Spring is officially here, and as temperatures start to rise, Boston’s tech sector is also warming up. March was a big funding month for industries ranging from 3D printing to hardware, which included new capital for Desktop Metal and Scout Exchange. In total, the top five financing rounds on our site saw over $270 million: Check them out below.
5. WHOOP, $25 million, Mar. 6
Investors: The Series C round was led by UAE71 Capital with participation from the National Football League Players Association (NFLPA), Durant Company, Thursday Ventures and existing investors.
The details: WHOOP creates lightweight, waterproof bands that can track an athlete’s sleep, recovery and strain, providing a continuous understanding of their body to help reduce injuries and predict performance.
News: The financing will go toward accelerating WHOOP’s international expansion and growing its elite and consumer markets.
4. BewellConnect, $30 million, Mar. 15
Investors: New York-based Hudson Bay Capital Management led the round.
The details: Bewell uses connected health devices to monitor patient progress and sends the information back to the physician, enabling patients to be more educated and empowered in playing a part in their healthcare.
News: BewellConnect will use the funding to accelerate the development of its connected health products and services — particularly in the area of remote patient monitoring.
3. Finally Light Bulb, $50 million, Mar. 14
Investors: The round was led by Brian Kelley, the former President of Coca-Cola Refreshments.
The details: Finally Light Bulb, which has raised $93 million to date, makes light bulbs that use the company’s patented Tesla technology rather than LED.
News: The funding will be used for sales and marketing efforts, as well as research and the development of new products.
2. Desktop Metal, $65 million, Mar.20
Investors: Ford Motor Company led the round.
The details: Founded in 2015, Desktop Metal wants to transform manufacturing and engineering with its metal 3D printers.
News: The financing will go toward fueling the company’s growth, and bringing its scalable metal 3D printing technologies around the world.
Scout Exchange, $100 million, Mar. 12
Investors: John Chuang’s investment firm, TRI Ventures, led the round.
The details: Opposed to the traditional “1:1” recruiting model, which limits employers and search firm recruiters to working with people they already know, Scout Exchange harnesses machine learning and applies it to the recruiting marketplace to locate the best search firm recruiters to fill each job.
News: The funding will be used to accelerate the growth of Scout’s machine learning-powered recruitment marketplace, expand the tech company’s Boston team and enhance both its matching algorithms and analytics platform.
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