Palanor Emerging Spaces)as “Quantum computing”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Semiconductors (Palanor Emerging Spaces)as “Semiconductors”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Cybersecurity (Palanor Emerging Spaces)as “Cybersecurity”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: AR, VR and spatial computing (Palanor Emerging Spaces)as “AR, VR and spatial computing”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Batteries and energy storage (Palanor Emerging Spaces)as “Batteries and energy storage”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Solar power (Palanor Emerging Spaces)as “Solar power”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Alternative protein (Palanor Emerging Spaces)as “Alternative protein”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Indoor farming and agtech (Palanor Emerging Spaces)as “Indoor farming and agtech”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Cell therapy (Palanor Emerging Spaces)as “Cell therapy”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Gene therapy (Palanor Emerging Spaces)as “Gene therapy”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Antibodies and ADCs (Palanor Emerging Spaces)as “Antibodies and ADCs”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Synthetic biology and biomanufacturing (Palanor Emerging Spaces)as “Synthetic biology and biomanufacturing”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Neurotechnology (Palanor Emerging Spaces)as “Neurotechnology”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Drones (Palanor Emerging Spaces)as “Drones”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Robotics and automation (Palanor Emerging Spaces)as “Robotics and automation”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Space (Palanor Emerging Spaces)as “Space”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Crypto infrastructure (Palanor Emerging Spaces)as “Crypto infrastructure”latest 2026-07-01
- Private Money Raised, Trailing Four Quarters: Applied AI (Palanor Emerging Spaces)as “Applied AI”latest 2026-07-01
Sources·21 sources
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Private Money Raised, Trailing Four Quarters: AI drug discovery (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: AI agents and copilots (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: AI compute and chips (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Quantum computing (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Semiconductors (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Cybersecurity (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: AR, VR and spatial computing (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Batteries and energy storage (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Solar power (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Alternative protein (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Indoor farming and agtech (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Cell therapy (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Gene therapy (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Antibodies and ADCs (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Synthetic biology and biomanufacturing (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Neurotechnology (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Drones (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Robotics and automation (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Space (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Crypto infrastructure (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Private Money Raised, Trailing Four Quarters: Applied AI (Palanor Emerging Spaces). Source: Palanor calculation (Palanor Emerging Spaces) from SEC Form D data sets (U.S. Securities and Exchange Commission; public domain).
Charts are drawn from Palanor's signal library and recomputed from source data on every view. Transformations (changes, indexing, year-on-year rates) are Palanor's.