The biotech scene in Boston is booming as usual, and local companies in the space are flush with hundreds of millions of venture dollars after last month. However, the city’s largest tech round went to a company in the renewable energy space. Read on to see what these innovators have in the works.
Top Boston Tech Funding Rounds, April 2024
- Nexamp
- Buyers Edge Platform
- Obsidian Therapeutics
- Diagonal Therapeutics
- Seaport Therapeutics
#5. $100 million, April 9
ARCH Venture Partners and Sofinnova Investments led a round of Series A funding for Seaport, a company working to develop neuropsychiatry treatments. It develops drugs that are absorbed through the lymphatic system rather than broken down in the liver early on. Its most advanced neurosteroid is currently undergoing trials.
#4. $128 million, April 3
Diagonal Therapeutics researches new ways to treat disease by creating antibodies that activate their cellular targets. The company emerged from stealth with $128 million in funding from investors including Atlas Venture and Lightspeed to bring its initial products that will treat a rare blood disease and a lung condition into testing.
#3. $160.5 million, April 4
Equipped with a fresh round of Series C funding, Obsidian Therapeutics is working to clinically develop its lead therapeutic candidate for metastatic melanoma and non-small cell lung cancer. Wellington Management led the round for the company that engineers cell and gene therapies for intractable diseases.
#2. $425 million, April 8
Headquartered in Waltham, Buyers Edge Platform serves the food service industry with digital procurement solutions. It works to help stakeholders reduce costs, streamline supply chains and run profitable businesses. The company’s latest investment led by General Atlantic Credit will help fuel platform innovation, mergers and acquisitions as well as European expansion.
#1. $520 million, April 10
Renewable energy company Nexamp designs, builds and operates solar and storage solutions for individuals, communities and businesses. The company secured $520 million in fresh capital led by Manulife Investment Management to accelerate the deployment of its national project pipeline, expand its developer partnerships and fuel continued growth.
