Innovation

Special Aerospace Services Buying Space Engineering Company Quintron Systems

By Amit Chowdhry ● May 10, 2024

Godspeed Capital Management LP, a lower middle-market defense and government services, solutions, and technology-focused private equity firm, announced the acquisition of Quintron Systems by SAS, its recently launched space engineering, defense, and communications technology solutions platform.

Reveal Buying AI-Based E-Discovery And Investigations Company Onna

By Amit Chowdhry ● May 10, 2024

Reveal, a global provider of the leading AI-powered eDiscovery, review, and investigations platform, has announced the acquisition of Onna Technologies, a leading provider in helping companies manage unstructured data from cloud-based collaboration tools. Reveal is enhancing the left side of the Electronic Discovery Reference Model (EDRM) and its end-to-end e-discovery platform through this strategic acquisition of the clear industry leader in data collection, analysis, and action. From the collection to the courtroom, Reveal offers the most comprehensive spectrum of AI-powered software solutions in the legal industry and beyond.

Renegade Partners: $128 Million Fund II Revealed

By Amit Chowdhry ● May 10, 2024

San Francisco-based Renegade Partners, an early-stage venture firm investing in tech companies, announced Fund II. Renegade will invest the $128 million (mostly at Series A) in 20 companies. All of Renegade Partners’ institutional investors, which include pensions, foundations, and an Ivy League endowment, have matched or increased their allocations for Fund II, bringing the total AUM to $228 million.

inHEART: Medical Device Company Raises $11 Million

By Amit Chowdhry ● May 9, 2024

inHEART, a medical device company offering the world's most advanced and AI-driven digital twin of the heart announced it has raised $11 million to drive commercial growth of its therapeutic software solution for cardiac ablation procedures and advance the development of its predictive cardiac models for heart failure, sudden cardiac death, and cardio-embolic stroke.

BioCatch: Permira To Buy A Majority Position At $1.3 Billion Valuation

By Amit Chowdhry ● May 9, 2024

BioCatch, a global leader in digital fraud detection and financial crime prevention powered by behavioral biometric intelligence, announced that Permira Growth Opportunities II, a fund advised by global private equity firm Permira, has agreed to acquire a majority position in BioCatch. This deal is expected to accelerate BioCatch’s global expansion, advance its innovative product roadmap, and support its continued overall growth.

Stockbridge: Final Closing Of Fifth Valued-Add Fund At $709 Million

By Amit Chowdhry ● May 9, 2024

Stockbridge announced the final closing of the fifth fund (the "Fund") within its closed-end value-add series for $709 million in capital commitments. The final closing, held on April 19, 2024, marks the largest capital raise in the fund series' history.

StrongDM: Zero Trust Privileged Access Company Raises $34 Million

By Amit Chowdhry ● May 9, 2024

StrongDM, a Zero Trust privileged access company, announced the closing of a $34 million Series C funding round led by Anchor Capital, with participation from new investors Capital One Ventures, Cisco Investments, Frontline Ventures, and Singtel Innov8, and existing investors including GV, Sequoia Capital, and True Ventures. This funding round highlights StrongDM's commitment to reshaping enterprise security with its revolutionary Zero Trust privileged access management (PAM) solution. The Series C funding round brings StrongDM's total funding to $96 million.

Danti: Earth Data Search Engine Company Secures $5 Million

By Amit Chowdhry ● May 9, 2024

Danti, an AI company building a transformative AI Data Analyst who can answer questions about any place and time, announced it had raised $5 million in a seed round led by Shield Capital. Existing investors Tech Square Ventures, Humba Ventures, Leo Polovets, Space.VC, and Radius Capital also joined the round.

Imec.xpand: €300 Million Fund Launched To Accelerate Semiconductor And Nanotechnology Innovations

By Amit Chowdhry ● May 9, 2024

Imec.xpand, an independent global venture capital fund, today announced the launch of a new €300 million fund aimed at accelerating the growth of transformative semiconductor and nanotechnology innovations. Launched as a collaborative effort with imec, the world-leading R&D and innovation hub in nanoelectronics, this fund will invest in startups that have the potential to be globally disruptive within their target domains. The fund was also launched to fuel semiconductor innovation beyond traditional applications and drive the next-generation technologies ten years ahead.

Apex: AI Security Leader Company Secures $7 Million

By Amit Chowdhry ● May 9, 2024

Apex, a leader in AI security, announced that it emerged from stealth with $7 million in seed funding. The funding round was co-led by Sequoia Capital and Index Ventures, with notable angel investors participating.

Bricklayer: Autonomous Cybersecurity Solution Company Raises $2.5 Million

By Amit Chowdhry ● May 9, 2024

Bricklayer AI has announced a $2.5 million pre-seed investment to advance the product development of its autonomous AI security analyst solution. This pre-seed round was oversubscribed, with participation from Sovereign's Capital, Dreamit Ventures, VIPC's Virginia Venture Partners, BlueWing Ventures, and Blu Ventures, and cybersecurity industry leaders.

Hyde Park Venture Partners: $98 Million Fund IV Closed

By Amit Chowdhry ● May 9, 2024

Hyde Park Venture Partners, an early-stage venture capital fund headquartered in Chicago, has announced the raise of $98 million Hyde Park Venture Partners Fund IV. Founded in 2012, Hyde Park Venture Partners invests in early-stage startups with founders primarily in the Midwest and Toronto. Repeat backers, including the Illinois Growth and Innovation Fund, RK Mellon Foundation, Renaissance Venture Capital, and new partner institutions, including NVNG and Cintrifuse Capital, are backing HPVP Fund IV.

Mimic: Ransomware Defense Company Raises $27 Million

By Amit Chowdhry ● May 9, 2024

Mimic, a ransomware defense company, announced that it has emerged from stealth and that it has secured a seed round of funding of $27 million led by Ballistic Ventures, with investment from Menlo Ventures, Team8, Wing Venture Capital and Shield Capital.

Palm Beach Capital: Over $350 Million Raised For Sixth Fund

By Amit Chowdhry ● May 9, 2024

Middle market private equity firm Palm Beach Capital announced that it has closed Palm Beach Capital Fund VI, L.P., which is its sixth private equity fund dedicated to partnering with founders, business owners, and management teams in key sector focus areas. Fund VI surpassed $350 million, significantly surpassing its target of $275 million.

EnviroSpark: EV Charging Company Raises $50 Million

By Amit Chowdhry ● May 9, 2024

Electric vehicle (EV) charging company EnviroSpark Energy Solutions announced it has secured a $50 million investment by funds advised by Basalt Infrastructure Partners LLP, a leading mid-market infrastructure equity investment firm focusing on investments in Europe and North America.

LayerX: Browser Security Platform Company Secures $26 Million

By Amit Chowdhry ● May 9, 2024

LayerX, the innovator behind the LayerX Browser Security platform, announced $26 million in Series A funding led by Glilot+ (the early-growth fund of Glilot Capital Partners), with participation from Dell Technologies Capital and other investors. In connection with the funding round, Lior Litwak, Managing Partner at Glilot Capital and Head of Glilot+, and Yair Snir, Managing Partner at Dell Technologies Capital, will join the LayerX board.

Transcarent: Health And Care Platform Company Closes $126 Million At $2.2 Billion Valuation

By Amit Chowdhry ● May 9, 2024

Transcarent has announced a $126 million Series D investment led by General Catalyst and 7wireVentures. New investors Geodesic Capital and Memorial Hermann Health System join the group, which also has support from previous investors Threshold Ventures, Kinnevik, Ally Bridge Group, Human Capital, Merck Global Health Innovation Fund, Alta Partners, and Leaps by Bayer.

Karius: Genomic Diagnostics Company Secures $100 Million

By Amit Chowdhry ● May 9, 2024

Karius, a leader in genomic diagnostics for infectious disease, announced it has secured $100 million in Series C funding. The funding round was co-led by Khosla Ventures and new investors 5AM Ventures and Gilde Healthcare. Also joining this round were new investor Seventure Partners and existing investors Softbank Vision Fund 2, General Catalyst, HBM Healthcare Investments, Blue Water Life Sciences, Innovation Endeavors, Waycross Ventures, and others.

AISAP: Point Of Care Assisted Diagnosis Company Secures $13 Million

By Amit Chowdhry ● May 9, 2024

AISAP—a company that built an AI-powered Point Of Care Assisted Diagnosis (POCAD) solution that is transforming the medical ultrasound industry—announced its seed funding round. The company secured $13 million, led by Harel Insurance Investments & Financial Services Ltd. and Shoni Top Ventures, L.P.

Livara Health: Valued-Based Musculoskeletal Management Company Raises $15 Million

By Amit Chowdhry ● May 9, 2024

Livara Health, a value-based musculoskeletal (MSK) management leader, announced that it has raised $15 million in Series B funding. The round was led by A1 Health Ventures and included existing investors Polaris Partners, Providence Ventures, Martin Ventures, and a new strategic investor.

Latus Bio: Patient-Centric And Product-Oriented Gene Therapy Company Raises $54 Million

By Amit Chowdhry ● May 9, 2024

Latus Bio, a biotechnology company developing novel gene therapy candidates for disorders of the central nervous system (CNS), announced its launch and an initial closing of $54 million in Series A funding. 8VC and DCVC Bio are leading the funding round. So far, Samsung Life Science Fund (created by Samsung C&T, Samsung Biologics, Samsung Bioepis, and Samsung Venture Investment Corporation), The Children’s Hospital of Philadelphia Foundation, Benjamin Franklin Technology Partners, Modi Ventures, and Gaingels have joined as syndicate partners.

Aikido: Security Platform Company Raises $17 Million

By Amit Chowdhry ● May 9, 2024

Aikido, a no BS security platform for developers and SMEs, announced it has raised $17 million in Series A funding led by Singular.vc, with participation from Notion Capital and Connect Ventures. This funding round comes six months after Aikido raised $5.3 million in seed funding, making it the fastest-capitalized startup in Belgian history.

LottieFiles: Strategic Investment Raised From Webflow And Figma Ventures

By Amit Chowdhry ● May 9, 2024

Animation design platform LottieFiles announced a strategic investment from Figma Ventures and Webflow Ventures. And the current list of LottieFiles investors includes Adobe Fund for Design, Microsoft Ventures, Automattic, Square Peg Capital, and other renowned names. So far, the company has raised over $47 million and has over 9 million users and 280,000+ teams using its motion design platform.

Rippl Buys AI Healthcare Company Kinto

By Amit Chowdhry ● May 9, 2024

Rippl, a leading dementia-focused specialty care provider, announced it had acquired Kinto - a Boston-based AI-enabled dementia caregiver support platform. This combination will enable the companies to reach an exponentially larger group of people living with dementia and their caregivers with human-centered care far beyond traditional brick-and-mortar models.

Altruist: $169 Million Raised To Create New Standards For Wealth Management

By Amit Chowdhry ● May 8, 2024

Altruist, a modern custodian built for RIAs, announced a $169 million Series E funding round led by ICONIQ Growth with participation from new investor Granite Capital Management and continued support from existing investors Adams Street Partners and Sound Ventures. The new funding round brings the company’s total funding to over $450M and values the company north of $1.5B. In connection with the funding round, Yoonkee Sull, General Partner at ICONIQ Growth, will join the board of directors.

Volta: Digital Asset Operations Management Company Raises $4.1 Million

By Amit Chowdhry ● May 8, 2024

Volta is a company that is transforming the digital asset industry with the introduction of Volta Circuit, a multi-signature, non-custodial platform that has secured $4.1 million in seed funding from Fika Ventures, and Haven Ventures, along with support from Soma Capital, Dispersion Capital, and Uphonest Capital. The platform has set a benchmark as the new standard for smart wallet infrastructure, offering the fastest, easiest, and most secure solution for self-custody.

Maia Farms: $2.3 Million Raised To Transform Global Protein Supply With Mycelium

By Amit Chowdhry ● May 8, 2024

Maia Farms, a company focused on transforming the global protein supply with mycelium, announced the successful closure of its pre-seed funding round. Maia Farms raised over $2 million between private capital and matching grant funding. This marks a significant milestone in the company's mission to provide globally accessible and superior protein sources.

Legion: Workforce Management Company Secures $50 Million

By Amit Chowdhry ● May 8, 2024

Workforce management (WFM) company Legion Technologies announced it has raised $50 million in a growth funding round led by Riverwood Capital. There was also strategic participation from existing investors, including Norwest, Stripes, Webb Investment Network, and XYZ.

Eleos: Digital Life Insurance Provider Company Raises $4 Million

By Amit Chowdhry ● May 8, 2024

Eleos announced it had raised a venture capital investment of $4 million in a seed round led by Fuel Ventures and Indico Capital, which comes just six months after the competition of a pre-seed round.

SpuceID: Enabling Users To Control Their Data Across All Digital Interactions

By Amit Chowdhry ● May 8, 2024

SpruceID is a company building a future where users own their identity and data across all digital interactions. And the company's open-source credentialing infrastructure is standards-compliant, production-ready, and extensible to enterprise and government IT systems. Pulse 2.0 interviewed SpruceID co-founder and CEO Wayne Chang to learn more about the company.