Weekly Refresh: Algorand Raises VC Fund and Figur8 Leaves Stealth Mode

by Tatum Hunter
September 3, 2019
Boston blockchain cryptocurrency VC
photo via shutterstock

Algo Capital raised $200 million to invest in companies that use the Algorand blockchain platform. Algorand has its own cryptocurrency, the Algo. Now it has its own venture capital fund. By investing in blockchain startups, the firm hopes to boost use of its platform and currency. It’s already given money (in dollars and Algos) to four companies. [Built In Boston]

Figur8 launched a platform that will help doctors treat tough musculoskeletal issues. The platform’s combination of lightweight sensors and analytical software will hopefully take some of the mystery out of diagnosing problems from back pain to Parkinson’s disease. Figur8 founder Nan-Wei Gong told Built In that someday her team hopes their platform will be as routine as a blood test. [Built In Boston]

Cleantech startup incubator Greentown Labs partnered with technology research provider Lux Research. Lux will provide Greentown’s resident startups with data, analytics and guidance as the community works toward clean energy and climate solutions, the companies said in a press release. [Press Release]

Brookline proposed a ban on facial recognition software. This makes Brookline the third Boston community to consider such legislation, amid concerns that government use of the technology would violate civil liberties. [Boston Business Journal]

SmartBear acquired Finnish DevOps company Bitbar. Bitbar’s mobile app testing platform will bolster SmartBear’s software testing offerings. This is SmartBear’s second acquisition this year — it bought behavior-driven development company Cucumber Ltd. in June. The terms of this latest deal were not disclosed. [BostInno]

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