What Tech, Cleantech and Healthtech Startups Received Funding in May 2021?
A few months ago, the New Jersey Economic Development Authority (NJEDA) unveiled a new web page that shows the funding that has been received by New Jersey startups at all stages of growth, as well as the mergers and acquisitions that have been happening all over the state.
There is more investment listed on this website than most of us in the New Jersey tech community are aware of, and it’s good to see how many startups in the Garden State are receiving backing from angels and venture funds. Most of these investments come from out-of-state angels, venture funds, family offices, etc.
NJTechWeekly.com has decided to publish the angel and VC investment information in tech, healthtech, cleantech and other tech-related companies from the previous month, once a month. This article includes the startup funding for May 2021.
This is a useful place for entrepreneurs to see which investors are funding companies like theirs, and for them to learn the scope of that funding. For those interested in economic development, remember that these are the companies that will likely be hiring in New Jersey.
All the information, including the listings on biotech and pharma companies, is available on the Angel and VC Investments website, here. As the NJEDA says, the list isn’t meant to be exhaustive.
The listings of the deals are compiled from outside sources, including Pitchbook and Crunchbase, as well as other sources that are available to the public. The NJEDA has marked with an asterisk the companies that it has helped. If we have covered the company’s newest funding round, we’ve added a link.
Company: Axtria
Location: Berkeley Heights, New Jersey
Sector: Analytics, Big Data, Cloud Data Services, Life Science | Axtria is a big data analytics software and services company for the Life Sciences industry.
Deal synopsis: Axtria announced on May 13th that the company had raised $150 million in venture funding.
Investor(s): Bain Capital Tech Opportunities, Helion Venture Partners, Richard Braddock, Deshpande Foundation, Fred Khosravi
Pitchbook Profile page: https://pitchbook.com/profiles/company/61039-00
News Release: Axtria Secures $150 Million Growth Investment from Bain Capital Tech Opportunities
NJTechWeekly.com: https://njtechweekly.com/interview-with-jassi-chadha-whose-berkeley-heights-life-sciences-software-company-axtria-recently-raised-150-million/
Company: Transcend Software
Location: Princeton, New Jersey
Sector: Environmental Engineering, SaaS, Software | Transcend is SaaS provider of engineering automation tools to the global engineering, construction, technology/OEM, and utility sectors
Deal synopsis: Transcend Software announced on May 12th the company had raised $10 million in venture funding.
Investor(s): International Finance Corporation, Idinvest Partners, HG Ventures, CITIC Capital Holdings, Aspen Capital Group
Pitchbook Profile page: https://pitchbook.com/profiles/company/437596-84#overview
News Release: Transcend raises $10m for SaaS water design platform
Company: Fleeting
Location: Kearny, New Jersey
Sector: Logistics, Supply Chain Management, Transportation | Fleeting is a digital network of freight and trucks open to over 3.5M drivers across America.
Deal synopsis: Fleeting announced on May 10th that the company had raised $500,000 in seed funding.
Investor(s): HATCHER+, Quake Capital Partners, Lockstep Ventures, Bay Wharf Capital, Kyrie Irving
Pitchbook Profile page: https://pitchbook.com/profiles/company/268024-24
News Release: Fleeting, a Black-Owned Commercial Trucking and Fleet Management Company, Receives $500,000 Investment from NBA Star Kyrie Irving and New Fund Lockstep Ventures
Company: Hostify
Location: Jersey City, New Jersey
Sector: Blockchain, Cryptocurrency, Internet of Things | Hostify is a LoRaWAN gateway distributor that focuses on building decentralized internet for low-powered sensors and smart devices.
Deal synopsis: Hostify announced on May 1st that the company had raised $75,000 in pre-seed funding.
Investor(s): N/A
Pitchbook Profile page: N/A
News Release: N/A
Company: Helix Wireless
Location: Kearny, New Jersey
Sector: B2B, B2C, Internet of Things, Telecommunications | Helix is a B2B and IoT MVNO delivering a global cellular connectivity to consumers and businesses of all sizes.
Deal synopsis: Helix Wireless announced on May 26th that the company had raised an undisclosed amount of seed funding.
Investor(s): Ray Padron
Pitchbook Profile page: N/A
News Release: N/A
