Pax8’s Latest Acquisition, Meati Got $50M, and More CO Tech News

July 12, 2021
photo: pax8

Companies on the Colorado tech scene are taking huge steps to grow their business and improve the world we live in. Read on to learn the latest developments from the Centennial State. This is the Built In Colorado weekly refresh.

Meati Foods raised $50MProducer of fungi-based meat substitutes, Meati closed on a fresh injection of Series B capital led by BOND. It’s planning to ramp up production at its new facility in Thornton, as well as double the size of its current 40-person team. It anticipates launching its product in 2022. To date, the startup has raised a total of $127.1 million in venture funding. [Built In Colorado]

Pax8 acquires Resello, eyes international growthThe IT software company is growing fast as it’s been responding to increased customer demand for its services. It recently doubled the size of its team to 850 across the U.S. Now, the Greenwood Village-based company plans to build out its international presence with strategic acquisitions. These include cloud services company Resello, which it announced last week, and cloud hosting and consultancy company Sea-Level Operations. Pax8 last raised a $96 million round in January. [Denver Business Journal]

Colorado Tech Quote of the Week

“One way that we can help is by letting businesses know that their customers care about this and help informally enforce some of the ordinances and laws that are coming through. Versus getting a slap on the wrist from the government, customers can [provide feedback]. From a more macro level, consumers are really influencing businesses and businesses influence legislation and the law. And so we hope to provide more of a basis that consumers care about this, and businesses should care about this.” —Jess Lybeck, CEO and co-founder of Remark

Colorado tech startups are taking steps toward sustainabilityAmid a just-passed statewide ban on disposable bags and containers, Colorado tech companies are working to make reduced single-use plastic consumption the norm. From single-use material monitoring app PlasticScore to restaurant sustainability tracker Remark, a variety of startups are putting in effort to keep the Colorado plains, and the rest of the world, green. [Built In Colorado]

ColdQuanta reached a milestone in quantum computingThe Boulder-based company said that it was able to trap and address 100 qubits, which are the basis of quantum computing, in a large, dense 2-D cold atom array. The company will use this tech in a quantum computer codenamed “Hilbert.” ColdQuanta expects Hilbert to be available for cloud customers by the end of this year or early 2022. The company raised $20 million in fresh funding in May. [GlobeNewswire]

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