Boston-area startups, tech companies and related firms brought in a $3.2B in new funding last month.
As usual, biotech accounted for most of that: $1.2B, to be precise. A handful of startups emerged from stealth with their new funding. Flagship Pioneering unveiled Generate Biomedicines, a startup that will use machine learning algorithms to create new drugs. Serial biopharma entrepreneur Mark Tepper debuted his latest venture, Eumentis Therapeutics, which is developing what it hopes will be a more effective cousin to the existing Alzheimer’s drug memantine.
Two VC funds also filled up their coffers in September. Palo Alto, Calif.- and Cambridge-based early-stage VC firm Xfund closed its third fund at an oversubscribed $120M, and Silversmith Capital Partners, a Boston growth equity fund that earlier this year moved to a new office in Back Bay, closed on an $880M fund that will keep fueling health care and technology companies.
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Below are the startups and related firms that raised capital in September, according to data compiled by BostInno.
Biotech
Lowell-based Alycone Lifesciences, a biotech focused on chronic neuropathological conditions, raised $17.6M in equity and debt in a $19.5M funding round, per an SEC filing.
Newton-based Eumentis Therapeutics, a seven-month-old biopharmaceutical company focused on developing novel therapeutics for the treatment of neurological diseases, raised $1.5M in equity in a $3.3M funding round, per an SEC filing.
Manifold Bio, a Boston-based spinout from George Church’s lab at Harvard Medical School focused on increasing the throughput of protein therapeutics testing in vivo, closed a $5.4M seed round. Playground Global led the round and was joined by pre-seed lead Fifty Years and early investors GETTYLAB and Allston Venture Fund.
Lowell biotech Versatope was awarded a Phase 1 Small Business and Innovation Award from the NIH to develop a novel vaccine for the prevention and possible treatment for Clostridioides difficile, also known as C. diff. Read our profile of Versatope here.
Boston-based biotech startup ORIG3N raised $26.2M in equity in a $28.7M funding round, per an SEC filing.
Cambridge biotech Generate Biomedicines emerged from the laboratory of local venture creation firm Flagship Pioneering with $50M to compose new drugs using machine learning algorithms. The idea behind Generate originated four years ago, when a group of researchers set out to analyze a repository of 3D protein structures.
Casma Therapeutics, a Cambridge-based biotech, completed a $50M Series B round. The round was led by The Column Group, with participation from new investors Eventide Asset Management, LLC and Schroder Adveq among others.
Korro Bio, a Cambridge biotech, raised more than $90M in venture capital to advance its technology to repair genetic mutations that cause a variety of diseases.
Waltham-based Entasis Therapeutics, which is focused on multi-drug resistant bacteria, raised $25M in equity, according to an SEC filing.
Totient, a Cambridge-based AI-driven drug discovery company, emerged from stealth with $10M in seed funding. Backers included Mission BioCapital, Sands Capital, Viva Biotech, Kaitai Capital, Tau Ventures, Jonathan Milner and more.
Cambridge-based Solarea Bio, which is developing microbiome-based therapeutics, raised $11.3M in equity in a $14.8M funding round, per an SEC filing.
GreenLight Biosciences, a Medford-based life sciences and agtech startup and one of our Crisis Innovators, received a $3.3M grant from the Bill & Melinda Gates Foundation to develop new mRNA-based gene therapies for sickle cell disease.
AZTherapies, a Boston-based life science company targeting neuroinflammation, raised $14.8M in equity in a $35M funding round, per an SEC filing.
A new research center at MIT with labs led by biotech pioneer Feng Zhang and three others will begin exploring how tools like CRISPR gene-editing could be used to treat brain disorders, thanks to a new $28M gift. MIT announced the creation of the new K. Lisa Yang and Hock E. Tan Center for Molecular Therapeutics in Neuroscience, with money donated by alumnus and longtime Broadcom Inc. CEO Hock Tan and his former wife, philanthropist Lisa Yang.
Cambridge-based Aviceda Therapeutics, a biotech company focused on the next generation of glyco-immune therapeutics, raised $4.3M in convertible notes, according to an SEC filing.
Mark Smith’s startup Finch Therapeutics is preparing to bring microbiome therapies to the masses. It closed a $90M Series D round, which it will use to prepare its manufacturing systems in the hopes of an FDA approval of its first commercial product.
Palleon Pharmaceuticals, a Waltham-based company using glycan-mediated immune regulation to treat cancer and inflammatory diseases, completed a $100M Series B round. The round was led by Matrix Capital Management, with participation from SR One, Pfizer Ventures, Vertex Ventures HC, Takeda Ventures and AbbVie Ventures, as well as new investor Surveyor Capital.
Two-year-old startup Monte Rosa Therapeutics raised $96M in Series B funding from its founding investor, Versant Ventures, plus New Enterprise Associates, GV, Casdan Capital and others. The Boston-based biotech now has $128.5M in the bank.
Cambridge-based Cedilla Therapeutics, a startup focused on diseases caused by protein dysregulation, raised $30.4M in equity in a $60M funding round, per an SEC filing.
Boston- and Denmark-based biotech Galecto, which is developing treatments for fibrosis and cancer, closed a $64M equity financing round. The round was co-led by Soleus Capital and Eir Ventures, with Cormorant Asset Management, Janus Henderson Investors, Hadean Ventures, Sphera, Asymmetry Capital Management, Canica and others participating.
Boston-based Eumentis Therapeutics closed a $3.9M seed financing round as it emerged from stealth.
Boston-based Dewpoint Therapeutics, a biomolecular condensates company, raised $77M in a Series B round led by ARCH Venture Partners, with participation from new investors Maverick Ventures and Bellco Capital and existing investors Leaps by Bayer, EcoR1 Capital, Polaris Partners, Samsara BioCapital and Innovation Endeavors.
Waltham biopharma company Viridian Therapeutics raised $27M in equity, per an SEC filing.
Cambridge-based AI drug molecule designer XtalPi secured a Series C funding round totaling $318.8M, co-led by SoftBank’s Vision Fund 2, PICC Capital and Morningside Venture Capital, alongside follow-on investments from the company’s previous backers Tencent, Sequoia China, China Life and SIG.
Cambridge-based Ingenia Therapeutics raised $4.7M in equity in a $5.7M funding round, per an SEC filing.
Arlington biotech Tetragenetics, which focuses on autoimmune disease and pain targets leveraging recombinant ion channel expression, raised $1M in debt in a $2M funding round, per an SEC filing.
Blockchain
Boston-based PureStake, the startup developing the blockchain-driven “Moonbeam” smart contract platform, closed a $1.4M seed round led by Hypersphere Ventures, with participation from Arrington XRP Capital, HashKey, KR1, Bitcoin.com Exchange and Du Capital.
Cleantech and Greentech
Form Energy, the Greentown Labs-based energy startup that makes low-cost, long-duration batteries, raised $52M in equity, according to an SEC filing.
Boston-based Enel X, the Enel Group's advanced energy services business line, was awarded two grants by the Accelerating Clean Transportation Now (ACTNow) program through MassCEC. The grants will support the development of public transportation electrification in Massachusetts.
Cybersecurity
Cybersecurity startup Snyk raised a $200M Series D round led by Addition, bringing the company’s total valuation to $2.6B.
LogPoint, a European cybersecurity vendor that opened a Boston office in 2018, raised a $30M Series B round led by Digital+ Partners. It’s planning to use the funding to expand in the U.S., starting with a vice president to run U.S. operations, who will be based in Boston.
Drones
AirWorks Solutions, a developer of autonomous processing software for aerial mapping and surveying, raised close to $2.7M in the second tranche of its seed round, per a statement emailed to BostInno. The round was led by MetaProp, with Innospark Ventures, Creative Ventures, Met Fund and angel investors participating.
Edtech
The Eruditus group closed its Series D funding round at $113M led by Leeds Illuminate and Prosus Ventures with participation from Chan Zuckerberg Initiative and existing investors Sequoia India and Ved Capital. Eruditus is the parent company of online education startup Emeritus, which has its main U.S. office and the bulk of its U.S. employees in Boston.
Fintech
Capchase, a Cambridge-based online platform for SaaS companies to get cash from accounts receivable, raised $4.6M in seed funding. Backers included Caffeinated Capital, Bling Capital and SciFi VC, along with BoxGroup, ONEVC, Amara Venture Partners and Lorimer Ventures, plus a number of angels.
Boston-based MentorWorks, a provider of financing to college students, secured $1.25M in funding.
Volly, a Boston-based provider of SaaS-based fintech and creative marketing services to the financial services industry, closed an $11M Series B round led by Camden Partners with participation from New Capital Partners.
MineralTree raised $50M in a Series D round from Great Hill Partners, .406 Ventures and Eight Roads Ventures.
Funds
Palo Alto, Calif.- and Cambridge-based early-stage VC firm Xfund closed its third fund at an oversubscribed $120M. It said it would invest in liberal arts founders, as it has done through partnerships with universities over the last decade.
Silversmith Capital Partners, a Boston growth equity fund that earlier this year moved to a new office in Back Bay, closed on an $880M fund that will keep fueling health care and technology companies.
Health Tech and Services
Boston digital health firm Biofourmis closed a $100M Series C round led by Softbank. MassMutual Ventures, Sequoia Capital, EDBI and Openspace Ventures also participated.
Cambridge-based health care services startup Nido Biosciences raised $18.4M in equity in a $46M funding round, per an SEC filing.
Boston-based CATALOG, a DNA-based platform for digital data storage and computation, brought in $10M in Series A funding led by Horizons Ventures with participation by Airbus Ventures.
Woburn-based Perfect Health, a home health care startup, raised $25M in equity in a $45M funding round, per an SEC filing.
MIT CSAIL professor Regina Barzilay has won the Association for the Advancement of Artificial Intelligence’s new Squirrel AI Award for Artificial Intelligence for the Benefit of Humanity, a $1M award given to honor individuals whose work has had a transformative impact on society. Barzilay is being recognized for her work developing machine learning models to develop antibiotics and other drugs, and to detect and diagnose breast cancer at early stages.
A "food is medicine" research partnership between Boston-based Community Servings, Massachusetts General Hospital and the University of North Carolina School of Medicine received a $2.9M grant from the NIH to expand the study of medically tailored meal delivery as an effective health care intervention.
Medical Devices
West Bridgewater-based medical device company G.I. Windows raised $16.4M in equity in a $16.7M funding round, per an SEC filing.
Cambridge-based LightForce Orthodontics, which makes a customizable 3D-printed bracket system, raised a $14M Series B round led by Tyche Partners with follow-on investment from Matrix Partners and AM Ventures.
Bedford-based medical device company Rejoni closed a $15M Series A financing. The round was led by Ascension Ventures, with additional participation from Delos Capital and Sparta Group.
Quantum Computing
Cambridge-based quantum computing startup Zapata Computing raised $28.9M in equity in a $40.2M funding round, according to an SEC filing.
Software
Boston-based TVision Insights, which measures TV viewability and attention, raised $13.6M in equity in a $19.9M funding round, per an SEC filing.
Boston-based Nebulous, a startup behind a decentralized Sia cloud storage network, raised $6.2M in equity, according to an SEC filing.
Staffing software firm Bullhorn received a majority strategic investment of an undisclosed amount from Stone Point Capital.
Cambridge-based Solo.io, which connects applications with APIs and service mesh across infrastructures, raised $23M in equity, per an SEC filing.
Squadle, a Cambridge-based tech company that optimizes for food safety, closed its Series A round. The startup did not disclose the amount.
Tally Street, a Boston-based provider of a customer insights platform, raised $750K in seed funding. The round was led by Launchpad Venture Group.
Waltham-based microlocation technology startup Humatics raised $30M in Series B funding led by Blackhorn Ventures, with Tenfore Holdings, Fontinalis Partners, Airbus Ventures, Lockheed Martin Ventures and Presidio Ventures participating.
Marketplace SaaS platform Mirakl, a French company whose North American HQ is in Boston, raised $300M led by Permira, with participation from long-term investors 83North, Bain Capital Ventures, Elaia Partners and Felix Capital.
Newton-based Gutsy raised $1.1M in debt in a $1.5M funding round, per an SEC filing.
