Sea Machines raises $10 mln led by Accomplice

Boston-based Sea Machines Robotics, which develops autonomous control technology for marine vessels, announced that it has raised $10 million in Series A funding. Accomplice VC led the round, with participation from Toyota AI Ventures, Brunswick Corp, through its investment partner TechNexus Venture Collaborative, Eniac Ventures, NextGen VP and others. Sea Machines, founded in 2014, has now raised $12.5 million in funding.

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WhyHotel raises $10 mln led by Highland Capital

Washington, D.C.-based WhyHotel, which provides an alternative lodging service that operates pop-up hotels​ in newly, luxury apartment buildings, announced it has raised $10 million in Series A funding. Highland Capital Partners led the round, which included participation from Camber Creek, Revolution’s Rise of the Rest Seed Fund, Mendacre, MetaProp and Geolo Capital. The company, founded in 2016, previously raised $3.9 million in seed funding.

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VC-backed G2 Crowd acquires Siftery

Chicago-based G2 Crowd announced it has acquired Siftery, platform that helps businesses discover new applications based on stacks used by peer companies. San Francisco-based Siftery had previously raised $4.1 million from investors, including Felicis Ventures and Venrock, among others. Siftery’s 20 employees and co-founders, CEO Vamshi Mokshagundam and CTO Ayan Baruna, will join G2 Crowd. G2 Crowd operates a marketplace for businesses to buy and manage software and services, and in October raised $55 million in a Series C round led by IVP and has now raised $100 million in total funding.

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Fusion Fund launches in Ohio

Bounce Innovation Hub, Acquire Investments and JumpStart Inc announced the launch of Fusion Fund, a $20-million, for-profit venture fund aimed at growing companies in and around Ohio. The fund will make seed and early-stage investments in advanced materials, life sciences and tech companies located within a four-hour radius of Akron, Ohio.

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True Ventures’ latest fund follows year of successful exits

With 2018 shaping up as venture’s most robust fundraising year since the dot-com heyday, as the industry is nearing $50 billion in new commitments, there’s no shortage of stories of funds having successful raises. One of those firms is True Ventures, which in late October closed its sixth early-stage fund at $350 million and its third Select […]

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Firefly emerges from stealth with $21.5 mln in seed funding

San Francisco-based Firefly, which provides a digital advertising platform for rideshare drivers, emerged from stealth and announced it has raised $21.5 million in seed-stage funding. Funding was led by NFX, with participation from Pelion Venture Partners, Decent Capital (which is funded bu Tencent founders), Jeffrey Housenbold (of Softbank‘s Vision Fund), Cross Culture Ventures, Muse Capital, StartX and others. The company was founded in 2017.

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Ground transportation-focused Autotech seeks $225 mln for second fund

Menlo Park, California-based Autotech Ventures, is seeking to raise $225 million for its second fund, according to a regulatory filing. The firm said last year it raised $120 million for its inaugural fund. The firm is headed up by Managing Directors Alexei Andreev, Quin Garcia and Daniel Hoffer. Autotech Ventures focuses on connected, autonomous, shared and electrified vehicles and related mobility services.

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Google’s Gradient Ventures backs autonomous logistics company Wise Systems

Cambridge, Massachusetts-based Wise Systems, which develops autonomous dispatch and routing software for delivery fleets, announced it has raised $7 million in Series A funding. Gradient Ventures, Google’s AI-focused venture fund, led the round. Existing investors E14 Fund, Neoteny, Trucks Venture Capital and Fontinalis Partners also participated. The company, founded in 2014 by MIT and Harvard University graduates, has now raised $8.5 million in total funding.

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Underscore leads $11 mln funding in Forge.AI

Cambridge, Massachusetts-based Forge.AI, an artificial intelligence company that focuses on decoding unstructured information machine-learning ready data, announced it has raised $11 million in Series A funding. Underscore VC led the round, which included participation from Accomplice, Boston Seed Capital, Imagination Capital and Project 11 Ventures. The company was founded last year by CEO Jim Crowley, COO Jennifer Lum and CTO Jack Crowley.

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IVP’s Jules Maltz on the qualities to look for in a CEO

With IVP’s late-November investment in Deputy, the firm has invested in 15 companies in 2018. That ranks as a busy year for the late-stage investor. The firm backed 10 companies last year and eight in 2016. In addition, IVP, which last year raised $1.5 billion for its 16th and largest fund, reports that its portfolio […]

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Flipside Crypto adds Coinbase Ventures and Digital Currency Group as investors

Boston-based Flipside Crypto, which uses blockchain transaction data to analyze cryptocurrencies, announced it has added Coinbase Ventures and Digital Currency Group as investors. In addition, fintech entrepreneur Jeff Parker also joined the funding round along with current investors True Ventures, Castle Island and Boston Seed Capital. Flipside Crypto has raised $4.5 million to date. The company was founded in mid-2017 by CEO Dave Balter, Jim Myers and Eric Stone.

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IVP leads $81 mln funding of Deputy

Atlanta-based Deputy, provider of a workforce management software solution, has raised $81 million Series B funding. IVP led the round. Also participating are OpenView and Australian venture firms Square Peg Capital and EVP. Eric Liaw, general partner at IVP, has joined the board as part of the funding. Deputy was founded in Australia in 2008 and has now raised $106 million following a Series A round in early 2017.

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Mobile enterprise tools developer Eko raises $20 mln

Eko, provider of a mobile collaboration and communications platform for businesses, has raised $20 million in Series B funding. SMDV led the round, which included participation from RedBeat Ventures, AirAsia’s investment arm, as well as Gobi Partners, East Ventures and existing shareholders. The company, founded in Bangkok, Thailand, in 2012, also announced a European expansion with offices in London, Amsterdam and Berlin.

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Storm Ventures sets sights on sixth fund

Enterprise-focused, early-stage investor Storm Ventures is seeking to raise a sixth fund, according to a regulatory filing. The filing did not disclose a target amount. The firm’s current fifth fund closed at its hard cap of $180 million in 2015. Earlier this year, Storm Ventures added Paul Willard as a partner and has promoted Arun Penmetsa to partner, joining Managing Directors Ryan Floyd and Tae Hea Nahm.

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Real estate investing dropped in October

Venture investing in real estate and property tech companies dropped in activity and plunged in dollar volume in October, according to RE:Tech. The research organization reported deals decreased 20 percent to 36 in October from 45 in September. Meanwhile, the funding amount into real estate tech companies sank 76 percent to $661.4 million in October […]