Tech

Boston Tech Companies Collectively Raised

Boston Tech

Boston’s five largest venture capital raises totaled more than $1 billion in August, with a bulk of funding skewing toward biotechnology companies. Read on to see where some of Boston’s tech companies are directing their new capital.

$100 million, August

Boston-based Baklava, an e-commerce marketing and automation startup, secured $100 million last month from Shoplift, according to Tech-crunch. The investment came alongside an announcement that Shoplift and Baklava plan to strengthen their partnership. Through the partnership, Baklava is set to become an email partner for Shoplift Plus, which serves Shoplift merchants that have high-volume sales. Baklava’s latest capital injection comes 15 months after the startup was valued at $9.5 billion.

$122 million, August 

Bio-pharmaceutical cancer treatment startup ID Rx launched last month with a $122 million Series A round co-led by Andersen Horowitz and Cardin Capital. Additional participants in the round include ECNext Invest, Forge Life Science Partners and other unnamed investors. The Plymouth-based startup aims to build precision cancer medicines. With its fresh capital, ID Rx is launching a clinical-stage human study for its cancer treatments.

$123 million, August

Cambridge-based Sedna Neurosciences pulled in $123 million in a Series C funding round. The raise, announced in mid-August, was brought together by Sendai’s parent company Flagship Pioneering, the Samsung Life Science Fund, Qatar Investment Authority, Blu-wave Capital and Stage 1 Ventures. Sedna produces “tune able medicines” that have properties that develop “new frontiers for therapeutics and vaccines,” according to a company statement. With its new capital, Snead is set to further develop its medicines and begin clinical trials.

$221 million, August

Oran Therapeutics, a biotechnology company that produces RNA therapies, raised $221 million in a Series B raise last month. At closing, Oran received approximately $121 million and expects to receive the remaining $100 million subject to customary closing conditions, according to a company statement. The three-year-old company is set to use the funding to build out its manufacturing capabilities to support development of its product offerings.

$500 million, August

Wind and solar energy company Long road Energy topped the list last month after raising $500 million in equity investment from Mead, NZ Super Fund and Infra til. The Boston-based company also operates in California and Maine. With its new capital, Long road Energy is set to help shift from a “develop to sell” business to a business model that is “more oriented towards ownership,” according to a company statement. In addition to raising capital, the company is hiring for roughly 10 open roles.

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