The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 5/20/23 featuring funding details for Obie, Prime Roots, Ethernovia, and sixteen other deals representing $794M in new funding that you need to know about.
Azteco – $6.0M
Santa Monica-based Azteco is a consumer Bitcoin platform that provides Bitcoin vouchers for global financial transactions. Founded by Akin Fernandez, Paul Ferguson, and Ryan Dippmann in 2019, Azteco has now raised a total of $6.0M in total equity funding and is backed by Aleka Capital, David Van Der Weele, Gaingels, Hivemind Ventures, Jack Dorsey, Lightning Ventures, Ride Wave Ventures, Sunil Rajaraman, and Visary Capital.
Eagle Eye Networks – $100.0M
Austin-based Eagle Eye Networks is a cloud video surveillance company that is transitioning all aspects of traditional video surveillance to the cloud. Founded by Dean Drako in 2012, Eagle Eye Networks has now raised a total of $175.0M in total equity funding and is backed by SECOM.
Glowforge – $20.0M
Seattle-based Glowforge is a manufacturer of 3D laser printers intended to offer printing services on a wide range of materials and many more. Founded by Dan Shapiro, Mark Gosselin, and Tony Wright in 2014, Glowforge has now raised a total of $105.3M in total equity funding and is backed by DFJ Growth, Foundry Group, Revolution Growth, and True Ventures.
Gradiant – $225.0M
Woburn-based Gradiant is a solutions provider and developer of cleantech water projects for advanced water and wastewater treatment. Founded by Anurag Bajpayee and Prakash Govindan in 2013, Gradiant has now raised a total of $392.4M in total equity funding and is backed by BoltRock Holdings and Centaurus Capital LP.
Attention seed-stage founders! 43North is on the hunt for its next cohort. Five companies will receive a $1M investment for 5% equity. The best part? The money is only the beginning. At 43North, you’ll gain access to funding, mentorship and connections designed to fuel your growth and propel your business forward. Learn more and apply at 43North.org.
HackerNoon – $250K
Edwards-based HackerNoon publishes technology stories and builds publishing software. Founded by David Smooke and Linh Smooke in 2016, HackerNoon has now raised a total of $2.8M in total equity funding and is backed by Arweave.
Hallow – $50.0M
Chicago-based Hallow is a Catholic prayer and meditation app that hopes to help people grow closer to God. Founded by Alessandro DiSanto, Alex Jones, and Erich Kerekes in 2018, Hallow has now raised a total of $105.0M in total equity funding and is backed by Colin Moran, Goodwater Capital, and Highland Capital Partners.
Hippocratic AI – $50.0M
California-based Hippocratic aims to develop the safest artificial Health General Intelligence (HGI). Founded by Alex Miller, Munjal Shah, and Vishal Parikh in 2022, Hippocratic AI has now raised a total of $50.0M in total equity funding and is backed by Andreessen Horowitz and General Catalyst.
Hook Security – $5.5M
Greenville-based Hook Security is a cybersecurity training company introducing Psychological Security to the outdated Security Awareness Training industry. Founded by Zachary Eikenberry in 2019, Hook Security has now raised a total of $7.1M in total equity funding and is backed by DeepWork Capital, Florida Opportunity Fund, Stout Street Capital, and TampaBay.Ventures.
Could your startup us a $1M investment, plus mentorship, and support to scale? Join 43North’s Why to Apply Webinar on May 31! REGISTER HERE.
Obie – $25.5M
Chicago-based Obie is an insurtech startup that offers insurance and risk management for real estate investors. Founded by Aaron Letzeiser and Ryan Letzeiser in 2017, Obie has now raised a total of $39.2M in total equity funding and is backed by Battery Ventures, Brick & Mortar Ventures, and DivcoWest.
Odyssey Energy Solutions – $15.0M
Boulder-based Odyssey provides technology and finance solutions for distributed renewable energy companies at every stage of project deployment Founded by Cathy Zoi and Emily McAteer in 2017, Odyssey Energy Solutions has now raised a total of $20.3M in total equity funding and is backed by Abstract Ventures, Climate Capital, Equal Ventures, Equator, Founder Collective, MCJ Collective, Transition Venture Capital, Twelve Below, and Union Square Ventures.
Quince – $77.0M
San Francisco-based Quince is an affordable luxury brand that sells quality fashion and home goods at radically low prices directly from the factory floor. Founded by Sid Gupta in 2018, Quince has now raised a total of $141.5M in total equity funding and is backed by 8VC, Basis Set Ventures, GGV Capital, Insight Partners, Lugard Road Capital, and Wellington Management.
Prime Roots – $30.0M
Berkeley-based Prime Roots makes mycelium based meats products focusing on deli and charcuterie products. Founded by Joshua Nixon and Kimberlie Le in 2017, Prime Roots has now raised a total of $48.5M in total equity funding and is backed by Alumni Ventures, Diamond Edge Ventures, Gaingels, Hyphen Capital, Meach Cove Capital, Monde Nissin, Pangaea Ventures, Prosus, Solasta Ventures, SOSV, The House Fund, Top Tier Capital Partners, and True Ventures.
Attention seed-stage founders! 43North is on the hunt for its next cohort. Five companies will receive a $1M investment for 5% equity. The best part? The money is only the beginning. At 43North, you’ll gain access to funding, mentorship and connections designed to fuel your growth and propel your business forward. Learn more and apply at 43North.org.
Kelvin – $30.0M
Brooklyn-based Kelvin is an energy management and electrification platform for radiator-heated buildings. Founded by Marshall Cox in 2013, Kelvin has now raised a total of $34.3M in total equity funding and is backed by 2150, Partnership Fund for New York City, and Schmidt Family Foundation.
RevenueHero – $5.1M
Claymont-based RevenueHero is a sales software developer that helps sales teams focus their time on qualified leads. Founded by Charanyan Venkataraghavan and Krupesh Muthukumar in 2021, RevenueHero has now raised a total of $5.1M in total equity funding and is backed by Stellaris Venture Partners and Together Fund.
River Financial – $35.0M
San Francisco-based River Financial is a bitcoin financial institution allowing long-term investors to buy and mine bitcoin. Founded by Alexander Leishman and Andrew Benson in 2019, River Financial has now raised a total of $52.7M in total equity funding and is backed by Alarko Ventures, Cygni Capital, Esas Ventures, Goldcrest Capital, Kingsway Capital, M13, Peter Thiel, and Valor Equity Partners.
Attention seed-stage founders! 43North is on the hunt for its next cohort. Five companies will receive a $1M investment for 5% equity. The best part? The money is only the beginning. At 43North, you’ll gain access to funding, mentorship and connections designed to fuel your growth and propel your business forward. Learn more and apply at 43North.org.
Union.ai – $19.1M
Bellevue-based Union.ai is a Kubernetes-native workflow orchestration platform for data and machine learning at scale. Founded by George Snelling, Haytham Abuelfutuh, and Ketan Umare in 2020, Union.ai has now raised a total of $29.1M in total equity funding and is backed by Nava Ventures and New Enterprise Associates.
Alloy Enterprises – $26.0M
Somerville-based Alloy Enterprises operates as industry disruptors looking to tackle inefficiencies in conventional manufacturing. Founded by Alison Forsyth, Andrea Bedell, and Nick Mykulowycz in 2020, Alloy Enterprises has now raised a total of $33.7M in total equity funding and is backed by Congruent Ventures, Flybridge, FootPrint Coalition, MassMutual Impact Investing, Piva Capital, Riot Ventures, and Unless.
Ethernovia – $64.0M
San Jose-based Ethernovia is a developer of an Ethernet system that provides the next evolution in vehicle communication. Founded by Darren Engelkemier, Hossein Sedarat, and Ramin Shirani in 2018, Ethernovia has now raised a total of $64.0M in total equity funding and is backed by AMD Ventures, ENEA Capital, Fall Line Capital, Porsche Automobil Holding, Qualcomm Ventures, Taiwania Capital Management Corporation, VentureTech Alliance, and Western Digital Capital.
Incentivio – $10.0M
Boston-based Incentivio is helping restaurants win restaurant 2.0 by transforming the restaurant experience for the digital age. Founded by Rajat Bhakhri and Sashika Dias in 2016, Incentivio has now raised a total of $10.2M in total equity funding and is backed by Ardent Venture Partners, Grotech Ventures, and Osage Venture Partners.
Could your startup us a $1M investment, plus mentorship, and support to scale? Join 43North’s Why to Apply Webinar on May 31! REGISTER HERE.
