Check out the details below on three recent venture capital deals totaling more than $35 million that impact the Austin area.
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Strangeworks Inc., an Austin-based company that helps other businesses incorporate quantum computing, said March 22 it raised $24 million. The series A funding round was led by Hitachi Ventures, with investment from IBM Corp. and Raytheon Technologies Corp. — big players that rarely invest in early-stage rounds. The company’s prior backers — including Lightspeed Venture Partners, Great Point Ventures and Ecliptic Capital — also backed the company. It was the first new funding for Strangeworks since a $4 million seed round in 2018 shortly after its launch. The company was founded by William Hurley, aka Whurley, and now has 21 employees.
StructShare Technologies Inc. — an Israel-based construction tech company that headquarters its marketing, sales and customer success teams in Austin — said March 22 that it has raised $8 million in funding. That brings its total pre-seed and seed funding to $10 million. The new funding round was led by KOMPAS, an early-stage VC firm with offices Amsterdam, Berlin, Copenhagen and Tel Aviv. Also investing were SeedIL, CEMEX Ventures and the company’s earlier investors. StructShare has a construction procurement and inventory platform that automates all procurement processes in the field, office and warehouse.
This deal didn't happen last week but it was the first we heard of it. Nonalcoholic wine startup Surely in late 2022 raised $3.1 million, a round led by Redbud Brands, Selva Ventures and Pure Ventures. The company, which operates legally as Forward Food Inc., was founded by Ryan Hanson in 2020. The bottled and canned wine is distributed through Sprouts Farmers Market, Central Market and Amazon.
For more local deals, check out another recent funding wrap. And subscribe to Austin Business Journal for startup resources such as lists of venture capital and private equity firms, incubators and accelerators, angel investors and coworking providers.
