Get details below on recent funding deals. Last week, four Austin companies announced fundings or filed reports with the U.S. Securities Commission representing $30.2 million in deals.
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Kwil Inc., an Austin startup developing a decentralized database software, reported raising $9.6 million in equity funding. The company, founded this year, is led by Luis Gruson, Brennan Lamey and Luke Lamey. The SEC filing doesn't note who the investors were, but the company's website shows its backers include FTX Ventures, Blockchange, DCG, Amplify Partners and several others.
Paradromics Inc., an Austin medical-technology startup developing brain-computer interfaces, reported Sept. 21 raising $8.8 million in new equity and debt funding. The SEC filing follows a $3.2 million research award from the National Institute of Mental Health last October. Paradromics, led by CEO Matt Angle, is ultimately focused on helping paralyzed patients who can no longer speak. It previously raised a $20 million round led by Prime Movers Lab, and it has secured other federal funding.
Austin oil and gas technology startup Infinity Water Solutions LLC said Sept. 22 it has raised an $8 million series A. The round was led by Mako Strategies, and it follows a $4 million seed round and $10 million credit facility secured last spring, bringing its total funding to $22 million. The company, founded in 2019 and led by CEO Michael Dyson, uses green infrastructure and clean technology to manage the water and wastewater needs of Permian Basin drillers in both Texas and New Mexico.
"Water stewardship is top of mind for operators, legislators and the community. They are all looking for alternatives to an already stressed and scarce resource," Dyson stated. "What we’re doing today is infinitely better than the status quo. Our hope is that as we evolve, with more funding and research, so, too, will our environmental impact across multiple sectors."
StoryFit, a local startup using artificial intelligence to analyze books and movie scripts to assist in identifying core audiences, earlier this month reported raising about $3.8 million in equity funding. The company is led by founder and CEO Monica Landers, a former ABC News producer who went on to work in communications and media innovation at Schlotzsky's and Demand Media before founding StoryFit. This follows a $1 million round as well as a $1.8 million round, both in 2019.
It wasn't immediately clear who invested in this most recent round, but the startup's past investors have included Capital Factory, Techstars, Alumni Ventures Group and Ascend Venture Capital. StoryFit was also among Austin Inno's 2019 Startups to Watch.
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.
