Despite the slowdown in venture funding over the past month, the Dallas tech scene is still keeping busy. The five largest local funding rounds last month brought in a combined $245 million — less than last month’s total, though the $1 billion investment in Securonix certainly swayed that total.
Read on to learn more about the tech startups fueling fresh innovation in the DFW metro.
#5. $10 million, March 3
Dallas-based Gradient Cyber started the month with a bang securing by $10 million in debt financing from Revtek Captial. The cybersecurity startup offers 24/7 security monitoring and uses AI that will detect when cyberattacks are happening in a network and responded according to the block the attackers. According to VentureBeat, the company’s latest funding round will be used to accelerate its growth.
#4. $17 million, March 2
With a fresh $17 million raised in a Series A round, Fort Worth-based Linear Labs is wasting no time upscaling its EV motor manufacturing capabilities and hiring talent. Linear Labs develops and manufactures electric motors for light electric vehicles, such as golf carts, mopeds and small motorcycles, among others. The funding follows a $69 million grant from the city of Fort Worth and in total the startup has now raised $99.4 million in funding.
#3. $43 million, March 8
Blockmetrix has been around for less than a year but already has some serious backing behind it. In March, the company raised $43 million in a Series B funding round that it plans to use to secure some 5,000 high power mining computers to mine bitcoin. Blockmetrix, based in Dallas, also pays a network of individuals to help validate crypto transactions.
#2. $60 million, March 8
Colossal is attempting to revive the woolly mammoths and last month raised $60 million to help it do just that. With the new funding, the Dallas-based startup is looking to “dramatically accelerate” its hirings and will look to bring in talent with expertise in computational biology, embryology, stem cell biology, software engineering, advanced biology, medical device hardware and genomics. Colossal also does research into protecting current species that may go extinct one day.
#1. $115 million, March 23
Toping the list for most money raised by a DFW tech company in March is Island with its $115 million Series B. The company makes an enterprise-grade secure web browser that can be customized to meet an individual or company’s security needs. With the new investment, Island also hit a $1.3 billion valuation propelling the company to unicorn status. The company is currently hiring with several openings listed on its website.
