Catch up on the latest funding announcements, office openings and all things tech in Silicon Hills. Learn about the innovative companies featured in the Built In Future 5 series or read about the new R&D facility that will advance artificial intelligence capabilities for Sortera Alloys. This is the Built In Austin Weekly Refresh.
StructShare got $8M. StructShare is a construction tech startup that helps contractors streamline their material purchasing and improve overall efficiency. Recently the company secured new funding in a round led by KOMPAS. The funding came after StructShare witnessed its customer base grow by 300 percent year-over-year. [TechStartups]
Several companies were featured in the Built In Future 5 series. Austin is home to many early-stage tech companies, and this quarter Built In Austin connected with five founders to tell their stories. The companies featured in the Future 5 series span the e-commerce, animation, fintech and edtech industries. Read on to learn more about theses innovative companies in Austin. [Built In Austin]
Austin Tech Quote of the Week
“This team has stayed focused on our core mission, continuously outpacing industry expectations while diligently managing capital. Raising the Series A from these exceptional investors in this challenging economic climate sends a clear message to the market on where enterprise companies are placing their bets in the race to create quantum value.” — William Hurley, CEO and founder of Strangeworks
Strangeworks raised $24M. Founded in 2017, Strangeworks is a quantum computing company that helps developers and researchers access quantum tech. Last week the company raised new funding and said it will begin developing AI tools and software for its customers. Strangeworks plans to continue hiring for its core team. [Built In Austin]
Sortera Alloys opened an R&D facility. Sortera is an Indiana-based company that uses AI and advanced sensor technology to sort and recycle scrap metal. The company recently established a research and development office in Austin that will work to advance its AI sorting tech. Sortera stated that it chose Austin for its “thriving” tech ecosystem. [PR Newswire]
