D.C. tech companies continue to grow thanks to venture capital investments. Last month, the five largest funding rounds brought in a combined $264 million — a $56 million increase from March.
Cavnue took the lead in April, bringing in an impressive $130 million to develop roadways of the future. Read on to learn about the other top tech funding rounds in the D.C. metro last month.
#5. $20 million, April 26
Zeno Power, a small-scale nuclear battery developer, raised $20 million in Series A funding led by Tribe Capital. The company hopes to use its new capital to scale up production of its battery which can power spacecraft and undersee technology for years.
#4. $24 million, April 13
Cybersecurity company Prelude raised $24 million in a Series A funding round led by Sequoia Capital. These fresh funds will be used to accelerate the development of Prelude’s testing platform, which uses “safe, proactive cyberattacks” to harden organizations’ security defenses.
#3. $25 million, April 27
Privacy-enhancing technology company Enveil raised an oversubscribed Series B funding round of $25 million. The round was led by USAA and will be used to expand Enveil’s foothold in the public and private sectors. This funding round brings the company’s total capital raised to more than $40 million.
#2. $65 million, April 26
GetUpside, a cash back retail technology company, rebranded as Upside last month. Alongside the rebranding announcement came $65 million in equity financing. The funding round skyrocketed Upside’s valuation to $1.5 billion. The new capital will be used to expand its team, launch into new retail categories and invest in product development.
#1. $130 million, April 27
Cavnue, a company building automated vehicle road networks, raised $130 million in Series A funding led by Sidewalk Infrastructure Partners and Ford Motor Company. The funding will go toward development acceleration, new hires and hitting pipeline execution.