Learn how the tech companies who raised last month’s largest rounds are investing their new capital.
Austin tech companies of all stripes brought in fresh funding in September to grow their teams and advance their technology. The month’s five largest funding rounds will be used to help stroke survivors, develop more sophisticated satellite imagery and increase access to particle accelerators. Keep reading to see which Austin companies attracted the most funding in September.
#5. Kizen: $12 million, September 13
Kizen, a no-code enterprise software company, has developed a sales CRM platform that helps align teams while automating up to 10 hours of non-selling tasks per week. The Kizen Operations Cloud, meanwhile, helps operations teams unify data, customize workflows and automate processes. The seed funding will be used to expand its marketing and sales campaigns while supporting new product features.
#4. TAU Systems: $15 million, September 26
TAU Systems, which was spun out of the University of Texas at Austin, is developing smaller, more affordable particle accelerators that could be as small as a desk or as large as 20 to 30 meters. These particle accelerators can produce X-ray free-electron lasers (XFEL), which allow researchers to perform molecular or atomic analysis in the fields of biotech, chemistry or materials science. The company will use its newfound seed funding to develop an industrial prototype. The company hopes to provide XFEL analysis as a service by 2026 and start selling XFEL systems as a product by 2027.
#3. Form Bio: $30 million, September 27
Colossal Biosciences, a biotech startup that aims to bring back the woolly mammoth and Tasmanian tiger from extinction, launched Form Bio after identifying a gap in the life sciences software market. The new company raised a $30 million Series A round to grow its AI-based software that helps life scientists manage large datasets, execute workflows and collaborate with colleagues. The company said the platform could be used for drug discovery, manufacturing efficiency and other endeavors.
#2. Albedo: $48 million, September 7
Albedo is developing satellites that fly in very-low-Earth-orbit to co-collect 10-centimeter optical imagery, which was illegal for commercial uses until May of 2020. The company will use its large Series A round to finish the development of its first satellite and develop the software necessary to support satellite operations and deliver images to users.
#1. MicroTransponder: $73 million, September 21
MicroTransponder has developed technology to help stroke survivors regain upper limb function. The company raised this oversubscribed Series E funding round to support the development and commercialization of Vivistim, its FDA-approved neurostimulation device that uses vagus nerve stimulation (VNS) during rehabilitation therapy, improving hand and arm function by two to three times that of therapy alone.
By Jeff Rumage
Originally Published in Built In ATX