These 5 Boston Tech Companies Raised a Combined $1B in August

Read on to see how these local companies are investing their fresh capital.

Written by Ashley Bowden
Published on Sep. 01, 2021
These 5 Boston Tech Companies Raised a Combined $1B in August
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photo: shutterstock

The Boston tech sector was abuzz with venture activity last month. Innovations abound in areas from green energy to healthcare, and these companies are well-equipped to invest in building out their bright ideas. Find out what these companies are planning with a collective $1 billion in fresh funding.

 

#5. $100 million, August 10

Providing manufacturers with a no-code frontline operations platform, Tulip works to help operators across a variety of industries improve their teams’ productivity. The Somerville-based company closed on a Series C round to invest in adding new features to its product, like applying AI and data science to workflows. It’s also doubling its 130-person team. Insight Partners led the round.

 

#4. $200 million, August 30

Having experienced rapid growth, Whoop developed wearable technology and a data-driven app that lets users track their fitness and sleep patterns 24/7. With $200 million in Series F funding led by SoftBank Vision Fund 2, the health monitoring company is planning to invest in R&D and expand into new markets. It also wants to grow its team with over 50 Boston-based positions listed now.

 

#3. $220 million, August 10

Coatue led the $220 million Series C round for Reify, a company working to digitize the clinical trial process. Its StudyTeam platform helps biopharmaceutical companies recruit participants while its Care Access solution brings clinical trial infrastructure to patients remotely. The fresh injection of capital will help scale these platforms to meet demand and allow Reify Health to grow its team.

 

#1 (tied). $240 million, August 17

The company provides customers like consumers and businesses with solar and storage solutions toward the end goal of making clean energy more accessible. Its latest injection of capital, consisting of a $240 million equity investment and a $440 million debt facility, will enable Nexamp to offer customers a more flexible range of decarbonization options. It’s also expanding its team to create more retail solutions.

 

#1 (tied). $240 million, August 25

Having attracted attention from big-name investors like Jeff Bezos and Bill Gates, this company is quietly working on a new type of rechargeable battery and has now secured a Series D funding round of $240 million. Form Energy’s model employs a process in which the battery charges and discharges by converting iron back and forth into rust. To date, the company has secured a total of $360 million in total funding.

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