With a new acquisition and fresh funding for companies in the AI space, the Austin tech scene is working to build modern solutions for today’s pressing matters. Check out which companies are growing with the Built In Austin Weekly Refresh.
Hypergiant got $61M. The company develops AI innovations for the space, defense and critical infrastructure industries. The U.S. Airforce awarded Hypergiant a three-year contract with a potential value of $61 million. The contract extends Hypergiant’s work developing for the Joint Effects for Real-time Integrated Command & Control Operations. This platform-agnostic operating method will help the military command and control its courses of action while maintaining real-time situational awareness. [PRWeb]
Austin Tech Quote of the Week
“Bloomfire’s acquisition of Seva marks an exciting milestone in our journey to revolutionize how companies access their enterprise knowledge. We are thrilled to welcome the talented Seva team to the Bloomfire family and unite our shared vision of creating the best enterprise knowledge base and generative AI platform in the market.” — Ben Little, Bloomfire CEO
Bloomfire acquired Seva. Bloomfire’s SaaS solution works to help companies capture, share and leverage teams’ collective knowledge to drive better business outcomes. The company is enhancing its platform’s capabilities with the acquisition of Seva, an AI-powered tool that helps support teams solve customer support inquiries. The combined company’s goal will be to help clients enhance productivity, fuel collaboration and deliver top-tier customer support. [PR Newswire]
Genprex secured $7.5M. The company that develops gene therapies for patients with diabetes and cancer announced the sale of 7,425,744 shares of its common stock, priced at $1.01 apiece. The proceeds from the offering will serve as working capital and be put toward general corporate purposes. [PR Newswire]
