Austin tech companies made exciting announcements last week, including new funding announcements. Catch up on VUV Analytics’ $20 million raise or read about the company using fungi for carbon capture. This is the Built In Austin Weekly Refresh.
VUV Analytics got $20M. The $20 million funding round was co-led by S3 Ventures and New Science Ventures and came after the launch of VUV Analytics’ new product. The company develops vacuum ultraviolet detector technologies that can provide chemical analysis for oil refiners. VUV Analytics has raised $36 million in funding since launching. [Global Newswire]
Smarter Sorting rebranded to SmarterX. SmarterX provides retailers and brands with product data to help them make sustainable decisions across their supply chains. Last year the company raised $32 million in funding and grew 3X. SmarterX was originally headquartered in Austin but kept a local workforce after relocating to Boulder last year. [Built In Austin]
Austin Tech Quote of the Week
“An entire galaxy exists below our feet, made up of millions of species of bacteria and fungi. These microscopic organisms have profound effects on forest growth and carbon capture that until now have been overlooked as a way to accelerate natural climate solutions while also restoring essential microbial biodiversity to our soils.” — Funga founder Colin Averill
Funga raised $4M. Funga is a carbon capture company that plants fungi in strategic locations to remove carbon from the atmosphere. Last week the company raised $4 million in a round led by Azolla Ventures. The new capital will be used to plant fungi on over 2,500 acres of land in the Southern U.S. [Built In Austin]
Logictry was featured in the Built In Future 5 Series. Logictry is an educational platform that provides interactable content on various subjects created by knowledge experts. Chris Fronda and Chelsea Toler co-founded the company in 2019. Logictry has since partnered with the United Nations to host a World Logic Day event. [Built In Austin]
