The five Austin tech companies that raised the most funding in March captured financing for global expansion, product launches and additional staff. Their collective new capital totaled $175.5 million. Keep reading to learn about the Austin tech companies that have caught investors’ attention.
Austin’s Largest Tech Funding Rounds, March 2023
- Coherent Logix
- Overhaul
- Strangeworks
- StellarFi
- Mythic
#5. $13 million, March 9
Artificial intelligence processor startup Mythic develops technology for edge AI applications. Its products are meant to bring cost and power efficiency to applications like augmented and virtual reality experiences and smart factories. Mythic plans to launch a new product series funded by the $13 million it raised last month.
#4. $15.5 million, March 28
StellarFi is a fintech company that helps users build their credit. Customers can use the StellarFi virtual card to set up automatic bill payments and then StellarFi reports that positive payment history to credit bureaus. StellarFi snagged $15.5 million in Series A funding that will be used to expand the company’s staff and the features it offers.
#3. $24 million, March 21
Strangeworks makes quantum computing technology accessible to its customers. Through the company’s platform, users can scour a catalog of quantum solutions and resources that can be integrated into their workflows. Strangeworks raised $24 million in a Series A funding round that’s being put toward branching into AI products and services.
#2. $38 million, March 13
Overhaul has created a SaaS solution that covers supply chain visibility, risk management, compliance and insurance for freight transportation. Overhaul netted $73 million in funding to advance the company’s global expansion following its acquisition of logistics company SensiGuard, which had offices in Brazil, Mexico and the Czech Republic. The financing came in the form of $38 million in equity and $35 million in non-dilutive debt in an investment round led by Edison Partners with participation from eGateway Capital.
#1. $85 million, March 7
Coherent Logix builds processors for the embedded systems market. Its products and solutions have applications for the Space 2.0, defense, communications and connected devices industries. After raising $85 million in funding last month, the company expects to further its reach in the communications, commercial edge and AI markets.
