Silk Raised $55M, Circle Goes Public, and More Boston Tech News

July 12, 2021
photo: Silk / Facebook

A few Boston tech startups are freshly outfitted with their latest funding rounds. Check out how they’re planning to fuel company growth, and who’s moving to the public sector. This is the Built In Boston weekly refresh.

Silk raised $55MThe Needham-based startup just closed on an oversubscribed Series B round for its cloud-based tech that allows enterprises to easily move their databases onto the cloud and run their stacks 10x faster. S Capital led the funding round that Silk is planning to put toward accelerating its sales and marketing efforts as well as expanding its engineering department. [Silk]

NewStore pulled in $45MIts platform helps D2C retailers run a business entirely from their smartphone. Its Series B-1 round will go toward expanding its global footprint and growing its team. NewStore’s platform is currently used by hundreds of retail companies across 20 countries. It’s currently hiring for tech roles at its Boston-based headquarters. [Built In Boston]

Boston Tech Quote of the Week

“One of our latest use cases, the TIN scanner, the tire identification number scanner, enables everyone to scan the DOT number printed on every tire with a camera on [a] smartphone, which is incredible because the difficulty of such capturing use cases is insanely high. It’s fair to say that we are probably the only company on the planet that is able to do that with accurate results, and that’s one of dozens of use cases where our tech is used in day-to-day life.” —Lukas Kinigadner, Anyline CEO and co-founder

Anyline secured $20MDeveloper of mobile data scanning tech, Anyline closed on its latest round of funding, led by Digital+ Partners, to build out its team. Its AI-powered product can gather information that’s been printed, embossed or written on physical objects. Having recorded significant growth recently, Anyline anticipates furthering this momentum with a 30 to 40 percent headcount increase. Its Boston-based positions span sales and marketing. [Built In Boston]

Circle to go public via SPACIn a $4.5 billion merger with Concord Acquisition Corp., cryptocurrency unicorn Circle is planning its public debut in Q4. Additionally, names including Fidelity Management & Research Company and Third Point are investing $415 million in financing in Circle. Following the crypto startup’s most recent funding round, the fresh capital will bring its gross proceeds to $1.1 billion. [Built In Boston]

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