From Funding to Fabrics, This Week’s Boston Tech Highlights
This week in Boston’s technology scene, we’re tracking new capital for startups, executives on the move, a local fintech company’s foray across the pond, and Staples’ unexpected move to bring more people into its stores. Read on for details.
—RiskRecon snagged $3 million in a seed funding round led by General Catalyst Partners. The Boston-based startup assesses businesses’ software security, looking for places where it’s at risk of cyber attacks.
—MIT is leading a group of colleges and businesses focused on developing advanced fabrics and textiles for wearable devices and other innovations, as well as coming up with better ways to manufacture and supply such products. The group won a national competition to host the initiative, dubbed Advanced Functional Fabrics of America, and the program will receive $75 million in federal funds, up to $40 million from the state, and other funds from the private sector that could bring the total to more than $300 million, the Boston Globe reported.
—Nutonian, a Somerville, MA-based data analytics software company, has named Jeff Dickerson as its chief executive. Founding CEO Michael Schmidt will shift to the role of CTO, according to a press release. Nutonian also announced that Accomplice partner Chris Lynch, whose firm has backed Nutonian, is now its board chair.
—.406 Ventures co-founder Larry Begley has left the firm to become chief financial officer of Boston-based CloudHealth Technologies, which is backed by .406. Before helping start the venture capital firm, Begley served as CFO of CCBN.com, i-Cube, Razorfish, and Boston Consulting Group.
—Boston-based payments app startup Circle launched in the U.K. on Wednesday and announced a partnership with Barclays, the first major British bank to team up with a digital money company, Reuters reported. The endorsements from Barclays and the British government are seen as significant moves because Circle’s software sometimes uses bitcoin blockchain technology.
—Staples is opening co-working spaces within some of its stores, starting with outlets in Danvers, Norwood, and Brighton, MA. The office supplies company tapped co-working space operator Workbar to run its shared spaces, which will rent out about 2,500 to 3,500 square feet in each location.