Last week, Boston tech companies announced large funding rounds that will propel their innovations to the next level. Keep reading to learn about emerging technologies like autonomous medical billing and the conversion of food into renewable natural gas. This is the Built In Boston Weekly Refresh.
Divert inked a $1B infrastructure agreement. Divert, which converts wasted food into renewable natural gas, has entered into an infrastructure agreement with energy giant Enbridge. This agreement and funding will allow Divert to build facilities in every major geographic region of the U.S. over the next eight years. Divert also announced it received $100 million in equity funding, $80 million of which came from Enbridge. [Built In Boston]
CodaMetrix landed $55M. CodaMetrix has developed an AI-powered solution that can autonomously handle medical coding for roughly half of a hospital’s cases, saving hospitals time and money while reducing the number of medical billing errors. The software, which was developed at Mass General Brigham, is already being used at 10 health systems and academic universities. This Series A funding will help CodaMetrix reach more healthcare organizations. [PR Newswire]
Boston Tech Quote of the Week
“When I think of food, I think of kebabs, dumplings, lasagna and meatballs. I thought, ‘What if all of this can be plant-based? What if we could come up with ingredients that could be used by chefs to design any particular meat product in a plant-based format?’” — Aakash Shah, CEO and co-founder of High Time Foods
High Time Foods was featured in our Future 5 series. The latest installment of our series about early-stage startups shines a light on High Time Foods, which has developed a shelf-stable plant-based chicken alternative. High Time Foods’ alternative can be found in eight different Boston restaurants. The product, which is made from peas, wheat and mung bean, has 19 grams of protein per serving but no sodium, cholesterol or preservatives. [Built In Boston]
Metrika pulled in another $4M. Metrika’s technology provides visibility into the performance, reliability and potential security issues on blockchain networks. This $4 million funding round is an extension of the Cambridge startup’s $14 million Series A financing round from September 2021. Metrika plans to use the funding to scale its platform and expand into financial institutions and regulatory agencies. [PR Newswire]
Boston’s largest five funding rounds brought in a collective $249M last month. The five biggest tech funding rounds of February went to Hemab Therapeutics, CodaMetrix, Axena Health, Electra Vehicles and Istari. These companies won over investors with their disruptive innovations in medical devices, AI-assisted medical billing and more. [Built In Boston]
