Venture capital poured into Austin startups from various sectors last month, including a holding company that mentors health-conscious consumer companies and a startup that developed a more environmentally friendly engine. Keep reading to find out which five Austin companies received the most funding in May.
#5. $21 million, May 4
Marketing analytics startup Measured has raised $21 million from Telescope Partners to help direct-to-consumer companies learn which marketing channels get the most bang for their buck. The first remote company nearly tripled its workforce from 62 to 155 employees in the past year. Measured plans to hire 45 additional employees by the end of the year.
#4. 35 million, May 17
Austin-based fintech startup FirstClose provides underwriting workflow automation technology, point-of-sale software and data services for the US home equity and mortgage markets. The company leverages real estate data intelligence, industry-leading partners and breakthrough technology to enable lenders to compete and close consumer loans. The $35 million financing round is the company’s first institutional equity investment, as it has been self-financing since its inception in 2000.
#3. $46 million, May 23
Redbud Brands, an operating holding company based in Austin and Los Angeles, identifies, funds and sponsors “better for you” consumer companies in the food and beverage, health and wellness, beauty, personal care and pets. Redbud brands will use the fresh capital to support its portfolio of marketed 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-based company plans to use the $76 million in new funds to nearly double its team of 75 people 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 engine delivers superior performance at half the weight and size of a traditional engine, with only a fraction of its carbon footprint. The Series D Funding Round will be used to scale motor production, while completing development of a traction motor that could extend the power range of electric vehicles.