#6: (5/20/24) Early & Growth Stage Tech Startup Funding Recap!
Check Out This Week's Venture Capital Investment Summary Spanning Early & Growth-Stage US Based Environmental Technology & Enterprise Software Startups!
Every Monday, the team here at Bearhug Recruiting aggregates, researches, and publishes a recap of the prior week's fundraising activity within the early and growth-stage Environmental Technology & Enterprise Software startup ecosystem.
This research not only allows us to keep our finger on the pulse of the markets we serve, but also benefits others who, like us, enjoy analyzing the latest trends that signal investor confidence AND startup growth within what we believe are the most exciting and impactful segments!
We also hope the people and companies we feature enjoy both a virtual fist bump from the team at Bearhug, plus benefit from some additional free market exposure to amplify their mission. So, make sure to give each one a look!
Here’s this week’s startup funding recap:
Pepper, led by Bowie Cheung, has raised a $30 million Series B funding round. The round was led by ICONIQ (Richa Mehta), with continued participation from existing backers Index Ventures, Greylock, Imaginary, and Harmony Partners. Pepper is an eCommerce platform for food services, convenience stores, and other marketplaces, which features a suite of AI powered tools for the distributor sales rep and customers to grow their market share. [Link] #Artificial Intelligence #E-Commerce #Food and Beverage #Food Distribution #Food Tech
Ndustrial, led by Jason Massey, has raised a $18.5 million Series B funding round. The round was co-led by ABB and GS Energy, joining existing partners such as Clean Energy Ventures (Dan Goldman) and ENGIE New Ventures. Ndustrial's AI-powered platform brings together hard-to-access production and energy data from nearly any industrial system to give customers a real-time understanding of energy intensity. The company's streamlined, user-friendly dashboard enables real-time insights for specific facilities and production lines, helping global industrial sites make better decisions and directly avoid over $100M in energy spend in the past decade. [Link] #Energy Efficiency #Manufacturing #Sustainability #Energy Tech #Environmental Technology #ClimateTech #CleanTech
Orange Charger, led by Nicholas Johnson, has raised a $6.5 million Seed funding round. The round was led by Munich Re Ventures and Climactic, with participation from Baukunst (Matt Thoms), Lincoln Properties Ventures, Crow Holdings, and Space Cadet Ventures. Orange provides an Energy Management Solution for multi family homes. The latest model of EV chargers and software platform is purpose-built for multifamily properties to serve 43 million Americans. [Link] #Charging Infrastructure #Energy Transition #Electric Vehicle #Energy Management #Renewable Energy #Environmental Technology #Sustainability #ClimateTech #CleanTech
PayHOA, led by Mike Bollinger, has raised a $27.5M Series A funding round. The round was led by Elephant VC (Peter Fallon). PayHOA is modern software for HOAs and association managers. Their intuitive system automates operations, so HOAs can focus on what's important. [Link] #PropTech
Laws of Motion, led by Carly Bigi, has raised a $5 million Seed funding round. The round was led by Corazon Capital (Sam Yagan) along with other backers including The Scout Program at Sequoia Capital, Leadout Capital, Raine Group Senior Consumer Advisor Eva Jeanbart-Lorenzotti and John Howard, Co-Managing Partner of Irving Place Capital and a Board Member of Good American, Skims, and Frame. Laws of Motion is an AI sizing technology company. It is launching SaaS AI sizing technology for apparel brands & retailers to create a personalized shopping experience for customers, and reduce the environmental impact of fast fashion, size sampling and returns and exchanges. Its new SaaS offering will enable brands to implement its AI sizing technology into their websites and mobile apps and provide them with real-time access to dashboards measuring impact to KPIs like conversion rate, size sampling, and return rate, visualizing opportunities for sizing optimization. [Link] #Retail Tech #Apparel & Fashion #Artificial Intelligence #Next-Gen Commerce #Environmental Technology
Bedrock Materials, led by Spencer Gore, has raised a $9 million Seed funding round. The round was led by Trucks Venture Capital, Refactor Capital, and Version One Ventures. Additional investment was provided by Hanover Technology Investment Management, SpaceCadet Ventures, Brainstorm Capital, Evergreen Climate Innovations (Paul Seidler), Expansion VC, Climate Capital, Quest Venture Partners, Meliorate Partners, Valia Ventures, Ritual Capital, and individual angel investors. Bedrock Materials specializes in producing essential materials for low-cost, eco-friendly sodium-ion batteries, which are seen as an alternative to lithium-ion versions, utilizing affordable, widely available materials. Last month, the company began R&D scale production of battery precursor materials at its facility in Near West Chicago. [Link] #CleanTech #Renewable Energy #Manufacturing #Environmental Technology #Sustainability #ClimateTech #GreenTech #Energy Storage
Gamma, led by Grant Lee, has raised a $12 million Series A funding round. The round was led by Accel (Vas Natarajan), with participation from Script Capital, South Park Commons, Lorimer Ventures, and Fellows Fund (Alex Ren). Gamma provides an AI powered presentation platform that allows users to share links async, export pdfs, and save images. It allows users to create unlimited presentations, websites, and more, access AI for text, images, and search, apply eye-catching, expert-level designs and layouts, quickly rewrite or autocomplete content, engage with interactive galleries, videos, and embeds, visualize data with charts, diagrams, and tables. [Link] #Generative AI #MarTech #SalesTech
GoodShip, led by Ryan Soskin, has raised a $8 million Series A funding round. The round was led by Bessemer Venture Partners (Mike Droesch) with participation from Ironspring Ventures, Chicago Ventures, FUSE VC, Cercano Management, 53 Stations, Andrew Silver, Nichole Wischoff, and other angels. GoodShip enhances shipper’s TMS with a suite of features designed to optimize spend and service outcomes. A recommendation engine provides critical performance information, and users can take corrective actions directly within it. In-app messaging and tags move vital conversations from emails and create a centralized, data-driven inbox, while the platform’s purpose-built procurement workflow and AI-powered rewards optimizer increase the efficiency of bid execution and promote longer-lasting courier contracts. [Link] #Procurement #Analytics #Transportation #Supply Chain & Logistics #Artificial Intelligence
Voxel51, led by Brian Moore, has raised a $30 million Series B funding round. The round was led by Bessemer Venture Partners (Lindsey Li), with participation from new investor Tru Arrow Partners and existing investors Drive Capital, Top Harvest Capital, Shasta Ventures and ID Ventures. Voxel51 provides open source and commercial software that enables teams to build datasets and computer vision models that power machine learning and artificial intelligence applications. Engineers and scientists have integrated open source FiftyOne into their workflows, and enterprise customers spanning from automotive, robotics, security and retail to healthcare use it FiftyOne Teams to securely collaborate on datasets and models. [Link] #Computer Vision #Artificial Intelligence #Machine Learning #ML Ops #DevTools #Data Infrastructure #DevOps
AssetWatch, led by Brian Graham, has raised a $38 million Series B funding round. The round was led by Wellington Management, with participation from G2 Venture Partners (David Mount), Triangle Peak Partners, Standard Investments, Osage University Partners, and JobsOhio Growth Capital Fund. AssetWatch specializes in predictive maintenance solutions, providing an end-to-end remote condition monitoring service to eliminate unplanned downtime and optimize operations for global manufacturers. The solution consists of a network of wireless sensors and communication hubs, software, and condition monitoring engineers. [Link] #Manufacturing #Internet of Things #Industrial Automation #Machine Learning #Enterprise Asset Management #Asset Lifecycle Management #Predictive Analytics #Environmental Technology
*Note: The companies we feature in our weekly recap are a very small subset of a much larger batch, carefully chosen based on our team's assessment of how each company aligns with our GTM search practice. It’s worth noting that most startups raise funding rounds privately, often long before the news is announced publicly!