5 Boston Tech Companies Raised a Combined $676M in February

These local tech companies landed the largest rounds on our radar. Learn how they are investing last month’s fresh capital.
Written by Miranda Perez
March 1, 2022Updated: March 1, 2022
Photo: Shutterstock
Photo: Shutterstock 

Local data-capturing, e-scooter safety and carbon removing tech companies raked in more than half a billion dollars in combined funding this month. This represented a slight dip from last months total and a markedly lower total than the same month last year.

Still, Boston’s local unicorns and emerging startups have big things in store for 2022. Built In Boston dove into where these five standout startups are directing their fresh investment, so you don’t have to. Keep reading to see what they have planned.

 

#5. $71 million, February 1

Jellyfish, an engineering management company with customers like Mastercard, Toast and Zoominfo, gained $71 million in its Series C funding round. The company’s technology works to analyze a businesss engineering data to help it organize things like data from roadmap tools, calendars, HR systems and more. Jellyfish’s fresh funding will go to scaling its product functions. 

 

#4. $80 million, February 1

Woburn-based energy-efficient electric carbon capture and removal company Verdox raised $80 million in funding from Breakthrough Energy Ventures (BEV), Prelude Ventures and Lowercarbon Capital. The funding will be used to produce and release the carbon-capturing technology that was originally developed by the founders at MIT. 

 

#3. $125 million, February 1

A safety-first approach to e-scooter development gained MIT spinout Superpedestrian $125 million in funding. The company’s technology uses a GPS-tracking, intelligence safety system backed by AI, sensors and microprocessors that are meant to prevent unsafe riding behavior. Superpedestrian’s recent funding will go to hiring and placing its scooters in 25 cities across the U.S. and Europe this year.

 

#2. $150 million, February 9

Boston gained another unicorn this month after Scandit, a data capture company, raised a $150 million Series D. The company grew a lot of traction during the pandemic through providing data capture services to national health organizations to support Covid-19 programs and initiatives. Its fresh funding will go to research, development and growing Scandit’s reach globally, particularly in Japan, Singapore and South Korea.

 

#1. $250 million, February 9

One year after becoming a unicorn, data analytic storage company Starburst tripled its valuation to $3.35 billion after raising a $250 million Series D round last month. The raise follows a successful year for Starburst. In 2021, it tripled its global customer base and employee headcount. The preempted funding will go to expanding its reach in Asia, increasing operation capabilities and hiring for nearly 100 roles in Boston and remotely. 

 

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