VC funding update: Which Boston-area startups raised money in July?

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August 01, 2022

Venture capital funding to Greater Boston startups fell in July compared to the previous month. By our count, startups brought in around $939 million in July. Last month, we recorded $2.7 billion in funding. In May funding was $616.25 million and April was $1.84 billion.

report by PitchBook found that venture capital funding to Massachusetts companies in the first half of 2022 fell 30% compared to the same time period in 2021.

Manufacturing startups stole the show this month, bringing in $421.55 million in venture capital. Biotech startups came in second, raising $294 million. This was followed by software companies with $145.9 million.

Check out all the deals, including links to our coverage or the company’s announcements.


A Cambridge startup, SiTration, that is pioneering new separation processes for materials extraction announced it has raised $2.35 million in pre-seed funding led by Azolla Ventures with participation from the MIT-affiliated E14 Fund.

Atlantic Quantum announced a $9 million seed round led by MIT’s The Engine. The company, which is co-located in Cambridge and Gothenburg, Sweden, is developing scalable quantum computers.

Boston Micro Fabrication, which specializes in micro-scale 3D printing systems, closed a $43 million Series C round. The round was led by Shenzhen Capital Group Co.

Waltham-based Finwave Semiconductor Inc. raised a $12.2 million Series A round led by Fine Structure Ventures. The company said the funds would be used to expand its team, product development activities and lab facilities.

Burlington-based VulcanForms announced a $355 million fundraise, putting its valuation over $1 billion. The company uses additive manufacturing, machining and assembly services to produce custom parts that go into products like the F35 Joint Strike Fighter, medical implants and semiconductors.


Worcester-based, a product engagement company, completed a $5.2 million Series A round. Blustream plans to use the funds to build out its platform, expand into new product industries and hire for its sales and marketing teams.

AI startup FeatureByte launched today with a $5.7 million seed round led by Glasswing Ventures and Tola Capital. The company is building a SaaS tool for data scientists to simplify the creation, serving, managing, and monitoring of machine learning features.

Hybrid workplace company Robin announced a $30 million Series C funding round led by Tola Capital. The company’s technology helps users plan their workdays around in-person meetings, online video calls, and communication across platforms, whether working from home or in an office.

Boston’s Merlin Labs, which develops autonomous flight technology for fixed-wing aircraft, raised a $105 million Series B round from Snowpoint and Baillie Gifford. That brings the company’s funding to $130 million. Merlin Labs also has a new partnership with the United States Air Force.


Gene therapy company Frontera Therapeutics has raised a $160 million Series B round. The company’s investors include Boyu Capital, Sequoia China, OrbiMed and Creacion Ventures. Frontera is co-located in Bedford and Suzhou, China.

The Cambridge-based startup Camp4 Therapeutics Inc. has raised $100 million to push its two lead programs into clinical trials.

Animol Discovery Inc., a Boston veterinary pharmaceutical company, raised a $34 million Series B financing. The round was led by Novalis Lifesciences.


Boston-based Bento, a tech-driven dental insurance company, raised an $8.1 million Series A round. Its new investors include Schooner Capital and York IE.

Wellness app company Wysa raised $20 million in Series B funding. Wysa has offices in Boston, London and Bengaluru.

AI health care software startup Diagnostic Robotics raised $45 million in a deal led by StageOne Investors.


Electrified Thermal Solutions, a Medford-based renewable heat company, announced a $4.5 million financing. The round was co-led by Clean Energy Ventures and Starlight Ventures.


Boston-based Silversmith Capital Partners closed a new $1.25 billion fourth fund.

This article first appeared on Bostinno

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