Sealed round

A "sealed round" typically refers to a type of funding round in a startup's fundraising process. In this context, it signifies that the round of financing has been formally closed and that all the capital from investors has been secured. Once a round is sealed, the startup usually will not accept any more investments for that round and will focus on utilizing the capital raised to achieve specific milestones. In a broader context, the term "sealed round" can also refer to the specifications of particular ammunition.