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.
WOO Sports (Boston)
- Amount: $4.3 million
- Investors: The startup's Form D filing lists 79 investors.
- Details: Founded by a group of action sports athletes, WOO Sports is a consumer tech startup and Techstars Boston alum that has developed a small, durable device that records metrics on for kiteboarding, providing stats on things like jump height and letting kiteboarders share their own sessions. The startup's CEO and co-founder, Leo Koenig, said last year that it was "outpacing Fitbit by a good margin," based on market and revenue milestones, and that it has a product that is "arguably more complex." Based on a report from last year, the company had raised $3.5 million before this most recent round, which was disclosed in a Form D filed on Friday. The filing shows that the startup is looking to raise a total of $5.3 million for this round. Investors include angel investor Joe Caruso, Draft CEO Jeremy Levine and Sonian Chief Product Officer David Blair, according to AngelList.
- Form D
Nubo Software (Boston)
- Amount: $7 million
- Investors: Magma Venture Partners and Motorola Solutions' Venture Capital
- Details: Based in Israel, Nubo Software has raised this Series A round in order to expand marketing, sales and support services. As a leader in the Virtual Mobile Infrastructure market, Nubo allows businesses to deliver corporate and consumer mobile apps as a display from remote servers, in an attempt to ensure that zero data is being stored on employee devices.
- News release
Confirm.io (Boston)
- Amount: $4 million
- Investors: Accomplice, Cava Capital, Rho, Zelkova Ventures, unnamed angel investors
- Details: The identity authentication startup says the funding was actually raised this past July. The money has gone toward the development of a suite of mobile ID verification and multi-factor authentication software products. Confirm launched in private beta this week, and its founders include Walt Doyle, formerly the CEO of Where Inc. (acquired by PayPal). Via the announcement: "Initial use cases for Confirm include account creation and onboarding; P2P identity checks; fraud escalation, banking and legal transactions."
- News release.
Sentenai (Boston)
- Amount: $1.8 million
- Investors: Flybridge Capital Partners, Founder Collective, Project 11 Ventures, Hyperplane Venture Capital
- Details: Sentenai was founded by Rohit Gupta (a former Techstars Boston director) and Brendan Kohler (former senior software engineer at Seldera). The startup aims to automate the work involved with data engineering processes, eliminating the need to develop a full stack data management infrastructure. Sentenai is targeting industries that depend upon using large quantities of data—such as the Internet of Things, logistics and operations. The funding will go toward building out the startup's engineering team and continuing the development of their "data delivery network."
Plexxi (Nashua, N.H.)
- Amount: Not disclosed
- Investor: GV (formerly Google Ventures)
- Details: The company offers networking technology with a focus on enabling software-defined architecture in data centers. In a news release, GV general partner Rich Miner said the Plexxi’s platform “has evolved at a rapid pace” and that its tools allow customers “to maintain large scale networks that are more agile and efficient.” Plexxi had previously raised $83 million in funding, most recently closing a $35 million round in September.
Pellion Technologies (Cambridge)
- Amount: Not disclosed
- Investor: Motorola Solutions
- Details: Pellion is “in the early stages of deployment” for its high-energy-density battery technology. The technology delivers twice the energy of comparable lithium-ion cells. The batteries are being tested for mobile, wireless and robotics applications. CEO David Eaglesham was previously the CTO for First Solar.
- News release.
EiQ Networks (Boston)
- Amount: $9.55 million, Series C
- Investors: Arrowroot Capital, a growth equity firm in Santa Monica, Calif., which led the round. Also participating were EiQ founders Jay Reddy (on left in the photo) and Vijay Basani (on right in the photo)
- Details: EiQ offers software-as-a-service security and intelligence services, with a focus on mid-market organizations. The new funding will go toward customer acquisition, new investments in sales and marketing and expansion of services. EiQ has now raised $30 million in total since its founding in 2001, according to a spokesperson.
- News release.
Photo courtesy of EiQ Networks.
