Patriots’ Payday: GMZ, Localytics, and SilverRail Raise Financing Rounds
It wouldn’t be Monday in Boston without a slew of startup financings. On Patriots’ Day, no less—no curbside trash pickup, but plenty of new money to go around in the fields of mobile, travel, and cleantech.
—Waltham, MA-based GMZ Energy, a developer of thermoelectric materials and products, has raised $7 million in equity financing out of a $13 million offering, according to an SEC filing. Investors in the round weren’t disclosed, but the company’s website says it is supported by Kleiner Perkins Caufield & Byers and strategic corporate investors. GMZ (not to be confused with DMZ or TMZ) was founded in 2006 based on materials science research at MIT and Boston College. The company is focusing on applications in refrigeration, air conditioning, and converting heat (from waste or solar) to electricity.
—Cambridge, MA-based mobile startup Localytics announced today it has closed a new financing round led by existing investors Launchpad Venture Group and New York Angels, with new investor Hub Angels also participating. TechCrunch reported the size of the deal to be $2.5 million. Localytics, whose software helps mobile developers track usage of their apps across different devices, raised $700,000 in seed money about a year ago.
—Woburn, MA, and London-based SilverRail Technologies, an online travel search-and-ticketing startup focused on the European railway market, has raised $5 million in equity financing, according to an SEC filing last week. Investors in the new round weren’t disclosed, though Charles Lax, James White, Cheryl Rosner (from Expedia and BuyWithMe), and Brad Gerstner (from NLG, Orbitz, and Room 77) are listed as directors on the form. Founder and CEO Aaron Gowell told me recently that the company has moved most of its executive operations to the U.K., but its development team is still in the Boston area. SilverRail raised a $9 million Series A round last summer from investors including Sutter Hill Ventures, GrandBanks Capital, PAR Capital, and Brook Ventures.
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