Get details below on recent funding deals. Last week, four Austin companies reported a combined $24.2 million in fundings and awards.
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Back in May 2021, we noted a $2.1 million funding round for Austin Software Inc., a stealthy startup co-founded in 2018 by Jacqueline Samira and Frank Licea that helps companies build distributed engineering and product teams in Latin America.
The company announced Aug. 29 it closed a $13 million funding round and has changed its name to Astro. The new round was led by New York-based Greycroft, and it included backing from San Francisco-based Obvious Ventures and others.
The startup says the new funding will fuel growth in the U.S. where its clients include bootstrapped startups, as well as mature companies, such as Coinbase.
Astro helps U.S.-based tech companies find and manage international developers, including onboarding, payroll and benefits. Its clients have included Austin's Workrise, WP Engine and OJO Labs. The startup went through Y Combinator's accelerator last year. Its other investors include Softbank and Austin-based Capital Factory.
You don't have to spend much time on your phone to know that influencer marketing has grown into a massive market. And an Austin company that specializes in helping brands tap customers as brand ambassadors and content creators is capturing the attention of investors with its product. LoudCrowd Inc., led by co-founder and CEO Gary Garofalo and co-founder Justin Papermaster, said it has raised a $5 million series A to expand its engineering team and advance its products. The raise was led by Santa Monica, California-based Mucker Capital. Others in on the round included Austin's LiveOak Venture Partners and San Antonio-based Active Capital. As part of the deal, Mucker Capital Partner Omar Hamouii will join the board at LoudCrowd, board.
The company, founded in 2019, has a platform that automates relationships between brand ambassadors and advocates. It previously raised a $3.7 million seed round.
Tokenproof, an Austin-based startup making technology for non-fungible tokens, raised a $5 million seed round led by Penny Jar Capital, a San Francisco Bay Area firm backed by NBA star Stephen Curry. Other firms in on the round included Corazon Capital, 6th Man Ventures and Canonical Crypto.
And Curry isn't the only big name on the cap table. The startup secured investment from Mark Cuban, as well as The Sandbox co-founder Sebastien Borget, Time President Keith Grossman and Proof of Attendance Protocol founder Patricio Worthalter.
Tokenproof, founded earlier this year by CEO Fonz Olvera, has developed a secure way for NFT owners to prove ownership and credentials without opening their digital wallet, which can create privacy and theft risks. After a one-time wallet verification, tokenproof users get ownership credentials that aren't connected to their wallets, making it easier to use NFTs to access events or other assets that require tokens. The company operates legally as MagnaCerta Inc.
We've written about Yotta Energy Inc. several times because they're an exciting early-stage company that's also helping reduce emissions that contribute to climate change. Last week, the company took another big step, landing a $1.2 million award from the California Energy Commission.
While the company has largely been known for solar storage on rooftops of large businesses, in this case the startup is focused on energy inequality in low-income areas. Specifically, Yotta will build a solar energy backup system for a multifamily property in Santa Ana, which is just south of Los Angeles. The company will also look into what impact the project may have on the grid in partnership with the nonprofit Electric Power Research Institute. This project follows a $1.9 million award in April from the Department of Defense's environmental program for solar power storage at Nellis Air Force Base in Las Vegas.
"This is a significant step for the city of Santa Ana as the state looks to adopt and implement greener technologies into its buildings," Yotta Energy CEO Omeed Badkoobeh stated. "Not only will this project lead to a cleaner, healthier local environment, but it will also open the door for economic prosperity and growth in Santa Ana. As we expect to continue growing and implementing our solution in communities nationwide, we look forward to ensuring that everyone has access to a reliable energy supply.”
Get ABJ's latest list of local venture capital firms here, and see the list of angel investors here. A list of local startup incubators can be found here.
