Money, Money, Money: Funds for AI, Cryptocurrency & Other TX Startups
Welcome to part two of our roundup of innovation news from Xconomy Texas, featuring new investments in Lone Star State startups. (Click here for part one.)
—PullRequest, an Austin, TX, startup that uses artificial intelligence technologies to help coders find bugs in software before its launch, has raised $8 million in funding. The Series A round was led by Gradient Ventures, Lynett Capital, and Defy Partners, according to Austin Inno.
—Intangible Labs, a Princeton University-born cryptocurrency startup now based in Austin, has raised $125 million in commitments from investors such as Andreessen Horowitz, Bain Capital Ventures, and others for the future issuance of digital “tokens,” according to an SEC filing and a report from PitchBook. The startup has created Basecoin, a cryptocurrency that it says is designed to be more price-stable than others.
—OrderMyGear, a Dallas-based e-commerce company that has digitized the process of ordering and managing gear for sports teams, leagues, and other groups, has raised $35 million from Susquehanna Growth Equity. The company said that in 2017 it helped to facilitate about $200 million in sales from more than 100,000 stores and more than 2,000 team dealers, decorators, and athletic organizations.
—Student Loan Genius, which is also based in Austin, raised $4.7 million, according to an SEC filing. The startup, which sells employers tools to help their employees manage and pay down student debt, previously raised $3 million in seed funding, according to TechCrunch.
—Waterloo Sparkling Water has raised $4 million in debt funding, according to an SEC filing. The Austin-based sparkling beverage brand is backed by some big names in consumer goods. Waterloo’s advisors include Clayton Christopher, who co-founded Sweet Leaf Tea and Deep Eddy Vodka, which sold to Nestle and Kentucky liquor giant Heaven Hill, respectively, according to media reports.