The ongoing pandemic isn’t slowing down Austin’s venture funding momentum. Read more to learn which companies are pulling in new cash. This is the Built In Austin weekly refresh.
Molecula secured $17.6M. This data virtualization company enables users to perform complex data analysis while simultaneously reducing the risk of errors. The Series A funding round was led by Drive Capital, raising the company’s total venture funding to $23 million. With the fresh cash, Molecula anticipates launching its Molecula Cloud service and scaling marketing and sales efforts. [Built In Austin]
Everlywell adds $75M. With its at-home testing kits, the healthtech startup announced the addition of $75 million to its Series D raise, closing out the round’s total amount at $175 million. Everlywell will use the funding to provide its current investors with liquidity. The final installment of this funding round came from HealthQuest Capital. [TechCrunch]
Austin Tech Quote of the Week
Techstars Austin names new accelerator class. As part of its yearly accelerator program, Techstars is hosting an online class to coach new companies on business essentials. Some of this year’s participants include Englightapp, a data analysis platform from North Dakota; Hampr, a laundry service platform from Louisiana; and Mowies, an entertainment platform from Colombia. [Built In Austin]
Austin startups secured VC despite a pandemic. Over the span of 2020, firms invested $2.26 billion into Austin companies, only slightly less than the $2.3 billion record set the year prior, according to a new report by PitchBook. There were 260 venture deals closed in the Austin area last year, with the largest amounts going to Everlywell with $175 million, Homeward with $125 million and Shattuck Labs with $118 million. [Austin Inno]
Sustainment pulled in $2.1M. The startup provides local manufacturers and government teams with collaboration tools, working to help companies build networks of qualified, domestic suppliers and vendors. With the funds from its Blackhorn Ventures-led round, Sustainment plans to expand its software development efforts and further its AI tech. [FinSMEs]
