Thirty U.S.-based startups in this H1 2026 selection went public across space, AI infrastructure, energy, biotech, construction technology, digital assets, defense, medtech, insurtech, and consumer food. Their base initial public offerings generated approximately US$90.494 billion in reported gross primary proceeds, of which SpaceX accounted for US$75 billion, or 82.9%. Biotech and pharma contributed the largest number of listings, with 12 companies, while SpaceX and Cerebras Systems dominated the dollar total.
Startups That Went Public in H1 2026
SpaceX
Ticker: SPCX | Exchange: Nasdaq / Nasdaq Texas | Sector: SpaceTech | Market Cap at IPO Price: US$1.77 trillion | Primary Gross Proceeds: US$75.00 billion
SpaceX completed the largest base IPO in this selection, raising US$75 billion at an offering price of US$135 per share. Its business includes reusable launch systems, spacecraft, satellite connectivity, and Starlink’s broadband network. The offering alone represented 82.9% of the 30 companies’ reported base gross proceeds, making comparisons without SpaceX particularly informative.
Cerebras Systems
Ticker: CBRS | Exchange: Nasdaq | Sector: Semiconductors, Electronics & Hardware | Market Cap at IPO Price: US$41.91 billion | Primary Gross Proceeds: US$5.55 billion
Cerebras Systems completed the largest non-SpaceX base offering, raising US$5.55 billion at an IPO price of US$185 per share. The company develops its Wafer-Scale Engine architecture for AI computing workloads as an alternative approach to conventional GPU-based systems. Its listing added a specialized AI-chip manufacturer to the public markets.
X-Energy
Ticker: XE | Exchange: Nasdaq | Sector: Energy & Grid | Market Cap at IPO Price: US$9.35 billion | Primary Gross Proceeds: US$1.018 billion
X-Energy raised approximately US$1.018 billion in its base IPO to advance its nuclear power and fuel technology business. The company develops small modular reactor systems and TRISO-X fuel for energy customers, including industrial operators and other large electricity users. Its offering added another advanced nuclear developer to the 2026 public-market cohort.
Fervo Energy
Ticker: FRVO | Exchange: Nasdaq | Sector: Energy & Grid | Market Cap at IPO Price: US$7.66 billion | Primary Gross Proceeds: US$1.89 billion
Fervo Energy raised US$1.89 billion in its base IPO, excluding the underwriters’ additional-share option. The company uses techniques including horizontal drilling and distributed fiber-optic sensing to develop enhanced geothermal resources. Its approach targets reliable geothermal electricity generation in locations where conventional geothermal projects have been difficult to develop.
EquipmentShare
Ticker: EQPT | Exchange: Nasdaq | Sector: Real Estate & Construction | Market Cap at IPO Price: US$6.18 billion | Primary Gross Proceeds: US$747.3 million
EquipmentShare went public with a business that combines equipment rental operations and proprietary construction software. Its T3 platform helps contractors monitor machinery, maintenance, jobsite activity, and fleet performance across a national rental network. The company's IPO generated approximately US$747.3 million in base primary gross proceeds.
York Space Systems
Ticker: YSS | Exchange: NYSE | Sector: SpaceTech | Market Cap at IPO Price: US$4.41 billion | Primary Gross Proceeds: US$629 million
York Space Systems entered the public market with a business focused on spacecraft manufacturing and space mission infrastructure. It designs satellite platforms, manages missions, supports constellation deployment, and provides ground services for government and commercial customers. Its offering provided public-market access to a space company operating beyond the launch segment.
HawkEye 360
Ticker: HAWK | Exchange: NYSE | Sector: SpaceTech | Market Cap at IPO Price: US$2.42 billion | Primary Gross Proceeds: US$416 million
HawkEye 360 listed a satellite-based radio-frequency intelligence business on the NYSE. Its systems detect, geolocate, and characterize RF signals for defense, intelligence, maritime, spectrum monitoring, and GNSS-interference applications. These capabilities serve both government and commercial customers requiring information about activity captured from space.
Parabilis Medicines
Ticker: PBLS | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$2.55 billion | Primary Gross Proceeds: US$670 million
Parabilis Medicines raised US$670 million in its base IPO, excluding a separate concurrent private placement. The company develops cancer therapies using Helicons, stabilized helical peptides designed to interact with difficult-to-target proteins. Its listing was among the larger biotech offerings in this selection.
BitGo
Ticker: BTGO | Exchange: NYSE | Sector: Web3 & Blockchain | Market Cap at IPO Price: US$2.09 billion | Primary Gross Proceeds: US$198.5 million
BitGo went public as a provider of institutional digital-asset infrastructure. Its products include custody, wallets, trading, financing, settlement, staking, stablecoin infrastructure, and crypto-as-a-service tools for financial institutions and other organizations. The offering centered on a service-provider business model rather than the issuance of a digital token.
Kailera Therapeutics
Ticker: KLRA | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$2.07 billion | Primary Gross Proceeds: US$625 million
Kailera Therapeutics entered public markets with a clinical-stage pipeline focused on obesity and metabolic disorders. Its programs use GLP-1-based mechanisms and different administration routes, including ribupatide, an injectable GLP-1/GIP receptor agonist. The company’s IPO raised US$625 million in base primary gross proceeds.
Generate Biomedicines
Ticker: GENB | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$2.05 billion | Primary Gross Proceeds: US$400 million
Generate Biomedicines went public with a platform using machine learning and generative biology to develop protein-based medicines. Its work spans therapeutic areas including immunology, oncology, and respiratory disease. The company’s approach links computational protein design with drug-development programs intended for clinical evaluation.
Kardigan
Ticker: KARD | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$1.43 billion | Primary Gross Proceeds: US$400 million
Kardigan listed with cardiovascular medicine programs that were already in clinical development. Its pipeline includes danicamtiv, ataciguat, and tonlamarsen, each being advanced for cardiovascular indications. The IPO raised US$400 million in base primary gross proceeds.
Ethos Technologies
Ticker: LIFE | Exchange: Nasdaq | Sector: Insurtech | Market Cap at IPO Price: US$1.20 billion | Primary Gross Proceeds: US$97.4 million
Ethos Technologies listed its digital life-insurance distribution platform on Nasdaq. The company works with insurance carriers to streamline purchasing, underwriting, and policy activation through technology. Its operating model focuses on technology-enabled insurance distribution and customer acquisition through carrier partnerships.
Alamar Biosciences
Ticker: ALMR | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$1.18 billion | Primary Gross Proceeds: US$191.3 million
Alamar Biosciences went public with a commercial-stage precision proteomics platform. Its NULISA technology detects low-abundance protein biomarkers for research in neurology, immunology, oncology, and other areas. The business provides analytical tools used in research rather than relying on the outcome of a single drug candidate.
Eikon Therapeutics
Ticker: EIKN | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$974.5 million | Primary Gross Proceeds: US$381.2 million
Eikon Therapeutics went public with an oncology pipeline and a research approach rooted in single-molecule imaging. Its lead cancer candidate was being studied in combination with Merck’s Keytruda. The IPO raised approximately US$381.2 million in base primary gross proceeds.
Deep Fission
Ticker: FISN | Exchange: Nasdaq | Sector: Energy & Grid | Market Cap at IPO Price: US$965.3 million | Primary Gross Proceeds: US$40 million
Deep Fission entered the public market with a proposed underground nuclear-reactor design. The company is developing small modular pressurized-water reactors intended for installation below ground, an approach it says could offer security and site-use benefits. Its base IPO raised US$40 million, making it considerably smaller than the other two energy-sector offerings in this selection.
Seaport Therapeutics
Ticker: SPTX | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$963.5 million | Primary Gross Proceeds: US$254.9 million
Seaport Therapeutics went public with a neuropsychiatric drug-development pipeline. Its Glyph platform is designed to improve the delivery and tolerability of oral medicines affected by first-pass metabolism, poor bioavailability, or adverse effects. Programs under development target depression, anxiety, and other neuropsychiatric disorders.
Aktis Oncology
Ticker: AKTS | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$945.4 million | Primary Gross Proceeds: US$317.7 million
Aktis Oncology entered the public market with a pipeline of tumor-targeting radiopharmaceuticals for solid tumors. Eli Lilly participated as an anchor investor through an IPO commitment. Its offering reflected the involvement of a large pharmaceutical company in financing a specialist oncology developer.
Odyssey Therapeutics
Ticker: ODTX | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$861.8 million | Primary Gross Proceeds: US$279 million
Odyssey Therapeutics listed with a clinical pipeline for autoimmune and inflammatory diseases. Its lead candidate, OD-001, is being studied in mid-stage ulcerative colitis trials. Founder and CEO Gary D. Glick previously founded Scorpion Therapeutics, which was subsequently acquired by Eli Lilly.
Hemab Therapeutics
Ticker: COAG | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$840.8 million | Primary Gross Proceeds: US$301.5 million
Hemab Therapeutics entered public markets with targeted therapies for rare bleeding and coagulation disorders. Its development programs address conditions including Glanzmann thrombasthenia, von Willebrand disease, and Factor VII deficiency. The company focuses on preventive treatment approaches for patient populations with limited therapeutic options.
Avalyn Pharma
Ticker: AVLN | Exchange: Nasdaq | Sector: Biotech & Pharma | Market Cap at IPO Price: US$797.9 million | Primary Gross Proceeds: US$300 million
Avalyn Pharma went public with a pipeline of inhaled therapies for pulmonary fibrosis and other interstitial lung diseases. Its programs include AP01, AP02, and AP03, which aim to deliver medicines directly to lung tissue. The approach is intended to improve local drug exposure while potentially reducing systemic side effects compared with oral treatment.
Once Upon a Farm
Ticker: OFRM | Exchange: NYSE | Sector: FoodTech & Food & Beverage | Market Cap at IPO Price: US$724.2 million | Primary Gross Proceeds: US$137.4 million
Once Upon a Farm listed on the NYSE as a consumer food company serving babies, toddlers, and children. Its products include organic cold-pressed pouches, oat bars, and frozen meals, with an emphasis on childhood nutrition. The base IPO generated approximately US$137.4 million in primary gross proceeds.
Veradermics
Ticker: MANE | Exchange: NYSE | Sector: Biotech & Pharma | Market Cap at IPO Price: US$710.3 million | Primary Gross Proceeds: US$256.3 million
Veradermics went public with a dermatology development program focused on pattern hair loss in men and women. Its lead candidate, VDPHL01, is a non-hormonal oral treatment being evaluated in placebo-controlled clinical studies. The IPO raised approximately US$256.3 million in base primary gross proceeds.
SpyGlass Pharma
Ticker: SGP | Exchange: Nasdaq | Sector: MedTech | Market Cap at IPO Price: US$534.9 million | Primary Gross Proceeds: US$150 million
SpyGlass Pharma listed a device-enabled drug-delivery platform focused on chronic eye disease. Its BIM-IOL System is intended to combine cataract surgery with sustained delivery of bimatoprost for patients with glaucoma or ocular hypertension. The platform aims to reduce intraocular pressure without relying solely on repeated application of eye drops.
Mobia Medical
Ticker: MOBI | Exchange: Nasdaq | Sector: MedTech | Market Cap at IPO Price: US$498.8 million | Primary Gross Proceeds: US$150 million
Mobia Medical entered public markets with Vivistim Paired VNS Therapy, a device used in stroke rehabilitation. The FDA-approved system pairs vagus nerve stimulation with therapy to improve upper-extremity motor function among some chronic ischemic stroke survivors. Its offering provided a public-market listing for a company focused on neurostimulation-assisted rehabilitation.
Rank One Computing
Ticker: ROC | Exchange: Nasdaq | Sector: Defense, Security & Public Safety | Market Cap at IPO Price: US$114.5 million | Primary Gross Proceeds: US$24 million
Rank One Computing, operating as ROC, listed its Vision AI and biometrics software on Nasdaq. Its platform combines multimodal biometrics, video analytics, identity verification, and mission intelligence for defense, public safety, physical security, and digital identity applications. The company's US$24 million base IPO was one of the smaller offerings in the selection.
Buda Juice
Ticker: BUDA | Exchange: NYSE American | Sector: FoodTech & Food & Beverage | Market Cap at IPO Price: US$94.3 million | Primary Gross Proceeds: US$20 million
Buda Juice listed on NYSE American with a consumer beverage business focused on cold-crafted juices and wellness products. The company markets its UltraFresh products through retail distribution channels. Its US$20 million base IPO was intended to support production capacity, distribution, marketing, and working capital.
Swarmer
Ticker: SWMR | Exchange: Nasdaq | Sector: Defense, Security & Public Safety | Market Cap at IPO Price: US$61.5 million | Primary Gross Proceeds: US$15 million
Swarmer listed on Nasdaq with software for coordinating autonomous unmanned systems. Its technology covers autonomous navigation, AI-enabled collaboration, real-time operational data, and the coordination of multiple drones. The company raised US$15 million in the base IPO before any exercise of the underwriters’ additional-share option.
Exyn Technologies
Ticker: EXYN | Exchange: Nasdaq | Sector: Aerospace, Aviation & Drones | Market Cap at IPO Price: US$59.7 million (provisional; unit-based pricing) | Primary Gross Proceeds: US$19.4 million
Exyn Technologies went public with autonomy and 3D mapping technology for GPS-denied environments. Its software and hardware support navigation and mapping in industries such as mining, construction, geospatial services, oil and gas, and defense. The US$19.4 million base IPO was structured as units containing one common share and one warrant each, not as a shares-only offering.
Vida Global
Ticker: VIDA | Exchange: NYSE American / NYSE Texas | Sector: AI, Data & Infrastructure | Market Cap at IPO Price: US$57.1 million | Primary Gross Proceeds: US$15 million
Vida Global completed a small-cap IPO with a cloud-based AI Agent Operating System for businesses. Its platform helps enterprises and channel partners deploy and manage agents across voice, messaging, email, and web workflows. The company’s shares began trading on both NYSE American and NYSE Texas under the symbol VIDA.
Methodology
This article tracks 30 U.S.-based startups that completed public listings between January 1 and June 30, 2026. The companies are ordered by their basic market capitalizations at the IPO price, rather than by proceeds raised. The selection covers technology-driven businesses across several sectors and is not presented as a census of every U.S. IPO during the period.
Market capitalization at IPO is calculated using the final offering price multiplied by basic common shares outstanding at pricing, excluding dilution from options and other potential shares. Primary gross proceeds reflect capital raised by the issuer in the base offering before underwriting discounts and offering expenses. Exyn Technologies is an exception to the shares-only description because its US$19.4 million base offering consisted of units containing one common share and one warrant per unit.
The proceeds figures exclude underwriters’ over-allotment options, proceeds received by selling shareholders, and separate concurrent private placements. Exchange designations refer to the companies’ IPO listings, and secondary or dual listings do not increase the count of companies. The figures draw on company pricing announcements, IPO prospectuses and other regulatory filings, exchange statements, and financial reporting.
The 30 selected offerings generated approximately US$90.494 billion in reported base primary gross proceeds, but SpaceX alone contributed US$75 billion and Cerebras Systems added US$5.55 billion. Excluding SpaceX, the other 29 issuers raised approximately US$15.494 billion, illustrating how a single unusually large transaction changed the headline picture. The proceeds cover issuer share sales and, in Exyn’s case, share-and-warrant units, rather than secondary sales or over-allotment exercises.
Biotech and pharma accounted for 12 of the 30 listings and approximately US$4.377 billion in base proceeds, while the largest single offering came from the space sector. Across the selection, 22 issuers raised less than US$500 million each, with offerings ranging from US$15 million to US$75 billion. These figures describe the composition of the selected startup IPOs, not the performance or breadth of the entire U.S. IPO marke