Tech Funding Recap for Jan. 18, 2021

Technology is growing in leaps and bounds. Tech companies are constantly raising funds to increase their resources for developing new products and services to provide added conveniences in the B2B and B2C world.

Recently, the online publication VentureBeat has noted companies like Passive Logic, Qatalog, and Augury for their fundraising efforts and the new offerings they are unleashing. Here is a review of what’s to come.

Passive Logic

Passive Logic is a startup that specializes in building controls platforms that focus on human comfort. They recently raised $16 million which will be dedicated to increasing their workforce and accelerating research and development.

Hardware engineering specialists Troy Harvey and Jeremy Fillingim founded Passive Logic in 2016 in an effort to simplify commercial building systems by providing autonomous controls to the building construction market. Their Autonomy Studio’s platform allows customers to develop systems for building and projects with streamlined automation including self adjusting controls. The innovation is in the fact that the system is based on the law of physics rather than the set points and controls manual building systems have relied on in the past.

The newer systems have the ability to control sequences in real time based on the building changing dynamics. The engine employed analyzes the implications of its actions before putting them into effect and selects the best controls under the current conditions.

Qatalog

Qatalog is a London-based start up with the goal of streamlining the way companies do business by eliminating the close to 200 apps they use each day by providing unified tools and products. This will make it easier for workers to find the data they need and cut down on the wasted time and frustration that comes from finding and switching between multiple apps.

The startup has announced raising $15million from an A round series led by Atomico as well as a $3.5 million seed round led by Mosaic Ventures, which completed last October.

The company was founded in 2019 by Tariq Rauf, a former global leader at Amazon. The aim of the startup is to connect the dots between major company directories, documents, communications, and workflows.

At launch, they had already integrated with major players like Slack, Google Workspace, Zoom, Trello, Dropbox and more, and they are adding more integrations each week. This allows users to easily find any person, team or project in their company while displaying the connections between contacts as far as what they’ve been working on to present day.  

Augury

Self described “machine health” AI solutions provider Augury has recently announced the closing of a funding round for $55 million. The money will be used to increase hires, research and development, and customer acquisition.

The startup refers to itself as the “Shazam for machines.” Its sensors record readings from motors, compressors and pumps, and process factors like vibration, temperature, and magnetism metrics. The data is then uploaded to the cloud where it is analyzed by AI algorithms to provide predictions regarding the machine’s health.

Augury already has an impressive list of clients, but it is working on expanding and building a network of delivery partners to increase installations of its equipment. It also has plans to provide new language support for its product suite and key alerts for customers. It will boost its range of country specific certification to allow for a greater worldwide reach.

Congratulations to these companies on reaching their fundraising goals. We look forward to seeing how they increase convenience in today’s growing world of technology.