Boston tech companies positioned themselves for growth last week by launching products, adding to their executive team and raising venture funding. Keep reading to catch up on the latest Boston tech news. This is the Built In Boston Weekly Refresh.
Venti raised $28.8M. The Boston-based startup manufactures autonomous vehicles for ports, factories and other logistics settings. This Series A financing, led by LG Technology Ventures, will allow the company to scale its team, as well as its research and development efforts. Founded in 2018, Venti has roots in MIT. [Built In Boston]
Boston Tech Quote of the Week
“By aggregating hundreds of product catalogs for a seamless search, discovery and shopping experience, our platform integrates with existing procurement systems to empower the purchasing departments to take control of their spend, provide greater visibility of purchasing trends and increase compliance with procurement processes within a comprehensive and customized internal marketplace.” — Siamak Baharloo, founder and CEO of Labviva
Labviva pulled in $20M. The Boston-based startup operates a marketplace of chemicals, lab supplies and other materials needed by pharmaceutical developers and life sciences researchers. Offering a selection of 15 million products from 18,000 different manufacturers, Labviva uses artificial intelligence to help researchers discover new products that align with their research. Labviva will use its Series A funding to grow its 40-person team to 70 employees this year. Because of its growth, the company will soon move to a new office that is five times larger than its existing space. [Built In Boston]
Mabl named a new CRO. The Boston company hired Anthony Palladino to boost adoption for its low-code test automation platform. Palladino brings more than 20 years of software experience to the role. Mabl, which raised a $40 million Series C round in 2021, has since doubled its employee headcount. [Built In Boston]
3Play Media launched a virtual caption encoding solution. 3Play Media uses machine learning and automatic speech recognition for captioning, transcription and subtitling. Last week the company introduced a new captioning technology for live video. 3Play Media said its solution will streamline the live captioning workflow and generate accurate captions with a 2-second delay — more than twice as fast as the broadcast standard of 4 to 6 seconds. 3Play Media is also actively hiring for a handful of roles. [Business Wire]
