Innovation

Andreessen Horowitz: $7.2 Billion Raised For Several Venture Strategies

By Amit Chowdhry ● Apr 17, 2024

Venture capital firm Andreessen Horowitz announced it has raised $7.2 billion for several venture strategies. The funding will be spread as follows: American Dynamism ($600 million), Apps ($1 billion), Games ($600 million), Infrastructure ($1.25 billion), and Growth ($3.75 billion).

Two Chairs: Modern Behavioral Health Company Raises $72 Million

By Amit Chowdhry ● Apr 17, 2024

Modern behavioral health company Two Chairs announced that it has closed a $72 million Series C equity and debt financing round led by Amplo. Fifth Down Capital and other investors also participated. Bridge Bank set up the debt financing.

Armis Buying Silk Security For $150 Million

By Amit Chowdhry ● Apr 17, 2024

Armis announced it has acquired Silk Security for a total of $150 million and will integrate the Silk Platform into the Armis Centrix AI-based Vulnerability Prioritization and Remediation solution to enhance its capabilities and now be able to provide security teams with a consolidated view of security findings that encompass all sources of data from on-premise devices to cloud compute, code, and application security tools, and fully manage and automate remediation.

Quilt: Smart Home Climate Solution Company Secures $33 Million

By Amit Chowdhry ● Apr 17, 2024

Quilt, a smart home climate solution company, announced a $33 million Series A funding round co-led by Energy Impact Partners and Galvanize Climate Solutions. Lowercarbon Capital, Gradient Ventures, MCJ Collective, Garage Capital, Incite Ventures, and Drew Scott also participated.

EdgeConneX: $1.9 Billion In Sustainability-Linked Financing Secured

By Amit Chowdhry ● Apr 16, 2024

EdgeConneX, a global Build-to-Suit and Build-to-Density Solutions leader, announced it secured an additional $1.9 billion in sustainability-linked financing to support its EMEA digital infrastructure expansion. This deal upsized EdgeConneX $2.9 billion in sustainability-linked financing (initially issued in October 2022).

Somite: AI-Based Stem Cell Therapy Company Closes $5.3 Million In Funding

By Amit Chowdhry ● Apr 16, 2024

Somite, a company aiming to become the OpenAI of stem cell biology, announced that it had raised $5.3 million in pre-seed funding. This funding round was led by TechAviv and joined by Next Coast Ventures, Trust Ventures, Texas Venture Partners, Lerer Hippeau, and others. The funding will be used to continue developing Somite’s proprietary AlphaStem AI platform, build Somite labs, and bring the first therapeutic asset to Phase 1 clinical trials.

Upstream Security: Funding Raised From Cisco Investments

By Amit Chowdhry ● Apr 16, 2024

Upstream Security, a leading provider of cybersecurity extended detection and response (XDR) for connected vehicles and IoT announced it received an investment from Cisco Investments.

Ecotrak: Intelligent Facilities Management Company Raises $30 Million

By Amit Chowdhry ● Apr 16, 2024

Ecotrak, a leading intelligent facility management platform, announced the closing of a $30 million funding round. Respida Capital led the round, which included participation from Carver Road Capital and existing investor Gala Capital Partners.

Cynomi: Leading vCISO Platform Provider Secures $20 Million

By Amit Chowdhry ● Apr 16, 2024

Cynomi, a leading vCISO platform provider for MSPs and MSSPs, announced $20 million in new funding. This funding round was led by Canaan, with Flint Capital, s16vc, and Aloniq among return investors. This funding round will also drive Cynomi's international expansion efforts, enabling the company to enhance the vCISO platform offerings and enable partners to overcome cybersecurity skills gaps and scale businesses up.

KODE Labs: Autonomous Smart Building Company Raises $30 Million

By Amit Chowdhry ● Apr 16, 2024

KODE Labs, a Detroit-based autonomous smart building startup, announced the closing of a $30 million Series B round. Headed by Maverix Private Equity, this milestone funding round also saw enthusiastic participation from esteemed partners TELUS Ventures and existing investor I Squared Capital. This funding round marks a significant moment for KODE, enabling the company to help buildings worldwide achieve net-zero emissions.

Vidyard: AI Avatar Video Messaging Company Closes $15 Million In Funding

By Amit Chowdhry ● Apr 16, 2024

Video messaging company Vidyard has introduced the industry’s first hyper-realistic AI Avatars (looks and sounds just like the user) to its Messages platform. Vidyard also revealed that it has secured $15 million in funding led by Export Development Canada (EDC) with participation from BMO Capital Partners and existing investors Battery Ventures, Bessemer Venture Partners, and iNovia Capital. Including this funding round, Vidyard has raised $90.7 million in total funding.

Rivos: RISC-V Accelerated Platform Company Raises Over $250 Million

By Amit Chowdhry ● Apr 16, 2024

Rivos, a RISC-V accelerated platform company targeting data analytics and Generative AI, announced it had raised over $250 million in its oversubscribed Series A-3 funding round. Matrix Capital Management, the largest investor in this round, joined the Board, represented by Romit Shah. This funding round also saw participation from new investors, including Intel Capital, MediaTek, Cambium Capital, CIDC, Capital TEN, and Hotung Venture Group, and additional participation from existing investors Walden Catalyst, Dell Technologies Capital, Koch Disruptive Technologies, and VentureTech Alliance.

Evolution Equity Partners: $1.1 Billion Closed For Technology Fund III

By Amit Chowdhry ● Apr 16, 2024

Evolution Equity Partners announced the final closing of Evolution Technology Fund III, LP, and total capital commitments of $1.1 billion to invest in visionary entrepreneurs building next-generation cybersecurity companies. This fundraising was oversubscribed by existing and new limited partners, representing a mix of institutions, sovereign investors, insurance companies, endowments, foundations, fund of funds, family offices, and high-net-worth individuals.

LQDX: Advanced Semiconductor Manufacturing Materials Company Raises $10 Million

By Amit Chowdhry ● Apr 16, 2024

Averatek, a developer of high-performance materials for advanced semiconductor manufacturing, announced that it has relaunched as LQDX ('lik-WID-ix) to focus on the rapid adoption of its AI-enabling chemistries and process technologies. The company also concluded a combined equity and initial government funding round of $10 million to fund this next growth stage.

Arcadia: Utility Data And Community Solar Company Closes $50 Million

By Amit Chowdhry ● Apr 16, 2024

Arcadia, a global utility data and community solar platform, announced the closing of a growth round. This funding will support the continued growth of the company's community solar program and product innovation utilizing AI to unlock new use cases built on the company's substantial energy data.

Upstage: Document AI Processing Company Secures $72 Million

By Amit Chowdhry ● Apr 16, 2024

Upstage, an AI company specializing in large language models (LLMs) and Document AI, announced that it has raised $72 million in a Series B funding round. With this latest funding round, Upstage has raised over $100 million since its founding in October 2020, making it the most funded South Korean AI software company in history.

Writ: $3.8 Million Raised To Help Companies Make Informed Decisions

By Amit Chowdhry ● Apr 16, 2024

Writ, a company rethinking how companies use data to make decisions, announced $3.8 million in Series Seed funding today. Gradient Ventures led the round, which included participation from Defy.vc, High Alpha, Toba Capital, and several angels.

Nectero Medical: $96 Million Secured To Develop Novel Therapies To Treat Aneurysmal Disease

By Amit Chowdhry ● Apr 16, 2024

Nectero Medical, a clinical-stage biotechnology company pioneering novel therapies to treat aneurysmal disease, announced the closing of its $96 million Series D funding round. This round was led by Norwest Venture Partners and included large investments from Boston Scientific Corporation, BioStar Capital, Cadence Healthcare Ventures, Aphelion Capital, and other firms.

DeepCure: Small Molecule Therapeutics Company Raises $24 Million

By Amit Chowdhry ● Apr 16, 2024

DeepCure, a leader in developing novel, small-molecule therapeutics powered by AI and chemistry automation, announced today the closing of a $24.6 million Series A-1 financing led by IAG Capital Partners (IAG) with participation from the company’s current investors. Since its founding, DeepCure has raised over $72 million in funding.

PeerDB: PostgreSQL Data Movement Platform Company Closes $3.6 Million

By Amit Chowdhry ● Apr 15, 2024

PeerDB, a leading data movement platform for PostgreSQL, announced it received $3.6 million in seed round funding. The investors in the round include lead investor 8VC, Y Combinator, Wayfinder Ventures, Webb Investment Network, Flex Capital, Rogue Capital, Pioneer Fund, Orange Collective, and several angel investors.

Tabs: Accounts Receivable Platform Secures $7 Million

By Amit Chowdhry ● Apr 15, 2024

Tabs, an Accounts Receivable (AR) platform for B2B businesses, announced a $7 million seed funding round led by Lightspeed Venture Partners. This round raises the company’s total funding to $12 million, including a pre-seed round from Primary Ventures.

Patlytics: AI-Based Patent Workflow Platform Company Raises $4.5 Million

By Amit Chowdhry ● Apr 15, 2024

AI-based patent workflow platform Patlytics announced it raised $4.5 million in seed funding led by Gradient, Google's AI-focused venture fund. Additional participating investors include 8VC, Joe Montana’s Liquid 2 Ventures, Tribe Capital, Vermilion Ventures, Gaingels, Alumni Ventures, Position Ventures, and several undisclosed angel investors, such as select partners from premier law firms and Datadog President Amit Agarwal.

Anrok: Sales Tax Platform Company Secures $30 Million

By Amit Chowdhry ● Apr 13, 2024

Anrok, a global sales tax platform for software companies, announced it has raised $30 million in a Series B funding round led by Khosla Ventures. The participants also included Sequoia Capital, Index Ventures, and others, including Karen Peacock (former CEO of Intercom), David Faugno (former CFO of Qualtrics and current president of 1Password), Alex Estevez (former CFO of Atlassian), and Elad Gil.

Cariloop: Caregiver Support Platform Company Raises $20 Million

By Amit Chowdhry ● Apr 13, 2024

Cariloop, a leading comprehensive caregiver support platform, announced the closing of its Series C funding round at $20 million. ABS Capital led this round, which included existing investors Noro-Moseley Partners, KCRise Fund, Revolution’s Rise of the Rest Seed Fund, and Patterson Thoma Family Office.

Carrar: Battery Module And Thermal Management Systems Company Raises $5.3 Million

By Amit Chowdhry ● Apr 13, 2024

Carrar, a provider of battery modules and thermal management systems for electric vehicles (EVs), announced the closing of its $5.3 million Series A funding round for delivering commercial automotive-grade battery modules for electric vehicles (EVs) with novel internal thermal management based on two-phase immersion technology.

Spresso: AI-Powered E-Commerce Solutions Company Raises Series A Funding

By Amit Chowdhry ● Apr 13, 2024

Spresso, a leading provider of AI-powered solutions for e-commerce businesses, announced an initial Series A investment from funds and accounts managed by BlackRock. This funding round will accelerate the company's global expansion, enabling businesses with a comprehensive suite of data-driven tools for optimizing growth, profitability, and operations.

Bite: Intelligent Kiosk Solutions Company Closes $9 Million

By Amit Chowdhry ● Apr 13, 2024

Bite, a provider of intelligent kiosk solutions for fast-casual and quick-service restaurants, announced it has secured $9 million in Series A funding. The round was led by Staley Capital, with participation from Graham Partners, Food-X, One Way Ventures, and Tamarisc Ventures. This funding round will drive Bite’s mission to elevate the hospitality experience by offering an intuitive ordering solution for guests placing orders in restaurant venues.

Platform Science: $125 Million In Growth Capital Raised

By Amit Chowdhry ● Apr 13, 2024

Platform Science, a leading-edge application platform for transportation, announced that it raised $125 million in growth capital to accelerate innovation in the commercial transportation sector. The key strategic investors in this round included C.R. England, Cummins, Daimler Truck, PACCAR, RyderVentures, and Schneider. And new financial investors included Activant Capital, BDT & MSD Partners, and Manhattan Venture Partners. Platform Science also saw strong participation from existing investors, including 8VC, NewRoad Capital Partners, and Prologis Ventures.

Catalyst Investment Partners: $186.9 Million In LP Commitments Closed For IOS Fund II

By Amit Chowdhry ● Apr 12, 2024

Leading IOS-focused investment manager Catalyst Investment Partners announced it has held a final close of Catalyst IOS Fund II oversubscribed with $186.9 million in LP commitments. Fund II received domestic and international broad-based institutional interest, surpassing a fundraising target of $150 million. This fund is the second in the firm’s IOS Fund Series focused on densely populated and infill industrial markets with high barriers to entry.

Adams Street Partners: $1 Billion Raised For First Middle Market CLO

By Amit Chowdhry ● Apr 12, 2024

The Private Credit team of Adams Street Partners, a private markets investment firm with over $58 billion in assets under management, announced the final closing of a $1 billion middle market collateralized loan obligation (CLO), ASP Summa. And the CLO is a first for Adams Street and was structured in partnership with American Equity Investment Life Insurance Company, a leading issuer of fixed index annuities.