Although the tech sector nationwide has seen a downturn in funding, Boston tech companies, particularly those in the energy and agriculture sectors, brought in more than $1.1 billion from the area’s five largest funding rounds last month. That’s nearly triple the $398 million raised across the five biggest funding rounds in May. Read on to find out which companies raised funds and how they plan to use their fresh capital.
#5. $150 million, June 16
SaaS buying platform Vendr raised $150 million, boosting the company into unicorn territory with a $1 billion valuation. Vendr works with businesses to speed up software transactions while lowering purchase costs.
#4. $169 million, June 15
Zoovu secured $169 million to build out its go-to-market strategy and team while bolstering product development efforts, according to TechCrunch. The AI-based “product discovery” platform guides consumers attention to products with personalized insights about buyers and other factors.
#3. $198 million, June 22
Electric Hydrogen raised $198 million in equity and venture debt, according to Crunchbase. The company has a patented technique for electrolysis, which is the process of manufacturing hydrogen from water and electricity. The technique is used in areas like fertilizer, steel and intercontinental energy transport.
#2. $300 million, June 15
Devens, Massachusetts-based Little Leaf Farms raised $300 million in equity financing and debt funding. Little Leaf Farms will use the funding to construct a greenhouse on 180 acres in Pennsylvania. Utilizing a hands-free farming process and established greenhouse technology, Little Leaf aims to grow lettuce year-round and produce lettuce available by 2026 to half the U.S. population.
#1. $350 million, June 8
Agilitas Energy raised $350 million of equity in a two-tiered investment from funds managed by CarVal Investors L.P., according to the company. Agilitas Energy develops, builds, owns and operates distributed energy storage and solar photovoltaic (PV) systems in the northeastern U.S.
