December draws the curtain on a wild year for fundraising — and in keeping with the trend of 2021, it doesn’t disappoint.
Over the last month, a string of D.C.-area startups have raised rounds including Arlington risk management firm Interos Inc. with $6.5 million, D.C. med-tech company Nanochon LLC with $2 million, District tech startup Enquire AI with $5.5 million, Tysons tech firm Datasembly with $7 million, Gaithersburg biotech VLP Therapeutics Inc. with $21 million, Clarksburg autonomous and robotic systems company Robotic Research LLC with $228 million, D.C. medical device startup Hubly Surgical with $900,000 and Vienna roadside assistance startup Urgently with $75 million in debt financing.
Greater Washington also saw McLean’s Blue Delta Capital Partners close a $215 million fund and PepVax Inc. CEO Mahesh Narayanan launch a $25 million fund.
The last funding raises of 2021 bookend an active year for investments, in which several local players secured more dollars and set new records for themselves and the region. And more than 10 companies raised at least $100 million in a single round:
- In the District, the club comprises ed-tech startup Class Technologies Inc., fast-casual restaurant chain Cava, defense and security company Rebellion Defense Inc., student loan startup MPower Financing, clean energy startup Arcadia and insurance startup Pie Insurance.
- In Maryland, it includes Gaithersburg cancer therapy company Arcellx Inc., Bethesda primary care company Aledade Inc. and Gaithersburg biopharma Sirnaomics Inc.
- In Virginia, it encompasses Arlington supply chain company Interos, Herndon cybersecurity company Expel Inc., McLean identity security company ID.me, Reston software firm ScienceLogic Inc. and Herndon data analytics firm HawkEye 360 Inc.
These local ventures, and many more, stand to make big moves in 2022. Be on the lookout for our Startups to Watch roster, to be released in early January.
Related: All of the fundings through January and February, March and April, May, June, July, August, September, October and November.
Before then, let’s take a look at a handful of the startups that have raised funding in December. As always, keep in mind it’s not an all-encompassing list, just a snapshot of where the money’s moving throughout the ecosystem.
- Base Operations: The District safety and security startup, a 2021 Fire Awards winner, disclosed Dec. 14 $3 million in seed capital following a $2.2 million raise earlier this year. Mindset Ventures, a firm focused on early-stage tech in the U.S. and Israel, led the latest round, which also saw participation from Prefix Capital, Good Growth Capital, Gaingels, Inner Loop Capital and Glasswing Ventures. It brings more dollars to Base Operations, led by CEO Cory Siskind, for recruiting, product enhancements, artificial intelligence investments and a global expansion, per its announcement.
- KeifeRx LLC: The McLean biotech announced Dec. 8 a $6 million Series A financing round. The capital positions KeifeRx to advance its pipeline for treatments of neurodegenerative diseases including Alzheimer’s, Parkinson’s, Huntington's and Lewy body dementia. The clinical-stage company also added Janis Buchanan and Matthew Petzold to its board of directors, to serve alongside existing members CEO Chris Hoyt and Dr. Fernando Pagan. The biotech plans to kick off a late-stage clinical trial in early 2022 of its lead candidate in patients with early Alzheimer’s disease, Hoyt said in a statement. The company was founded in 2019.
- Procurated Inc.: The D.C. ratings and review startup said Dec. 7 it raised $10 million in Series A financing, bringing its lifetime funding to $15 million. Greycroft led the round, and Tribeca Venture Partners, TDF Ventures and Limerick Hill also participated. The company’s platform serves the public sector, including the local government and education markets.
- Nailbiter Inc.: The Reston startup announced Dec. 23 $13.3 million in new funding from U.S. Boston Capital Corp. The company said it plans to use the financing to speed up its global expansion, improve its augmented reality technology and develop new products. Specifically, Nailbiter intends to use the funds to add to its team and bolster its employee benefits, co-founder and CEO Amishi Takalkar said in a statement. She also wrote in a LinkedIn post that the company is “recruiting heavily.” The 7-year-old business, which provides market research with its in-store and e-commerce technology, counts 13 of the top 20 consumer packaged goods companies as its customers, according to its press release.
- Adlumin Inc.: The D.C. managed security services automation company said Dec. 7 it raised $25 million in a Series B round led by SYN Ventures and First In Ventures. The Independent Community Bankers of America, BankTech Ventures, Leawood Venture Capital and others also participated. Adlumin’s platform aims to enhance its customers’ existing security infrastructure. This financing “will further fuel Adlumin’s explosive growth,” the company said in its announcement. The business said it also expects to continue adding customers. “Armed with new capital, we will be making massive investments in our channel program, enabling our partners to make an even bigger impact by delivering our leading security analytics technology to customers across the globe,” CEO Robert Johnston said in a statement.
