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VC funding update: Boston startups raised more than $1.2B in April


Venture Capital
The company that reached the largest amount of funding in April was Adagio Therapeutics, a biotechnology company that develops antibodies to broadly neutralize coronavirus.
Getty Images (Professor25)

A cannabis delivery company. An online notary service provider. An electronic vehicle battery manufacturer.

Those were some of the Boston startups that gained traction in April.

The company that reached the largest amount of funding in April was Adagio Therapeutics, a biotechnology company that develops antibodies to broadly neutralize coronavirus.


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Below are the startups and related firms that raised capital in March, according to data compiled by BostInno.

Boston-based Kintent, which created the "Trust Cloud" compliance platform, announced a seed round of $4M. Tola Capital led the around, which also included Jason Zander of Microsoft Azure, Chris Hecht of Atlassian, former SAP Hybris President Carsten Thoma, Rapid7's Jen Andre, Cooley and former Veracode CEO Bob Brennan.

Boston-based online notary service provider Notarize brought home $130M in a Series D round.

LineVision Inc. a provider of non-contact overhead power line sensor solutions to monitor, optimize, and protect critical energy delivery infrastructure announced the closing of its Series B financing round, raising $12.5M to accelerate the company's growth. The round is led by UP Partners, a Los Angeles-based electrification and mobility fund.

Alyce has raised $30M in Series B to personalize corporate gifting, scale more authentic, less wasteful swag and direct mail. Alyce is a personal experience (PX) platform that takes a recipient-first approach to corporate gifting, swag and direct mail.

MarTech startup Ziflow raised $6M in expansion funding led by Companyon Ventures.  The funds will be used to accelerate the expansion of Ziflow’s product development and customer facing initiatives to meet the growing demand for enterprise-ready creative collaboration tools that complement today’s remote working environments.  

Boston startup Guardian Agriculture launches with $10.5M in financing to modernize crop protection with eVTOL. Guardian Agriculture helps farmers grow sustainably, and profitably.

Vesper announced an $8M financing led by Applied Ventures LLC. This round of funding brings Vesper's total funding to date to $65M as they continue to produce smartphone microphones and other technology. 

Cohere Health, a Boston-based digital health company, has raised $36M in a Series B round. Polaris Partners led the round, with participation from new investors Longitude Capital and Deerfield Management. Existing investors include Flare Capital Partners and Define Ventures.

Cambridge-based Link Ventures announced it is leading the $5 million seed round investment into Creatively, a job platform that provides creatives across disciplines and industries with free, immersive tools to showcase their portfolios, network and find jobs.

HqO announced it raised $60M in Series C funding from leading venture capital and commercial real estate firms. This round of funding brings HqO to $106.9M to as they create property teams to manage customer-facing technology tools.

TetraScience announced an $80M investment in Series C funding from Insight Partners and Alkeon Capital. The funding will aid TetraScience in developing programming for data and life sciences. 

Zip Run, which is seeking to become one of the first licensed cannabis delivery companies in Boston, said it secured $2.3M in seed funding from Mollitiam Capital. The company plans to use the funding to help with product development.

Adagio Therapeutics, a biotechnology company that develops antibodies to broadly neutralize coronavirus announced it secured $336 million in Series C financing led by RA Capital Management. The funding will lead clinical studies that will operate as a single agent for both the treatment and prevention of Covid-19. 

SES, a manufacturer of Li-Metal, batteries that are used to operate electronic vehicles, announced that it has completed a Series D funding round of  $139M. This funding is led by General Motors and will assist in further developing technology. 

Cloud security provider iboss announced it secured $145 million in Q1. The funding will aid iboss in growing 50 positions in the company in marketing and engineering positions. 

Filebase, a technology storage company announced, a $2 million seed round. The funding was led by Multicoin Capital and is in place to bring AI and machine learning technologies into Filebase. 

Knox Financial, an investment property company, announced it secured $10 million in Series A funding. The funding will go into expanding the tech-enabled platform. 

Empyrean Solutions, an asset and liability company for banks and credit unions, announced it raised $74 million in minority growth financing led by Spectrum Equity. The funding will go into product innovation. 

Current Health, a remote care management platform, announced it raised $43 million in Series B funding. The funding will support the company’s global expansion and mission to provide healthcare outside of the hospital. 

Glytec, an insulin management software company, announced it raised $21 million in funding to relive debt and increase company headcount by 30% in 2021.

LiquiGlide, a technology company that works to eliminate the friction between solids and liquids, announced a $13.5 million funding round. The round was announced alongside news of the company partnering with Colgate and the Mibelle Group, a cosmetics, and pharmaceutical products manufacturer. 

Outcomes4Me, an Artificial Intelligence (AI)-powered platform, announced it has raised $12 million in its Series A round. The funding will go to extending Outcomes4Me's breast cancer based platform to other cancers and expand to more patients.

Wunderite, a provider of a customer-facing platform for independent insurance agencies, announced a $3 million seed funding round led by Spark Capital. 

Wasabi, a cloud storage company, announced it raised $112M in Series C funding led by Fidelity Management & Research Company. The funding will go to expand the company’s network of resellers, technology alliance partners, and distributors.



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