Paradigm4 founders Marilyn Matz and Michael Stonebraker.
Get a daily dose of Boston startup funding news in The Beat. Sign up here. New Money is BostInno's report on all the tech funding deals this week. Check back for updates with more new money.
LearnLux (Boston)
- Amount: Not disclosed
- Investors: Dorm Room Fund
- Details: The company, which took part in MassChallenge this year, is focused helping millennials learn how to make personal finance decisions. LearnLux is providing a website with details on financial concepts for helping to make educated decisions about how money management; all of the key information is broken up into more digestible, less jargony tidbits for better comprehension.
- Article on the news
Groupize Solutions (Beverly)
- Amount: $547,760 in debt
- Investors: 12 undisclosed investors.
- Details: Groupize provides an online group booking platform for hotels and event planners. The startup's Form D filed on Thursday shows that it's looking to raise an additional $452,240 in debt, which would bring the total fundraise to $1 million. The startup has previously raised money from Golden Seeds and Launchpad Venture Group.
- Form D
Top Flight Technologies (Malden)
- Amount: $1.75 million seed round
- Investors: The round was led by John Frankel of ff Venture Capital, with participation from John Shaw of One Asia Fund, Tak Miyata of Scrum Ventures, Joi Ito of Neoteny Labs and MIT Media Lab and several angel investors.
- Details: Top Flight Technologies is making a drone calling the Airborg H6 1500 that uses a hybrid gasoline-electric engine to stay in the air longer. The startup said the funding will be used to continue development of the drone and start a customer beta program. The startup is led by Dr. Long Phan, who served as an initial member of the MIT/Draper Aerial Robotics team and also participated in the world's first autonomous helicopter takeoff at Disney World's Epcot Center. "Top Flight is addressing a very important market: long duration, high payload vehicles," Frankel said in a statement. "This is relatively nascent in the commercial space, but one with huge potential as organizations understand how these technologies can bring dramatic efficiencies to their operations."
- Press release
Codeship (Boston)
- Amount: $1.5 million
- Investors: Existing investors Sigma Prime Ventures, Boston Seed Capital and F-Prime Capital. There were also some new investors participating, but their names weren't disclosed.
- Details: Codeship, a Techstars Boston 2013 grad, offers a Web-based continuous delivery service for testing and deploying code. Among its customers is San Francisco-based Product Hunt. The startup said it will use the new investment, which brings total funding to $4.4 million, to "expand Codeship's presence among larger corporations, improve existing products" and add new sales team members. The startup said it has seen significant growth over the last four years, and that it has supported more than 8 million builds.
- Press release
Bevi (Boston)
- Amount: $6.5 million, Series A
- Investors: Horizons Ventures (the private fund of Hong Kong billionaire Li Ka-shing)
- Details: Bevi is a high-tech watercooler for the office that dispenses custom-flavored sparkling and still water. The company was founded in 2013 by Sean Grundy, Frank Lee and Eliza Becton, graduates of MIT and RISD. It was a Techstars Boston company in 2014.
- Press release
Paradigm4 (Waltham)
- Amount: Not disclosed, extension to Series A round
- Investors: Golden Seeds, Sigma Partners, Kepha Partners
- Details: Paradigm4’s CEO is Marilyn Matz, who co-founded the company with Michael Stonebraker, the MIT professor and serial entrepreneur. Paradigm4 offers SciDB, a database management system designed for performing advanced analytics. Life sciences and financial markets have been the main industries using SciDB so far; customers include Novartis, Foundation Medicine and the National Institutes of Health. Stonebraker’s other companies have included Vertica and VoltDB, while Matz previously co-founded Cognex Corp. Golden Seeds, which focuses on investing in women-led companies, joined Sigma and Kepha, which took part in the initial funding for the Series A. That initial amount is not being disclosed either, a spokesperson said.
- Press release
