Rounded Weekly – Daily Edition: 29 May 2024
The daily edition of Rounded Weekly for 29 May 2024. A round-up of the top 10 closed startup rounds for the day, with the day's top news at the bottom.
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If you’re new around here, my intention of Rounded Weekly is to bring you the hottest rounds closed weekly (and now with a daily edition). Think of it as a personal Crunchbase, but for the rounds you actually care about. I want to make sure you’re as in the loop as possible, whether it’s for watercooler talk, identifying market trends, or just staying in the know.
Today’s list:
1. Alarm.com
Funding Type: Post-IPO Debt
Amount Raised: $425 Million USD
Alarm.com is a technology company that provides cloud-based services for remote control, home automation, and monitoring of residential and commercial properties. Founded in 2000, Alarm.com offers solutions that integrate security, video monitoring, energy management, and automation into a single platform. The funds from their Post-IPO Debt round will support further expansion and enhancement of their product offerings.
Something I like about them: Alarm.com's comprehensive approach to home automation and security is impressive. Their integrated solutions provide peace of mind and convenience to users, enhancing the overall quality of life.
2. CFG Merchant Solutions
Funding Type: Debt Financing
Amount Raised: $145 Million USD
CFG Merchant Solutions is a financial services company that offers flexible funding solutions to small and medium-sized businesses. Founded with the goal of supporting business growth, CFG Merchant Solutions provides merchant cash advances, business loans, and other financing options tailored to meet the needs of their clients. The Debt Financing round will help them expand their services and reach more businesses.
Something I like about them: CFG Merchant Solutions' commitment to providing flexible and accessible funding options is crucial for the growth of small and medium-sized businesses. Their support helps businesses thrive and achieve their goals.
3. Solutions by Text
Funding Type: Private Equity
Amount Raised: $110 Million USD
Solutions by Text is a fintech company that specializes in providing secure text messaging solutions for billing, payments, and customer engagement. Founded to enhance communication between businesses and their customers, Solutions by Text offers a range of services that streamline payment processes and improve customer experience. The Private Equity funding will support the development of new features and market expansion.
Something I like about them: Solutions by Text's focus on secure and efficient communication is highly beneficial. Their services help businesses improve customer engagement and streamline payment processes, enhancing overall efficiency.
4. Tidewater Midstream and Infrastructure
Funding Type: Post-IPO Debt
Amount Raised: $87 Million USD
Tidewater Midstream and Infrastructure is a Canadian energy company that focuses on the acquisition, development, and production of oil and natural gas assets. Founded in 2015, Tidewater Midstream aims to create value through strategic investments in midstream infrastructure and natural gas processing. The Post-IPO Debt funding will support the expansion of their infrastructure and operations.
Something I like about them: Tidewater Midstream's strategic approach to developing energy infrastructure is impressive. Their investments in midstream assets enhance energy production and distribution, contributing to energy security.
5. NWP Property
Funding Type: Debt Financing
Amount Raised: $53 Million USD
NWP Property is a real estate company that specializes in the development and management of retail properties. Based in Indonesia, NWP Property focuses on creating high-quality retail spaces that meet the needs of modern consumers. The Debt Financing round will be used to expand their property portfolio and enhance their existing developments.
Something I like about them: NWP Property's dedication to creating high-quality retail spaces is commendable. Their focus on meeting consumer needs ensures that their developments are vibrant and successful.
6. BlockDAG
Funding Type: Initial Coin Offering
Amount Raised: $34 Million USD
BlockDAG is a blockchain technology company that provides scalable and secure distributed ledger solutions. Founded to address the limitations of traditional blockchain systems, BlockDAG's technology offers improved scalability, security, and efficiency for various applications. The Initial Coin Offering (ICO) funding will support the development and deployment of their blockchain solutions.
Something I like about them: BlockDAG's innovative approach to blockchain technology is transformative. Their solutions enhance the scalability and security of distributed ledgers, driving the adoption of blockchain in various industries.
7. TraceAir
Funding Type: Series B
Amount Raised: $25 Million USD
TraceAir is a construction technology company that provides drone-based solutions for site monitoring and management. Founded to improve efficiency in construction projects, TraceAir's platform uses drones and AI to capture and analyze site data, helping project managers make informed decisions. The Series B funding will be used to enhance their technology and expand their market reach.
Something I like about them: TraceAir's use of drones and AI in construction management is highly innovative. Their solutions help improve project efficiency and accuracy, reducing costs and delays in construction projects.
8. Euler Motors
Funding Type: Series C
Amount Raised: $24.2 Million USD
Euler Motors is an electric vehicle (EV) manufacturer that focuses on developing sustainable and efficient commercial EVs. Based in India, Euler Motors aims to accelerate the adoption of electric vehicles in the logistics and transportation sectors. The Series C funding will support the production and deployment of their EVs, as well as the expansion of their market presence.
Something I like about them: Euler Motors' commitment to sustainable transportation is crucial for a greener future. Their innovative commercial EVs help reduce carbon emissions and promote clean energy in the logistics industry.
9. ADCendo
Funding Type: Series A
Amount Raised: $17.36 Million USD
ADCendo is a biotech company that focuses on developing targeted cancer therapies. Founded by experienced researchers in the field, ADCendo aims to create innovative treatments that improve patient outcomes and quality of life. The Series A funding will be used to advance their research and development efforts and bring their therapies to market.
Something I like about them: ADCendo's dedication to developing targeted cancer therapies is highly impactful. Their innovative treatments have the potential to improve the lives of cancer patients and advance the field of oncology.
10. Novel Capital
Funding Type: Seed
Amount Raised: $15 Million USD
Novel Capital is a financial technology company that provides revenue-based financing solutions for startups and small businesses. Founded to support the growth of emerging companies, Novel Capital offers flexible financing options that align with business performance. The Seed funding will be used to expand their financing products and reach more startups.
Something I like about them: Novel Capital's focus on providing flexible and performance-based financing is highly beneficial for startups. Their innovative approach helps emerging companies access the funds they need to grow and succeed.
Today’s Top News
Kino is a new iPhone app for videographers from the makers of Halide
US House bill would require national security reviews on connected vehicles from China
That's my selection of the top 10 rounds from today. Congratulations to all the teams behind these startups for their achievements! Be sure to check out their websites if you want to learn more. And to keep updated on the rounds, make sure you’re subscribed to Rounded Weekly.
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See you tomorrow 👋