December closed out the year with a strong set of funding rounds and acquisitions for D.C.-area companies. There were impressive showings from organizations focused on clean energy, biotech, cybersecurity and education, among other things.
Here's our monthly roundup with what you need to know about D.C. funding in December. And you can stay on top of local tech and startup news by subscribing to our newsletter, the Beat.
Fundings
Arcadia, the D.C. startup that aims to increase consumer access to renewable energy, raised $30 million in its Series C round, led by G2VP. As it announced the new infusion, Arcadia rebranded from "Arcadia Power." It also signaled plans to expand services to four new states and launch a program to incentivize home energy reduction using smart devices.
Pop-up hotel startup WhyHotel closed a $20 million Series B round led by Harbert Growth Partners. The company, which converts new apartment units into hotel rooms during the lease-up phase, has operated in D.C., Arlington, Tysons, Seattle and Baltimore, CEO Jason Fudin said expansions into Houston, Orlando and Atlanta are coming in 2020. WhyHotel is also ramping up its own property development arm, Hospitality Living, expected to launch in 2022.
New Columbia Solar, a D.C. startup dedicated to launching solar energy projects in the District, raised $10 million from New Energy Capital Partners, the WBJ reported. The investment will go toward increasing the headcount and deploying 100 to 150 new solar projects, the company said. Its customers are typically schools, religious organizations, nonprofits and commercial properties that lease solar energy systems from New Columbia for up to 20 years.
Tysons' RunSafe Security raked in $6.3 million for its Series A funding round, bringing its total to $8.8M, the WBJ reported. The cybersecurity startup aims to "disrupt hacker economics" by reducing its customers' attack surface and protecting their systems from known exploits. The round was led by San Francisco-based Alsop Louie Partners, with participation from Working Lab Capital, Inner Loop Capital and Renegade Ventures.
DNSFilter raised about $5.5 million equity funding, according to an SEC filing. The D.C. startup makes a cloud-based web content filtering and threat protection systems used by IT professionals. According to Crunchbase, the company had $735,000 in funding before this filing.
Remedy Plan Therapeutics, a Gaithersburg-based biotech company working on drugs that could tumor growth and disrupt cancer stem cells, raised $5.2 million out of a planned $7.2 million round of equity funding, per an SEC filing. The company recently moved out of its old ‘garage lab’ and into a bigger, more state-of-the-art space, according to a company blog post.
Rockville-based Machfu, a startup that makes a management tools for industrial internet of things (IIoT) systems, announced a $3.75 million Series A round. The round was led by CSL Ventures with participation Blu Ventures, Texas Ventures and Texas Halo Fund. Led by founder and CEO Prakash Chakravarthi, Machfu said the new money will go toward strengthening its foothold in the smart grid and oil and gas markets.
Knowledge to Practice (K2P), a health care-focused edtech company based in Bethesda, announced $3.7 million in new funding that came largely from Peason Ventures, along with Avestria Ventures, Sofia Fund, ReThink Education and SideCar Angels. Led by founder and CEO Mary Ellen Beliveau, the company provides a post-graduate learning platform aiming to "address skill inequity, drive continuity of care, and bridge the gap between quality and competency" for health care practitioners.
Hememics Biotechnologies, a Rockville-based startup logged a $2.5 million backing from AMVI Partners, a consortium of Vietnamese investors with an office in McLean. Hememics is developing pocket-sized point-of-care devices that it claims can detect pathogens under a minute, with an initial focus on sexually transmitted illnesses. The company said it's putting the investment toward research necessary for making an FDA submission.
Camber Creek, a venture capital firm focused on real estate technology, reported a $7 million raise from a single investor for its Camber Creek Co-Invest LP fund, according to SEC records. Based in Rockville, Camber Creek is a recurring investor in WhyHotel, the aforementioned pop-up lodging startup.
Indiggo, a Bethesda-based company that develops a leadership platform, raised $1.6 million in new equity and debt funding, according to an SEC filing. The company, led by co-founder and CEO Janeen Gelbart and co-founder and Chief Leadership Officer Marc Inzelstein, previously raised a $4.4 million round in 2018, according to Crunchbase.
True Bearing Diagnostics, a D.C.-based biotech company, is seeking $20 million in new funding, according to the WBJ. The company is developing an RNA-based blood testing tool for the early detection of coronary disease.
Arlington-based HyperQube, a software company focused on replicating IT environments, is seeking $2 million in new funding, the WBJ reported. The company is also reaching for a larger Series A next year. The startup was founded in 2016 by CEO Craig Stevenson and it is expecting to have 15 or 20 employees by the end of 2020.
Street Entrepreneurs, a local nonprofit focused on bridging equity gaps in D.C. entrepreneurship, won a $175,000 Innovation Accelerator Grant from the Office of the Deputy Mayor for Planning and Economic Development, according to Technical.ly. The nonprofit organizes workshops for local entrepreneurs and offers them mentorship, networking opportunities and other resources.
Acquisitions
Xometry, a Gaithersburg company providing on-demand manufacturing marketplace, acquired German competitor Shift. Terms of the deal are not public, but Xometry said the move gives it reach into 12 new countries. Xometry had a $55 million Series D round in between May and July.
Ernst & Young, the British consulting giant, acquired the cybersecurity team of Sila Solutions Group. Sila's team is largely based in Arlington and Chicago and is joining EY's U.S. team. The companies did not disclose financial details.
DC-based higher education consulting company EAB acquired New York-based virtual tour startup YouVisit. YouVisit provides interactive photo tours of colleges for prospective students. Financial details were not disclosed. EAB itself was bought by private equity firm Vista Equity Partners in 2017 for $1.55 billion.
Herndon's DLT Solutions, a government software solutions provider, was bought by Tech Data of Clearwater, Fla. Tech Data said in a statement that DLT Solutions will complement its existing public sector business. The Tampa Bay Times reported that the sale went for $205 million.
