OM1 Raised $85M, Accion Systems Got $42M, and More Boston Tech News

July 26, 2021
Photo: OM1

Boston is a bustling scene for healthcare, but companies across a range of other industries are making moves as well. Catch up on the latest news from these innovative startups. This is the Built In Boston weekly refresh.

OM1 secured $85MThe healthcare and analytics company collects data from patients, labs and the like to help develop and evaluate medical products and treatments. Following its Series D raise, OM1 wants to expand its data networks to cover chronic disease areas and further its AI analytics models. This latest funding round was co-led by Kaiser Permanente, D1 Capital Partners and Breyer Capital. [MedCity News]

Inkbit pulled in $30MLooking to increase the reliability of the 3D printing process, this company develops printers that use machine vision and artificial intelligence that works to maximize speed, precision and reliability. Having recently launched its Inkbit Vision product, the company is looking to invest its Series B funding, led by Phoenix Venture Partners, in ramping up production and growing its team. [Built In Boston]

Boston Tech Quote of the Week

“We are the largest and so have the biggest data set on people’s needs in end-of-life. This was strategic because we understand that there is a lot of variation in how people want to engage in this topic. The only way to create a good user experience is to combine data science and AI with human empathy/expertise to create a personalized user journey based on that person’s values, preferences and life situation.” —Cake co-founder Suelin Chen

Cake pulled in $3.7MThe company offers an end-of-life platform that serves over 30 million users a year. Cake walks them through planning for one’s own death and grieving for others, as well as providing solutions for organizations like insurance companies and banks. With its new funding from investors like AARP and InHealth Ventures, Cake is growing its team across engineering, business development and more. [Built In Boston]

Evolv is now a publicly listed companyBased in Waltham, Evolv builds tech for weapons-detecting security screening. After joining forces with special purpose acquisition company NewHold Investment Corp., Evolv made $385 million in proceeds and has now attained unicorn valuation. The new funding will go toward expanding internationally and pursuing partnerships and acquisitions. [Evolv]

Accion Systems got $42MHaving developed an electrical energy-based propulsion system for spacecraft, the company received its latest round of funding to build its fourth-generation product, the tiled ionic liquid electrospray, or TILE for short. Tracker Capital led the company’s Series C round that brings its valuation to $83.5 million. [TechCrunch]

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