These 5 Austin Startups Raised a Combined $258M in May
Venture capital flowed into Austin startups from a variety of sectors last month, including a holding company that mentors health-conscious consumer businesses and a startup that developed a more environmentally sustainable motor. Keep reading to learn which five Austin companies received the most funding in May.
#5. $21 million, May 4
Marketing analytics startup Measured raised $21 million from Telescope Partners to help direct-to-consumer companies track which marketing channels are providing the most bang for their buck. The remote-first company has nearly tripled its headcount from 62 to 155 employees in the past year. Measured plans to hire an additional 45 employees by the end of the year.
#4. 35 million, May 17
Austin fintech startup FirstClose provides underwriting workflow automation technology, point-of-sale software and data services for the U.S. home equity and mortgage markets. The company leverages property data intelligence, industry-leading partners and groundbreaking technology to enable lenders to compete for and close consumer loans. The $35 million funding round is the company’s first institutional equity investment, as it has been self-funding since its founding in 2000.
#3. $46 million, May 23
Redbud Brands, an operating holding company based in Austin and Los Angeles, identifies, funds and mentors “better-for-you” consumer businesses in the food and beverage, health and wellness, beauty, personal care and pet sectors. Redbud Brands will use the fresh capital to support its commercialized portfolio brands with key hires and other resources, as well as to create, incubate and launch new products.
#2. $76 million, May 10
Mothership enables businesses to make same-day freight deliveries by automatically dispatching orders to the nearest freight truck in its network of tens of thousands of freight operators. Mothership’s technology also tracks shipments and identifies the most optimal route for short-haul freight truck drivers. The Austin company plans to use the $76 million in fresh funding to nearly double its 75-person team and scale its on-demand freight network to a nationwide network.
#1. $80 million, May 17
Infinitum Electric has developed a patented air-core motor that replaces the iron core and copper winding of a conventional motor with a PCB stator. The company claims its air-core motor offers superior performance at half the weight and size of a traditional motor, with just a fraction of its carbon footprint. The Series D funding round will be used to scale the production of the motors, while also completing the development of a traction motor that could extend the power range of electric vehicles.
