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.
Parallel Wireless (Nashua, N.H.)
- Amount: $1.8 million
- Investors: The Form D filing lists four investors.
- Details: Parallel Wireless was started by Steve Papa, the founder of Endecca, a Cambridge company that was acquired by Oracle for $1.1 billion in 2011. According to the company's LinkedIn page, "Parallel Wireless is reimagining the wireless infrastructure market, enabling carriers, public safety, and enterprises to deploy and maintain cellular networks as easy and as cost-effective as enterprise Wi-Fi." The company's new Form D filing indicates it's looking to raise a total of $15 million for this round.
- Form D
Arctic Sand Technologies (Cambridge)
- Amount: $19 million Series B round
- Investors: Murata Manufacturing Company led the round, with participation from GE Ventures, Northwater Capital and Arsenal Venture Partners.
- Details: Arctic Sand Technologies is a MIT spinout that works on fabless semiconductors for a power-conversion platform that "has the potential to transform power management in electronic devices," according to a description on GE Ventures' website. The product is used to "enable significantly more runtime, smaller batteries and thinner profile smartphones, tablets and Ultrabooks," according to its press release. The company didn't specify what the funding would be used for.
- Press Release
Overnight (Los Angeles; local investor)
- Amount: $2.5 million
- Investors: Cambridge-based Accomplice and CrossCut Ventures led the round, with participation from Paul Bricault, Elliott Bisnow and other investors.
- Details: Overnight is a new app that lets you book last-minute spaces with local hosts, kind of like Airbnb but when you don't exactly have everything planned out in advance, according to TechCrunch. The app is launching first in Los Angeles and then in Austin, Texas, ahead of SXSW.
- Story
Finomial (Cambridge)
- Amount: $1.6 million
- Investors: Nine investors are listed on the Form D filing.
- Details: Calling itself the "backbone of alternative investments," Finomial provides a software platform that helps automate the hedge fund subscription process between investors, fund managers and administrators. The company's CEO and founder is Meredith Moss, a former executive at Credit Suisse. The Form D indicates the company was looking to raise a total of $3 million for this round.
- Form D
Battery Ventures (Boston)
- Amount: Two funds totaling $950 million
- Details: Battery Ventures announced Tuesday that it had raised $650 million for its new Battery Ventures XI fund, along with $300 million for its Battery Ventures XI Side Fund. The investment firm said like its previous funds, it will "continue to target investments at stages ranging from seed to private equity, deploying capital in increments of a few hundred thousand dollars up to deals worth $100 million for large growth and private-equity opportunities." Its key investment sectors are application software and software-as-a-service, IT infrastructure, which includes cybersecurity, "big data" and cloud computing; consumer Internet and mobile; and industrial technology. In the last three years, the firm said, six of its portfolio companies, including Wayfair, have gone public and 15 others were acquired.
- Press Release
Autonomous Marine Systems (Somerville)
- Amount: $3.5 million
- Investors: $1.6 million of the funding is a seed round raised from Clean Energy Venture Group, Fontinalis Partners, Industrial Investors Group, Signal Ventures, I2BF Global Ventures, the Texas HALO Fund and several angel investors. The remaining amount is grant funding the startup won in 2015.
- Details: Autonomous Marine Systems plans to use the funds to continue working on ocean observation networkings through the development of low-cost, autonomous, wind- and solar-powered catamarans—in other words, sailing drones. More specifically, the funds will let the startup move forward with existing contracts it has in the offshore energy industry and with the U.S. Department of Defense. It will also let it pursue more customers in the public and private sectors, domestically and internationally. "Long duration, unblinking ocean observation will allow us to be better stewards of our critical maritime resources," Eamon Carrig, the startup's CEO and co-founder, said in a statement. "Our goal at AMS is to build a global, flexible, and extensible observation system as quickly and efficiently as possible."
NuoDB (Cambridge)
- Amount: $17 million
- Investors: Existing investors Hummer Winblad Venture Partners, Longworth Venture Partners and Morgenthaler Ventures.
- Details: Cloud database software company NuoDB said in a Monday press release that it would use the new round to "further refine" its "avant-garde" SQL database offering while also boosting hiring efforts in sales and marketing. The company said back in January that it had increased revenue by nearly 85 percent from the previous year after making major improvements to its software, as well as expanding its management team. "As organizations continue to move to more agile and cost-effective technologies such as the cloud and Docker, the demand for a modern database system that can map to evolving application requirements is growing rapidly," Nilanjana Bhowmik, general partner at Longworth Venture Partners, said in a statement.
- Press Release
