Despite a quieter week on the Austin tech front, a handful of companies are pursuing new growth initiatives. Find out which companies got fresh capital and which ones are growing their footprint. This is the Built In Austin weekly refresh.
LitLingo raised $7.5M. With a fresh round of Series A funding led by Breyer Capital, LitLingo is spending the next year doubling its headcount. The startup provides real-time AI communication analytics for enterprises, and it’s putting some of the capital toward enhancing its platform. LitLingo is currently hiring with a focus on sales, marketing, customer success and engineering. The company previously raised a $2 million seed round last fall. [LitLingo]
The Boring Co. expands its land. Owned by Elon Musk, the tunneling startup acquired 73 acres of land in Bastrop County back in May. The purchase was made by Gapped Bass LLC, which is connected with executive members of The Boring Company. The startup digs tunnels meant for low-cost transportation, utility and freight usage. With the expansion, the company may be looking to develop an autonomous tunneling mechanism. [Austin Business Journal]
Austin Tech Quote of the Week
IFly.vc closed a $46M fund. The firm recently relocated its headquarters to Austin from San Francisco. After establishing its new base, iFly.vc announced the close of its Fund II to continue investing in tech startups seeking seed- or Series A-sized rounds. To date, 18 companies make up the firm’s portfolio, including Weee!, Camp Six and Yummy Bazaar. [Built In Austin]
Cart.com acquired DuMont Project. Working in the e-commerce space, Cart.com provides businesses with E2E software and services to grow their brands. It announced the acquisition of growth marketing consultancy DuMont Project and plans to create a one-stop shop for e-commerce brands with their combined offerings. Cart.com’s current headcount has grown to over 140 people, and it’s currently hiring for 23 more positions. [PR Newswire]
