From advanced computer vision technology to innovative Web3 solutions, Boston tech startups are hard at work developing the solutions of the future. Here’s how the local companies that raised the largest funding rounds in July plan to use their fresh capital.
Largest Boston Tech Funding Rounds, July 2023
- Surge Therapeutics
- Allonnia
- P0x Labs
- VEIR
- Ubicept
#5. July 25, $8 million
Computer vision company Ubicept secured an oversubscribed round of funding from lead investors Ubiquity Ventures and E14 Fund. The company leverages single-photon sensors to turn the individual photons that hit an imaging sensor into a computer vision output. The funding will help Ubicept further its work of transforming how computers understand the world.
#4. $24.9 million, July 27
Headquartered in Woburn, VEIR develops clean tech solutions focused on the electric transmission of renewable energy. It announced the completion of an energized 100-foot overhead superconductor power line with cooling capabilities. The company also recently secured $24.9 million in Series A-2 funding from investors including Breakthrough Energy Ventures.
#3. $25 million, July 19
P0x Labs, a company working to develop projects like the blockchain Manta Pacific, delivers privacy solutions for Web3 applications and decentralized assets by using zero-knowledge proofs, where information can be proved as present without disclosing the contents of that data. The startup pulled in a Series A funding round from investors including Polychain Capital and Qiming Venture Partners to expand its network and attract more users.
#2. $30 million, July 12
Allonnia’s solutions help to discover and advance natural solutions to environmental problems like waste challenges in the metals and mining industries. It also works to implement methods to solve these issues such as materials upcycling and contaminant remediation. Now, backed by lead investor Bison Ventures for its Series A extension round, Allonnia plans to expedite product development.
#1. $32 million, July 19
Headquartered in Cambridge, biotech company Surge wants to improve the delivery of immunotherapy during cancer surgery. The startup secured a $32 million Series B round led by Bioluminescence Ventures to further the development of its approach, grow its team and advance clinical trials for its injectable biodegradable hydrogel.
