Business growth on the Austin tech scene is off the charts after last week’s new moves. With plenty of fresh funding and a plethora of brand new startups, read on for the latest. This is the Built In Austin weekly refresh.
Tesla is building a solar-powered neighborhood. Working to establish an energy-neutral and sustainable community, the tech company is outfitting residential homes in Easton Park with its V3 solar roof tiles and Powerwall 2 battery storage. Tesla has established a partnership with Brookfield Asset Management and Dacra to make this vision a reality. [Built In Austin]
Foundry got $100M. Backed with its new equity funding from LightBay Capital and Monogram Capital Partners, Foundry is set to acquire more small- and medium-sized brands in the e-commerce space. It’s also investing in hiring new talent and deploying its data-powered software to help those brands grow. [Business Wire]
Austin Tech Quote of the Week
Gembah pulled in $11M. The company provides SMBs with an end-to-end product development solution. Its machine learning-powered software connects businesses to expert resources. Gembah plans to double its 70-person team, triple its engineering headcount and further build out its platform. The Series A was round led by ATX Venture Partners. [Built In Austin]
Billd raised $30M. Billd helps contractors in the construction industry finance the materials they need sooner, enabling them to more efficiently grow their business. Now, with its Series B funding, the company is equipped to grow its current product, look into potential acquisitions and partnerships as well as launch new products. It’s also planning to hire about 20 new team members by the end of the year. LL Funds led the round. [Built In Austin]
hOp secured $8M. Offering a community networking platform, the company now boasts a total of $19 million in total funding after its Series A round led by Qubit PE’s Neil Ramsey. hOp enables multifamily real estate property residents to connect for favors, community discussions and more. It’s planning to invest in its intellectual property and increase the size of its team by 50 percent by year’s end. [Email]
These startups could pave the way for Austin tech. With their sights set on big time growth in the coming years, five early-stage Austin-based companies are hard at work innovating new solutions for a variety of industries. Featured this quarter are digital content site Blended Sense, accessible e-learning platform Clusiv, virtual speech therapy platform Expressable, fitness trainer Kanthaka and hair care startup Remane. [Built In Austin]
