Austin tech startups kept busy during the month of November, closing new funding rounds as they attempt to close the year out strong. Local tech companies ranging from software to alternative energy all raised new capital last month. The five largest funding rounds totaled $82.25 million in November.
Largest Austin Tech Funding Rounds, November 2022
- Infinitum
- Way
- EngFlow
- AMFG
- Prado
#5. Prado: $5.75 million, November 21
Co-founded by Jon Carter, Prado is an e-commerce and logistics platform that helps meal kit delivery companies sell their products online and ship them to their customers. Last month, Prado raised $5.75 million in a seed round led by Bonfire Ventures. With the new funding, Prado plans to scale its team and platform.
#4. AMFG: $8.5 million, November 18
AMFG develops automation software for companies in the manufacturing industry, and it recently raised $8.5 million. With the new capital, AMFG said it will continue helping manufacturing companies, including 3D printing businesses, scale and automate their productions.
#3. EngFlow: $18 million, November 15
In mid-November, EngFlow closed an $18 million Series A round led by Tiger Global. EngFlow is a SaaS platform that helps software companies ship and deploy software by optimizing their cache processing. Prior to the recent funding, EngFlow had been on a talent hunt. The company recently brought on new talent from Brazel, including Jay Conrod and Ola Rozenfeld.
#2. Way: $20 million, November 1
Way is a travel startup that enables hotel companies to list and sell local tourist experiences on their websites. Last month, the company raised $20 million in a Series A round led by Tiger Global. This round also increased Way’s valuation to $100 million.
#1. Infinitum: $30 million, November 8
Infinitum, a sustainable electric motor company, raised $30 million in a funding round last month. The company manufactures air core motors that are smaller and use less energy than electric motors. With the new funding, Austin-based Infinitum will ramp up the production of its motors and expand its facility in Mexico.
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