Tech Funding Recap for May 10, 2021

Looking around us we can see just how much our lives have been changed by technology. The gadgets we use on a daily basis help make life more practical and more convenient. And there continues to be a demand for more products and services to further expedite processes.

Tech companies are meeting the call raising funds to provide products to meet these demands. Soci and Valtix are two on the cutting edge when it comes to being innovators in their field. Read on to find out more about their funding efforts.

Valtix

An increased reliance on tech has made lives more convenient, but it also makes cybersecurity more of an issue. Valtix is a cloud native security platform that is answering the call by filling gaps in application and network security across multiple cloud environments. Their system combines user security, data leakage, endpoint security, app firewall, malware protection, and intrusion detection.

The company’s representatives feel that the cloud will be leading the way in terms of infrastructure for the foreseeable future. Therefore, they are focusing on the public cloud in the creation of their system and other company goals.

The Valtix platform went live last year and works with Microsoft Azure, AWS, and Google Clouds. It encompasses industries including finance, retail, government, and health care. The company believes its widely spanning system will provide a solution for customers who would otherwise need to rely on multiple vendors for a security system or who would be forced to employ a system that was not adequate in meeting their needs.

The company recently raised $12.5 million in venture capital with the help of key strategic partners. The money will be used to address and improve the architecture of their system and increase focus on cloud security.

Soci

The pandemic has caused many businesses to redouble their efforts in the e-commerce space. This is especially challenging for retailers with more of a brick and mortar focus. Soci introduces a platform that helps brick and mortar businesses launch localized marketing campaigns that will help them reach online audiences.

Soci’s platform is based on a concept of using social media local pages and online review pages to lure customers away from Amazon and other major online retailers. It provides clients with the capabilities to manage local searches and maintain accurate information that is specific to their location. Its ability to connect with local audiences on major networks like Google, Yelp, and Facebook has been instrumental in helping businesses survive the pandemic.

The system also offers analytics that help clients determine how their locations are doing in terms of engagement and social reach. It integrates with touchpoints that are typically responsible for bringing in customers including Facebook, Google and Yelp.

The San Diego company recently announced the closing of a D round series that has yielded $80 million in funding. The money will be used to further improve their platform providing retailers with the tools that are so vital in our current economic climate.

Tech Funding Recap for May 3, 2021

Technology has played a major role in making our lives more convenient. Yet demand continues to grow when it comes to a need for products that do more, better, and faster.

Companies are answering the call by raising funds that will help them satisfy these demands. Wingcopter are Marxent are two organizations that have recently completed funding rounds that will help them grow their business. Here’s a recap of their accomplishments.

Marxent

The pandemic has taken everything to a virtual platform and, with the conveniences offered, the online medium shows no signs of slowing down any time soon. Marxent is riding the wave with a 3D home design platform that will make it easier for designers to sell products and services to customers.

Marxent’s 3D Cloud platform replicates everything from furnishings to fully designed rooms. It uses a complex technology to provide an authentic look that gives consumers a good idea of what to expect from the end product. It presents a more convenient way for customers to preview and buy products.

Marxent recently completed a $15 million funding round which will put them in a position to further develop their platform. This is significant in that it sets a path for solutions that will transform 2D photos and real world objects into digital twins that can be viewed on anything from a computer to a mobile device to mixed reality headsets. The technology is being picked up by big box retailers like Macy’s who use Marxent’s 3D Room Planner to sell furniture in-store using VR goggles.

The company will be using the funds it recently raised to expand the home categories they work in and form strategic partnerships with online platforms. They will also be opening offices in new locations to grow across Europe and other markets.

Wingcopter

With the coronavirus keeping many people at home, the need for door to door delivery services has been on the rise. Drones have been integrated to take on some of the burden. Germany based drone manufacturer, Wingcopter, is upping their drone technology to meet demands primarily focusing on the healthcare space.

The company specializes in the delivery of medical goods, packages and food but the coming of the vaccine has caused them to make medical supplies a priority for the time being. Their drones are efficient in delivering vaccines to different locations ensuring they get out to people quickly.

The drones the company manufactures have advanced capabilities and are able to operate in wind gusts of over 45 miles an hour, fly at speeds of 150 miles per hour and carry loads of up to 13 lbs. Their electric powered drones feature a tilt rotor mechanism that allows them to take off and land vertically like multicopters. The company recently partnered with Merck and the Frankfurt University of Applied Sciences to launch what they claim was the world’s first drone beyond visual line of sight flight between production facilities flying lab samples 15.5 miles.

Marxent recently announced the closing of a $22 million funding round. The proceeds will be used to expand its healthcare related activities, prepare for the upcoming launch of its next-gen drones, set up a partially automated production facility and grow its U.S. team.

Tech Funding Recap for April 19, 2021

Technology has gone far in making the world a more convenient place to live in, and it shows no signs of stopping. Tech-based companies are keeping up by raising funds to develop new products and make improvements to existing products.

Bolt and Verge Sense are two companies on the cutting edge that have recently closed funding campaigns that are helping them move forward. Read on to find out about their efforts.

Bolt

The pandemic has helped the e-commerce industry to grow in leaps and bounds. The downside is that it has also increased the occurrence of fraud that is likely to happen on online platforms. Bolt presents a solution with a machine learning system that fights e-commerce fraud.

The San Francisco-based company provides tools that streamline website transactions. They started out with systems revolving around currency in online checkouts but shifted their focus due to the prevalence of online fraud. Their current platform integrates with platforms like Shopify, Magento, Woocommerce, Salesforce, Commerce Cloud, and BigCommerce via their fraud detection system.

The system works by capturing mouse pointer locations, accuracies, typing speeds, copy and pasting behaviors, cart and checkout behavior. It uses machine learning algorithms to analyze variables in each transaction. Customers who seem suspicious are prompted for additional information before they can complete their orders.

In addition to being effective, the system is also ten times faster than their competitors as customers are not required to enter as much information before making a purchase.

Bolt recently announced the closing of a $75 million funding round which came in after a successful year in retail transactions.

VergeSense

Now that we are seeing a light at the end of the coronavirus pandemic tunnel, many employers are looking to bring their workers back into the office. VergeSense is making the process more convenient with their proprietary deep learning sensors that provide analytics as to how physical office space is being used. This will help control capacity and minimize overcrowding

VergeSense was founded in San Francisco in 2017 and is known for developing hardware and software to capture key data across the physical work space. Their system relies on sensors that detect motion, people, and objects. This is transformed into data that allows customers to understand what spaces are being used, when they are being used and by how many people.

The system uses a convolutional neural network (CNN), along with patented deep learning algorithms to determine how a room is being occupied. It then creates a mesh network so the sensors in the building can communicate with one another. It can be used wired or wirelessly and it is a convenient tool for businesses and building owners looking to adapt their spaces according to how they are being used.

VergeSense recently announced the closing of a $12 million B round funding campaign which will help the company further develop their technology. They have seen substantial growth in 2020 and they are expected to continue on that trajectory as more businesses welcome workers into the office in 2021.  

Tech Funding Recap for April 12, 2021

There is no doubt that the tech space is booming. Companies on the cutting edge are keeping up by raising funds and making acquisitions to improve and develop their products on an ongoing basis. Graphcore and Honeywell are two companies that have been upping their game in the past few months. Read on to find out more about their funding efforts and what they are bringing to the table.

Graphcore

When it comes to tech, AI is what drives it all. These intuitive systems are programmed to think like humans and play an integral role in machine learning and problem solving.

Graphcore brings new AI developments to the table with Intelligence Processing Units (IPUs) that are effective in speeding up AI applications. They are most focused on natural networks, deep learning, and machine learning. Their multicore design targets low precision arithmetic or in-memory computing, both of which enhance AI algorithm performance, resulting in improved natural language processing and computer vision, as well as boosts in other domains.

The company is a Bristol, UK-based startup that was founded in 2016. Its first commercial release was a 16-nanometer PCI express card known as C2. The card became available in 2018 and launched on Microsoft Azure in 2019 for the consumer market. It was responsible for breakthroughs in natural learning and machine intelligence.

Earlier this year, the company partnered with Dell to launch Cirrascale IPU Bare Metal Cloud, an IPU managed service from the Cirrascale Cloud provider. It also open sourced its libraries for building and executing apps on IPUs.

Graphcore recently announced that it raised $222 million in a series E funding led by the Ontario Teachers’ Pension Plan Board. The money will be used to support the company’s global expansion and continue to accelerate silicon systems and software development in the future.

Honeywell

Honeywell is another company active in the AI space. It announced that it will acquire Sparta Systems for $1.3 billion. This will allow it to gain control of quality management software (QMS) that will bring improvements to machine learning algorithms and other Ai capabilities. It will make the next phase of their development process possible.

The Honeywell company focuses on the life sciences sector and is making moves to integrate TrackWise digital QMS software from Sparta with internet of things (IoT) platforms. The goal of the project is to augment human decision making AI technology. The resulting algorithms should put a system into motion that analyzes data in real time and executes the processes in a measure of time that is mere milliseconds or even microseconds.

The merging of machine learning and application infused logic represents the next wave of IT. It presents an alternative to processing data through legacy batch mode processes that require data to be transferred to the cloud or a local datacenter. Instead, it allows data to be processed in real time speeding things up considerably.

Once data is processed, it can be shared with other applications. This will enable organizations to manage industrial IoT processes on a larger scale making workflows more manageable.

Tech Funding Recap for April 5, 2021

Technology is booming. Companies that are on the cutting edge are destined to shine in bringing innovative products to the world. They are working on funding campaigns that will help them keep up with the demand so they can continue churning out the products that are becoming vital to our lives.

AMP Robotics and Ducky Channel are two companies that have successfully recently completed their funding rounds. Read on to find out how the funds will be applied and to learn about the new developments they have coming.

AMP Robotics

According to the Environmental Protection Agency’s data the United States generated about 262 million tons of municipal waste in 2015. 91 tons of that waste was recycled and composted. However, the pandemic has caused many businesses to suspend recycling operations bringing down the amount of waste that is properly disposed of.

AMP Robotics presents a solution in the form of robotic systems that sorts recyclable material. The Denver-based company offers a platform that delivers pick up rates that are 80 items per minute higher than manual processes.

Its modular design allows facility managers to adapt it to existing workflows, and it can be tailored to individual brands and the SKU’s of the products being recycled. The AMP Robotic system can sort items like metals, batteries, capacitors, mixed plastics concrete, mixed wood, aluminum, thin film by color… and the list goes on.

The waste sorting robotics market is set to reach $12.6 billion dollars by 2024, yielding an annual growth rate of 16.52%. to keep up. AMP has recently closed a $55 million series B funding round. The funds will be used to scale business operations and develop AI applications that work with material recovery facilities to increase recycling rates.

Ducky Channel

Hypercasual games are simple games that are commonly played on mobile devices and they can be made almost anywhere in the world. Ducky Channel is a company based out of Russia that is responsible for games that have been played 145 million times and have generated $1 million in monthly revenue.

Hypercasual games are low commitment and, therefore, they can be played almost anywhere. You can play them during breaks at work, while waiting in line at the store, or even in the bathroom. They appeal to busy people with short attention spans and are a hit with both young and older generations. Their popularity has caused them to rank on top 100 lists and generate billions of dollars, with 95% of the revenue coming from ad sales.

Ducky’s games have been downloaded at least 25 million times and are accessed by users all over the world. Their games have been played in the United States, China, the United Kingdom, and Japan. The company tests their games and acquires feedback at rapid speed. The feedback is then passed on to developers. They take 50-50 splits of profit sharing and invest in hits as they are generated.

Ducky’s teams have developers all over the world. Their profitability has allowed them to raise $1 million in funding which will be used to continue their rapid developing and testing process.

Tech Funding Recap for March 15, 2021

Technology is growing in leaps and bounds. There is a constant need for developments that add convenience to our lives, and companies are answering the call, raising funds to contribute to innovative products and services.

Beyond Minds are Afresh are two companies that have reached their financial goals for March 2021. This article will outline their recent efforts and how the funding will be put to use.

Beyond Minds

AI is an integral part of tech. Research shows that business use of AI has increased by 270% in the last four years alone.

Beyond Minds offers a modular AI technology stack that is used in the development of enterprise products. The company provides innovative datasets and representations that are key in training computer vision, natural language, text to speech, and time series models scaled down to run in small computer environments.

The organization consults with companies to assess their AI needs to create and deploy suitable customized products. Then they continue to monitor and improve their products using live data and feedback to optimize their effectiveness in the given application.

Their efforts are not entirely new to the tech space. Similarities have been drawn to Data Robot’s AI platform. However, Beyond Minds takes it a step further by stabilizing machine learning solutions bringing trust, monitoring and feedback to an otherwise “dynamic and noisy” tech space.

The company serves a variety of industries including finance and government. They have worked with notable corporations, such as Samsung, KPMG, Microsoft and leading defense companies and financial institutions. Their product line includes fraud detection, defect detection, predictive maintenance, risk assessment, underwriting, and claim automation.

Beyond Minds has recently announced the completion of a $15 million funding round. The majority of the funds will be devoted to sales and R&D.

Afresh

The Afresh company brings convenient technology to the agricultural space by introducing a fresh food optimization platform for grocers. It is aimed to improve freshness, sales, and profitability. Based on the latest research, the product has yielded a 25% decrease in food waste and a 2-4% revenue growth overall, with a 40% or more increase in the produce operating margin.

Additionally, employees who use Afresh find it to be a time saving tool and are now able to devote more hours to helping customers and merchandising fresh produce. The platform has been valuable during the pandemic, as it helped fresh departments adapt during unpredictable times.

The demand for fresh produce has increased over the past year, and Afresh has been boosting their resources to keep up. They have doubled in size from 2019 to 2020 and are expected to double again in 2021. Their expansion efforts are also set to support critical functions across supply chain, store operations, and merchandising for all fresh categories in the coming months.

The $13 million they have raised in funding will support their growth efforts. They also recently added grocery industry veteran James McCann, CEO of Food Retail Ventures, and former CEO of Ahold USA, to their board of directors.

Tech Funding Recap for March 8, 2021

Technology is an industry that just keeps on growing. Tech companies are constantly improving and updating to make people’s lives more convenient. Read on to find out about three companies who recently raised funds to grow their businesses and create products that move the world forward.

Verbit

Verbit is a voice and speech recognition tech company that focuses on the banking, health care, and automotive industries. The Tel Aviv and New York based startup will be contributing to the voice transcription services in speech recognition tech. The company will be offering adaptive speech recognition that can generate detailed transcriptions that are over 99.9% accurate.

Verbit sets itself apart from other companies due to its reliance on advances in machine learning and natural language understanding. It relies on acoustic, linguistic and contextual algorithms that filters out background noise and identifies speakers regardless of accent while recognizing domain specific terms and incorporating current events and updates.

It works by taking audio and video files to a cloud dashboard where a team of more than 22,000 freelancers in over 120 countries edit and review the material according to customer supplied guidelines.

The company recently announced the close of a $60 million series C round that they will be using to boost R & D.

Zapata

Zapata is a company that’s mission is, “Delivering quantum advantage for customers through real business use cases.”

Quantum computing relies on qubits (bits that can be in a state of 0 or 1 as opposed to other bits that can only be in one state or the other) to perform computations that are beyond most computers’ capabilities. Zapata focuses on algorithms and software that sit on top of the hardware.

Its sole product is a hardware agnostic Orquestra quantum computing platform that can be used by businesses to figure out the best applications for quantum computing without requiring a lot of prior technical knowledge.

Zapata recently raised $38 million for its quantum computing enterprise software program. It plans to continue its work on the optimization and simulation of the product and says that it is currently best optimized for machine learning.

Gunzilla

Gunzilla is a gaming company that is working on a new generation of shooters. Its goal is to relate an engaging story without sacrificing game play.

The game currently being developed is based on a story written by Richard K. Morgan (Altered Carbon and The Steel Remains) and long time video game writer Oliver Henriot (Assassin’s Creed, The Division, Far Cry). The game is targeted for Sony PlayStation 5 and the Microsoft Xbox Series X.  

The company recently raised $25 million to make triple A projects. They are hoping to grow their team to more than 200 employees by the end of the year and implement new approaches to make their next game a rousing success.

The steps these companies are taking will serve to make life more exciting, more convenient and more enjoyable overall. The funds they have raised will help them further develop their products and their companies. It will be interesting to see what they come up with in the coming years.

Tech Funding Recap for March

With spring right around the corner, you can bet there are plenty of companies ready to launch and update their tech products, and they are getting the funding they need to do so. Recently, companies like Forter, Aclima, and Pllay are expected to move the world of tech forward in innovative ways. Here is a recap of what you should be looking out for in the coming season.

Forter

The pandemic saw an unprecedented rise in the ecommerce industry, and plenty of incidents of fraud came along with it. Forter is a fraud detection platform meeting the demands in keeping people’s personal information safe.

Forter works with banks, online payment platforms and merchants to detect and prevent fraudulent transactions including identity theft, account takeover, credit card fraud. When a customer arrives on a website, the company tracks their behavior and uses an analytics engine to determine their intent when making a purchase. Then the system decides whether to flag the behavior as potentially fraudulent.

The increase in ecommerce along with the need for fraud detection has caused Forter’s revenue to double in the past year. As a result, they also doubled their employee count and now hire 225 employees across eight offices. They recently raised $125 million in a series E round that values the company at over $1.3 billion.

Aclima

Pollution and the damage it causes our environment has been a major concern for many years. Aclima is doing their part introducing systems that measure pollution on a block by block level and using that data to combat climate change.

Aclima, one of the few tech companies owned by a woman of color, measures pollution on a hyperlocal level in an effort to reduce emissions. They work with Google StreetView putting sensors on StreetView electric cars as they drive around cities to get a block view of pollution levels. This enables them to reach people in a variety of areas implementing a low friction approach.

The company has been successful in determining the extent of air damage the recent wildfires in the Bay Area caused to provide the government with hot spots and sources. When airs cleared in San Diego during the pandemic, they were able to measure pollution which was still concentrated in lower income neighborhoods. Aclima recently raised $40 million to further this technology.

Pllay

The gaming industry seems to get bigger every year. Pllay is at the forefront introducing a skill-based video game wagering platform that enables gamers to wage 1-on-1 duels in their favorite games.

The peer-to-peer wagering platform is designed for mobile phones and allows players to wager on matches played on other platforms. It is not considered gambling because it does not have purely random results and it is now legal in 39 states. The platform targets people who are 18 and over and runs checks on people before they put money in the system.

One challenge the company faced is figuring out how to verify who won in a 1-on-1 duel. They found a solution involving monitoring matches on Twitch with AI. After the money is held in escrow, it is paid out as soon as verification is complete.

Pllay recently raised $3 million in funding which will be used to hire new employees, develop tech, improve the user experience and increase user acquisition.

Tech Funding Recap for Feb. 15, 2021

Technology has changed our world for the better. It has made life more convenient and introduced time and money saving methods that make businesses run more efficiently.

In the past year, there have been several tech companies that have been redoubling their efforts to continue presenting innovative products and ideas. Here are three companies expected to shine in 2021

Shotcall

Shotcall is a company that is introducing a new way of gaming. Their technology allows people to create communities around games like League of Legends, Fortnite, Call of Duty, Warzone, and more.

Company founders felt fan communities should evolve beyond live streaming platforms that simply allow fans to watch their favorite players and communicate through message boards and online media.

Instead, Shotcall introduced a marketplace/platform hybrid where fans can play games with their favorite gamers. It is for gamers who have a fan base and it also works for content creators, streamers, pro gamers, celebrity artists, and athletes looking to connect with their fans through gaming.

Shotcall has recently raised $2.2 million in seed funding to build their platform.

Human API

Human API is a San Mateo, CA based company that is developing an AI pipeline to structure health data into a standardized format. The new tech is an answer to the 21st Century Cures Act that was signed into law in December of 2016.

The legislation requires that patients be provided access to their health information. However, experts estimate that as many as half of the records are mismatched when the data is transferred between systems.

Human API’s platform provides a means of accessing and sharing records between physicians, startups, and insurers and normalizes and structures the data as it comes in. It uses an industry standard coding system to convert unstructured data into a consistent format that is more accurate.

The company recently raised over $20 million which will be used to support product design, clinical research, population health management, chronic disease management, patient monitoring, and risk stratification.

Exer Labs

Exer Labs is a Denver based tech company that recently unveiled its Exer Studio App for Mac. The app uses your laptop’s computer to capture movement, evaluate form and offer coaching advice. Results can be shared with friends and fitness coaches. It also features a Peloton Style leaderboard that encourages you to up your fitness game.

The app relies on your smartphone and computer AI to power its platform. It offers real time audio and visual feedback on any type of human motion. Its overall mission is to help people train and perform better.

The platform can also be used by coaches conducting virtual classes. It gives them a better idea of which of the participants need help with their training.

Exer Labs recently raised $2 million dollars in funding towards releasing the app.

Tech is moving forward in leaps and bounds. These are just a few of the noteworthy companies advancing in the coming year. It is amazing to see what they are doing to make the world move faster and better.

Tech Funding Recap for Feb. 8, 2021

There’s no doubt that technology is ruling the world. It seems like every time we turn around, there’s a product coming out that makes our lives more efficient.

And behind each of these products is a great company with leaders that have innovative ideas that are changing the world.

The online publication Venture Beat salutes the companies that are hitting it out of the park. Here are three businesses worthy of a shout out.

Arable

The agriculture industry is growing in leaps and bounds but climate change is making it difficult to keep up.

According to a 2018 study in Agriculture and Food Security, 95% of smallholder farmers in Central America have experienced the impact of climate change in the form of rising temperature, unpredictable rainfall, and extreme weather events. Meanwhile, United Nations projects that an increase in population will cause a 69% rise in the agricultural industry between 2010 and 2050.

Arable has introduced a tool to help farmers keep up.

The Arable Mark is an irrigation management tool that connects via LTE-M, 2G and 3G and synthesizes climate, plant, and soil data to produce visualizations. The visualizations are delivered via web dashboard and smartphone app and provide information on precipitation, crop water deficit, soil moisture, and temperature patterns.

The company has recently raised $20 million, which will be used to accelerate growth and help farmers keep up with modern demands.

CodeSandbox

CodeSandbox is a company that focuses on simplifying code to make it more accessible. Commonly referred to as low code or no code, the company created a browser based service that bridges collaboration and low code elements.

While CodeSandbox is far from the only company working to simplify coding, their product stands out, because, unlike other companies that have created web-based tools for individual coders in the past, CodeSandbox’s product will be designed for teams.

The CodeSandbox product also allows product designers who don’t have coding skills to make and accept changes. This saves time spent making suggestions to coders, waiting for changes to be made and reviewing them before moving on.

CodeSandbox recently raised $12.7 million towards their endeavors, which will be used to move their project forward.

Onfleet

The pandemic has sent eCommerce through the roof. Onfleet is helping retailers meet the demands by providing a delivery management tool that will simplify processes.

Onfleet has created a dispatch platform that manages the delivery process from beginning to end. The web-based dashboard provides access to the auto-dispatch engine that assigns jobs to drivers based on their availability and proximity taking location, capacity and traffic conditions into account.

The tool also has an integrated chat platform that allows dispatchers and drivers to communicate directly through the dashboard eliminating the need to use other apps. It has real time alerts and ETAs, allowing companies to keep their customers updated.

Onfleet has recently raised $14 million in funding that will help them make their product available for the companies that so desperately need it.

These tech companies are paving the way for our brave new world. We can only wait to find out how the transformations they make will continue to improve our lives.