The five largest funding rounds in the Boston tech scene generated a collective $463 million last month. The funding went toward innovations in biotech, decarbonized steel and artificial intelligence-powered scent creation. Keep reading to see which Boston tech companies attracted the most funding in January.
Largest Boston Tech Funding Rounds, January 2023
- Asimov
- Boston Metal
- Osmo
- Alira Health
- Nano-C
#5. Nano-C: $50 million, January 5
Nano-C manufactures nanostructured carbon materials, which can be used to make stronger, cheaper and more environmentally-friendly iterations of solar panels, semiconductors, image sensors and touch screen displays. This new funding will help the company scale its manufacturing capacity and put it in a position to surpass $300 million in revenue by 2027, according to the company.
#4. Alira Health: $58 milion, January 9
Framingham-based Alira Health provides pharmaceutical, biotech and medical technology companies with expert advice and software tools as they navigate product development, regulatory issues and the clinical trial process. The company will use its new funding to focus on potential opportunities brought about by legislation allowing patients to access their own electronic health information.
#3. Osmo: $60 million, January 24
Osmo, which spun out of Google Research, has developed software that can analyze the structure of molecules and predict what aroma they will create. The company, which just received an initial funding round, has already begun designing custom scents for perfumes, lotions and other aromatic products. Osmo also hopes to develop a more effective mosquito repellent and maybe someday computers with a way to analyze scents, not just their molecular structure.
#2. Boston Metal: $120 million, January 27
Boston Metal, which spun out of MIT in 2012, has developed technology to decarbonize steel production, which accounts for nearly 10 percent of global greenhouse gas emissions. The Series C funding will be used to expand production at Boston Metal’s pilot facility in Woburn and build a manufacturing facility for the company’s Brazilian subsidiary.
#1. Asimov: $175 million, January 5
Asimov is building a platform designed to accelerate synthetic biology innovation by providing pharmaceutical and biotech companies with proprietary cell lines, genetic design software and engineered genetic systems. The company said it will use its new Series B funding to scale its platform, expand its research and development efforts and grow its 70-person team.
