Last month, tech startups across the Centennial state grabbed fresh rounds of venture funding to put toward their products and initiatives. These five companies raised the Colorado tech industry’s largest rounds in May. Find out how they’re investing their new capital.
#5. $15 million, May 10
This company provides businesses with a self-service advertising platform. Choozle is gearing up for growth having found that businesses are investing more in their digital advertising this year than they did in 2020. It raised a Series C round led by Boathouse Capital that will go toward investing in its product. The Denver-based company is also hiring for several roles on its team across engineering and more.
#3 (tied). $20 million, May 12
Based in Boulder, its tech allows engineers to alter the composition of atoms to build necessary parts for purposes like computing, timekeeping or communications. ColdQuanta’s latest funding round saw participation from investors like Foundry Group, LCP Quantum Partners and Maverick Ventures, and, with the new capital, the company is looking to commercialize its tech and advance its hiring initiatives.
#3 (tied). $20 million, May 19
With big company growth plans, the Denver-based construction operations company raised a Series B funding round from investors including Fifth Wall. Its tech mainly helps those working on railway lines, at water treatment facilities and the like with managing their field operations. With its new cash, Assignar is looking to onboard 100 employees this year and furthers its product and R&D efforts.
#2. $40 million, May 26
Specializing in selling used bikes and their components, the Boulder-based retailer pulled in its largest round of funding to date with plans to grow its headcount and develop new tech solutions for its customers. The Pro’s Closet offers a wide variety of bikes from mountain bikes to e-bikes to cyclocross bikes. It’s also tentatively looking to expand its presence into new regions.
#1. $130 million, May 3
The Louisville energy company develops all solid-state rechargeable batteries for EVs. Backed by the Ford Motor Company, the BMW Group and Volta Technologies, Solid Power is planning to invest its Series C funding in producing full-scale car batteries, increase its material output and expand its in-house production capabilities. The company also welcomed new board members Ted Miller and Rainer Feurer from Ford and BMW respectively.
