By our count, VC funding to Greater Boston startups declined in May, with companies raising $616.25 million, just a third of the $1.84 billion raised in April. This comes amid national concerns about a slowdown in VC funding.
The biotech industry continued to raise significant capital this month, with startups bringing in $305.5 million. Last month the biotech industry also led in funding, raising $719.25 million.
Following behind biotech this month was the software industry with $256 million and health tech companies with $29.25 million.
Local venture capital funds were the standouts this month, raising a total of $575 million. Two new venture capital firms launched in May to support early-stage robotics, artificial intelligence, automation and security companies.
Check out all the deals, including links to our coverage or the company’s announcements.
Biotech
Dianthus Therapeutics emerged from stealth with $100 million co-led by 5AM Ventures, Avidity Partners and Fidelity Management & Research Co. The Boston company's goal is to make drugs for autoimmune disorders less burdensome.
Boston-based Invetx raised $60.5 million in an oversubscribed Series B financing. The company is developing therapeutics for animals and will use the funds to pursue market approvals for treatments targeting chronic and serious diseases in dogs and cats.
Atlas Venture spinout Remix Therapeutics raised another $70 million to bring its RNA-targeting drugs into the clinic. Remix launched in late 2020 with $81 million and the goal of engineering small-molecule drugs that can target RNA.
With $75 million and plans to quadruple the team in the next year, venture firm Flagship Pioneering spun out a protein-focused company it's calling ProFound Therapeutics.
Software
Kintent raised an $18 million Series A round led by OpenView. The Boston-based company created a platform for customers to adopt formal security and compliance programs.
Marlborough-based Wyebot, an AI-driven WiFi automation company, closed an $8 million Series A round led by Stage 1 Ventures.
SimpliSafe Inc. plans to hire 100 new people in Boston this year, particularly software engineers, after the home security platform announced $200 million in debt funding.
VR ice hockey training startup Sense Arena, which has its North American office in Woburn, closed a $3 million investment round led by Prague-based J&T Ventures.
Tidelift raised a $27 million Series C led by Dorilton Ventures. The Boston startup provides security tools to organizations building applications with open-source software.
Consumer technology
Boston-based Seaspire Inc. raised a $3 million seed round to develop and commercialize its skin care products. The round was led by MIT's The Engine.
Robotics
Boston-based Southie Autonomy raised $2.5 million in seed funding led by BootstrapLabs. The company is pursuing a robot-as-a-service business model.
RGo Robotics is the latest entrant into Greater Boston’s booming robotics community, launching with $20 million in funding. The company is building AI-powered technology that allows mobile robots to have 3D, human-level perception.
Health tech
Legacy, a digital fertility clinic for people with sperm, raised a $25 million Series B funding round led by Bain Capital Ventures. This round brings the company’s total funding to $45 million.
Boston-based KAID Health raised a $4.25 million Series A round led by Activate Venture Partners and Martinson Ventures. The company operates an AI-enabled clinical analysis and provider engagement platform.
Funds
A new venture capital firm focused on early-stage robotics, artificial intelligence and automation launched with $25 million in committed capital. Cybernetix Ventures' general partners include Fady Saad, co-founder of robotics hub MassRobotics, and Mark Martin, a member of the hub's advisory board.
Twenty-year-old Flybridge Capital Partners announced new funds which will support seed-stage tech startups and portfolio companies. The firm raised two funds worth a combined $150 million, bringing Flybridge's total assets under management to over $1 billion.
The Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator, which is run out of Boston University, announced another $370 million in new funding.
CyberArk Ventures, the venture arm of Israel-born, Newton-based identity security firm CyberArk Software Ltd., launched with $30 million from the firm's balance sheet and three investments already under its belt.
