Infinitum Electric Snagged $80M, FirstClose Got $35M, and More Austin Tech News

Catch up on the latest Austin tech news and see who’s hiring.

Written by Jeff Rumage
Published on May. 23, 2022
Infinitum Electric Snagged $80M, FirstClose Got $35M, and More Austin Tech News
Photo: FirstClose / Facebook
Photo: FirstClose / Facebook

Austin’s tech scene continues to innovate, with everything from air-core motors to a “recommerce” marketplace for furniture and other oversized items generating headlines this past week. Catch up on the latest tech news with the Built In Austin weekly refresh.

FirstClose closed a $35M raise. Austin fintech startup FirstClose provides underwriting workflow automation technology, point-of-sale software and data services for the U.S. home equity and mortgage markets. The company leverages property data intelligence, industry-leading partners and groundbreaking technology to enable lenders to compete for and close consumer loans.  [Business Wire]

CertifID raised $12.5M. CertifID’s SaaS platform aims to prevent wire fraud by verifying all parties involved in a given wire transfer. The company will use its fresh funding to double its 30-person team to about 60 or 65 employees. To adjust to the expected growth, CertifID is in the process of signing a lease for a new Austin office on South Congress Avenue, near Cosmic Coffee. [Built In Austin]

Austin Tech Quote of the Week

“As industrial equipment, cars, aircraft and buildings are rapidly electrifying, our revolutionary motor systems offer a path forward to reduce electricity demand and carbon footprint.” — Ben Schuler, founder and CEO of Infinitum Electric

Infinitum Electric gained $80M. The creator of the breakthrough air-core motor will use the Series D investment to vertically integrate and automate the production of its motors for the commercial and industrial market segments. The company will also complete the development and commercialization of a traction motor that can extend the power range of electric vehicles. [Business Wire]

FloorFound pulled in $10.5M. Austin startup FloorFound helps direct-to-consumer furniture companies resell returned, lightly used or unboxed items by picking up the product, inspecting it, stocking it at a warehouse and then selling and delivering it to its new owner. The company will use this funding to double its workforce, expand its logistics network and accommodate other oversized returns, such as mattresses, appliances and exercise equipment. [Built In Austin]

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