Growthink Capital Research tracked $3.94 billion in new venture funding in April 2023 compared to $4.59 billion in March 2023.
The month’s biggest funding event belonged to Ohmium ($250 million) an electrolyzer product built on proton exchange membrane electrolyzer technology intended to create a sustainable way of life enabling clients to achieve maximum value in their industrial, transportation, and energy projects.
12 companies raised $100 million or more in April. Other than Ohmium, the other companies that raised the most are as follows:
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Covariant ($222 million) an AI-based robots and software designed to create a roadmap and deploy robotics across operations enabling clients to program a robot by simply donning a VR headset and guiding a robot through a task.
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CoreWeave ($221 million) a cloud infrastructure platform intended to provide computing resources for blockchain and other projects enabling clients to scale efficiently and adapt to rapidly evolving compute requirements.
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HeartFlow ($215 million) a cardiac diagnostic platform designed to transform the diagnosis and management of coronary artery diseases enabling clinicians to treat patients with significant coronary artery disease while reducing unnecessary invasive testing.
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Kite ($200 million) a commerce platform intended to simplify the complex commerce journey of entrepreneurs seeking to build successful brands enabling entrepreneurs to intelligently scale their brands.
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TORL BioTherapeutics ($158 million) a drug development company intended to accelerate pre-clinical drug discovery enabling researchers to develop proprietary drugs with unique and optimized profiles.
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Noah Medical ($150 million) a medical robotic devices designed to diagnose and treat patients across multiple indications enabling hospitals to treat patients early and save lives while leaving minimal scars behind.
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ID.me ($132 million) an identity platform designed to make group affiliation verification easy and secure enabling military, students, first responders, teachers, and government employees to easily prove their identity online via a single login and avail discounts on various networks.
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Tonal ($130 million) a digital fitness platform designed to deliver a smooth weight-lifting experience using magnets and electricity enabling users access to full-body fitness at home from legs to chest without the hassle of changing machines.
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Altruist ($110 million) a digital investment platform designed to help financial advisors serve their clients enabling advisors to help clients to make proper and informed choices with their money.
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MedShift ($108 million) a medtech company designed to deliver a platform as a service to both medical device manufacturers as well as individual medical practices in the aesthetic device market enabling doctors to get real-time visibility, remote management and big data modeling of entire medical device lineups.
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Pinecone ($100 million) a vector database platform intended to deploy complex machine learning applications at scale and with ease enabling developers to transform, search and rank billions of high dimensional vectors in milliseconds.
The hottest sectors for funding during the month were Cybersecurity, Healthtech, A.I./Machine Learning, Biotech, and Business/Productivity Software.
Key funding events in each of these sectors for the month are below:
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Cybersecurity deals included Halcyon ($50 million), Safe Security ($50 million), SpecterOps ($25 million), Strivacity ($20 million), Netrise ($8 million), Sonet ($6 million), Mobb ($5.4 million), and AaDya Security ($5 million).
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Healthtech deals included HeartFlow ($215 million), MedShift ($108 million), Cortica ($75 million), VintaBio ($64 million), Memora Health ($30 million), Scene Health ($17.7 million), BlueMark ($10 million), and MedArrive ($8 million).
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A.I./Machine Learning deals included Pinecone ($100 million), Pagaya ($75 million), DeepHow ($14 million), ALICE Technologies ($13 million), Cardinality ($12.5 million), aiXplain ($8 million), and Customers ($5 million)
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Biotech deals included TORL BioTherapeutics ($158 million), Adcentrx Therapeutics ($38 million), Aer Therapeutics ($36 million), Pattern Bioscience ($28.7 million), Epic Sciences ($24 million), and CTRL Therapeutics ($10 million).
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Business/Productivity Software deals included Teamworks ($65 million), NetBox ($20 million), Spendflo ($11 million), AirOps ($7 million), Trustle ($6 million), and Field Materials ($4.6 million).
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