Boston startups raised a lot more funding from investors in February than the previous month, thanks in part to major rounds from XebiaLabs ($100 million), Ionic Materials ($65 million) and Altiostar Networks ($32 million).
Other Boston startups that raised money include Flipside Crypto, Humatics and Jobcase, along with competing AI hardware startups Lightelligence and Lightmatter.
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Here are the 31 Boston startups that raised money this month:
• Algorand, a new blockchain startup founded by Turing Award-winning IT cryptographer Silvio Micali, raised a $4 million seed round from local VC firm Pillar and Union Square Ventures, the New York-based firm that has backed a number of big-name companies, like Twitter and Etsy.
• Altiostar Networks, which provides mobile network operators with the equipment to deploy and expand their LTE networks, raised a nearly $32 million round, according to a new Form D. Multiple publications, including the Dalal Street Investment Journal, are reporting that Indian IT firm Tech Mahindra has acquired a 17.5 percent stake in Altiostar for $15 million.
• Baseload Renewables, an energy storage startup that is one of the first portfolio companies of MIT’s The Engine venture fund, raised a $7.4 million round, according to a new Form D. The filing lists the company’s new name as Form Energy.
• Blueday raised $6 million in funding from Radian Capital and other investors. The company provides store revenue management systems for retail.
• Cambridge Electronics raised a little over $2.6 million in an equity offering, according to a new Form D.
• Corvus, a Boston-based insurance and technology company, announced a $4 million seed round investment led by Bain Capital Ventures to propel InsurTech innovation into the commercial insurance market.
• CyberX, a cybersecurity startup with offices in Boston and Israel, raised an $18 million round led by Norwest Venture Partners, with participation from Glilot Capital Partners, Flint Capital, ff Venture Capital and OurCrowd, Reuters reported.
• CyGlass, a cybersecurity startup focused on “network-centric dark threat detection,” raised a $900,000 round, according to a Form D. The startup was previously known as mZeal Communications.
• Diesel Labs, a mobile video analytics startup, raised a nearly $1 million round, according to a new Form D.
• Dover Microsystems secured $6 million in seed funding. The round was led by Hyperplane Venture Capital, with the participation of Qualcomm Ventures, the Hub Angels Investment Group and Draper in Cambridge, where the company has been incubating for around two years. The round will enable the company to expand its engineering and product development efforts, as well as support new hires across the marketing and sales departments.
• Feature Labs, a data science startup born out of the computer science and artificial intelligence lab at MIT, raised a $1.5 million seed round. The round was led by Boston’s Flybridge Capital Partners, which also backed big data company DataXu in its early days. Local VC firm First Star Ventures and San Francisco-based 122 West Ventures also participated in the round. In a nutshell, raw data needs to be prepared before feeding it to machine learning algorithms, a process – called “feature engineering” – that Feature Labs said it can automate and make more efficient.
• Flipside Crypto, a startup founded by serial entrepreneur Dave Balter, raised $3.5 million in an equity offering, according to a new Form D. As I wrote in December, the startup is a cryptocurrency investment service that aims to provide wealthy individuals an easy way to buy digital tokens without the need for technical expertise. Balter’s previous startup, Mylestone, shut down in December.
• GreenSight Agronomics, a Boston agtech company that develops technology for automated drones to analyze turf grass, has received a minority equity investment from Minnesota-based Toro Co., BBJ reported. Terms of the investment were not disclosed.
• HealthWiz, a digital health startup born out of Harvard Business School, raised $90,000 out of an offering for up to $1 million, according to a new Form D.
• Humatics — a Cambridge startup developing “microlocation” technology for the close collaboration of humans and robots, among other applications — indicated in a Form D filing that it has raised a fresh $7.2 million. The company’s investors from previous rounds include Ray Stata, Airbus Ventures, Lockheed Martin Ventures and Fontinalis Partners.
• Ionic Materials raised a $65 million Series C round with the Renault-Nissan-Mitsubishi alliance as a major investor, BBJ reported. The company will use the money to commercialize a polymer that could make batteries safer and cheaper.
• Jobcase, a local startup that has been pitched as the LinkedIn for blue-collar workers, announced it has raised an additional $11.5 million for its Series A round, bringing the total funding of the round to $18.5 million. This round was led by Providence Equity Partners.
• Lightelligence, an MIT spinoff that is developing AI hardware, raised a $10 million seed financing round led by Baidu Ventures, which is the venture capital arm of Chinese tech giant Baidu, and a group of U.S. semiconductor executives.
• Lightmatter, an AI hardware startup that won the MIT $100K Entrepreneurship Competition last year, closed an $11 million Series A led by Matrix Partners and Spark Capital.
• Mabl, a new Boston startup founded by Izzy Azeri and Dan Belcher, raised a $10 million Series A from CRV and Amplify Partners to support an expansion of the company’s automated code testing tools. Azeri and Belcher previously founded Stackdriver, which they sold to Google in 2014.
• Micronotes, a Cambridge startup that provides artificial intelligence-powered interview technology, raised a $3 million round, according to a new Form D.
• Moltin, an ecommerce software startup, closed an $8 million Series A round led by Boston-based Underscore VC. Existing European investors Connect Ventures, which is headquartered in London, and Frontline Ventures, which has offices in London and Dublin, also participated in the round.
• Paperless Parts, a “manufacturing intelligence company” that launched last year, raised a $2.3 million round, according to a Form D.
• Perception Point raised $8 million in a Series A funding round led by Pitango Venture Capital, along with State of Mind Ventures and Korea Investment Partners. The company has two offices, in Tel-Aviv, Israel, and Newton, Mass.
• RadioPublic, a Boston-based podcast app maker, announced that Bose has become an investor. RadioPublic’s other investors include The New York Times and NPR affiliate WGBH.
• Renoviso, a service that helps homeowners complete renovation projects via technology, raised $7 million in an equity offering, according to a new Form D. Wayfair CEO and co-founder Niraj Shah is among the company’s early investors.
• Resilient Ops, which is working on analytical software for the aeronautical industry, raised over $2.1 million in an equity offering.
• Takeoff Technologies, a Cambridge-based startup that aims to upend the grocery market with robots, raised a $12.5 million financing round from investors, according to a Form D. As I first reported in a big feature story from 2016, Takeoff is making an online ordering and automation system that is expected to significantly reduce the real estate and labor needed to fulfill grocery orders.
• Smart Lunches, which provides an ordering platform for school lunches, raised over $8.1 million in an equity offering, according to a Form D.
• XebiaLabs, a Burlington-based software company that’s been around for almost 10 years, secured a Series B growth investment of over $100 million from Susquehanna Growth Equity and Accel, along with many existing shareholders.
• Zagster raised a $15 million growth equity round to accelerate the rollout of the new dockless bike-share program the company introduced last fall. The round, which was led by Edison Capital Partners, brings the company’s total funding to $32.2 million.
