The Peach State was in the headlines quite a bit last week, with startups from buzzy industries like electric vehicles and customer engagement continuing to make moves here. Keep reading to learn what’s in store as we inch closer to 2022. This is the Built In Atlanta weekly refresh.
Rivian is opening a plant in Atlanta. Months after closing on a whopping $2.56 billion funding round, the SF-based electric vehicle maker has decided to open a second U.S. plant, located on the east end of Atlanta. Once it is fully ramped, the “carbon-conscious” facility will employ more than 7,500 employees and be capable of producing as many as 400,000 cars a year, according to Rivian. Construction is expected to begin this summer, and the start of production is slated for 2024. [Built In Atlanta]
Joule Ventures closed a $65M fund. Formerly known as Janvest Capital Partners, the Atlanta and Tel Aviv-based VC firm plans to use the money to help Israeli startups commercialize their products here in the U.S.. Joule usually does about four deals a year, and prefers to lead early-stage rounds of between $1 million to $3 million. Some previous investments include an $8.5 million seed round for SF-based Reposify and a $9 million seed round for Tel Aviv-based Mirato. This is the firm’s fourth fund. [AtlantaInno]
Atlanta Tech Quote of the Week
Punchlist scored $2M. Punchlist was created to help design teams better communicate and collaborate with each other, even when they are all remote — an essential tool amid the socially distant realities of the pandemic. With 8,000 users spanning some 39 countries, the young startup has already grown rapidly, and will use this fresh seed funding to continue expanding its product integrations and growing its team. [Built In Atlanta]
DataOceans is moving to Alpharetta. The customer engagement startup has decided to expand its footprint here in the Atlanta metro area, and will be moving its headquarters from Peachtree Corners to the Georgia 400 Center. The new office will feature open workspaces, an outdoor courtyard and plenty of amenities, and is meant to “provide increased work-life balance” for its employees, according to CEO Larry Buckley. This move is capping off a year of significant growth for DataOceans, and it plans to grow its local team to keep up the momentum. [Built In Atlanta]
Cloudmed bought par8o. By using AI, machine learning and robot process automation, Cloudmed is designed to help healthcare providers increase productivity and increase revenue. Meanwhile, Boston-based par8o specializes in patient referral management. This acquisition will allow Cloudmed to enhance its platform’s capabilities, giving it the ability to search for savings opportunities for healthcare providers via the federal 340B program. This is Cloudmed's second acquisition in just two months — the startup also bought Wisconsin-based Eligibill in October. [Built In Atlanta]