Colorado companies spanning a variety of industries pulled in new funding last month. A biotech company raised capital for cancer diagnostics while a greentech company announced an investment for the production of a lithium-ion battery alternative. Keep reading for a closer look at how the Colorado businesses that pulled in October’s largest funding rounds are using their additional financing.
Top Colorado Tech Funding Rounds, October 2023
- Prins AI
- AgentSync
- Husk Power Systems
- AOA Dx
- Peak Energy
#5. $10 million, October 4
Peak Energy launched last month with a $10 million investment. The greentech company seeks to support the transition to renewable energy by manufacturing sodium-ion batteries as a safe, clean and cost-effective alternative to lithium-ion batteries. This capital will go toward product development and prepping for manufacturing operations.
#4. 17 million, October 11
Using its recent $17 million funding round, biotech startup AOA Dx plans to start developing its test for the early detection of ovarian cancer. Its liquid biopsy test, known as AKRIVIS GD, can potentially identify more ovarian cancer cases in stage I or II, compared to the current standards for diagnosis. The company says its technology could save lives since early cancer detection substantially increases survivability.
#3. $43 million, October 24
Husk Power Systems brings renewable energy services to businesses, homes and institutions in rural areas of Africa and Asia. The company secured $43 million in a Series D funding round to support its goal of getting 2,500 solar mini-grids installed across sub-Saharan Africa. The funding will also allow Husk to consider expanding into new markets. STOA Infra & Energy and the U.S. International Development Finance Corporation participated in the round.
#2. $50 million, October 26
Insurtech company AgentSync’s $50 million fundraise enables it to innovate its infrastructure solutions for insurance carriers, agencies and managing general agents, or MGAs. Its products cover key business functions such as compliance management, enabling data visibility and streamlining producer onboarding. This capital, co-led by Craft Ventures and Valor Ventures, brings AgentSync’s funding raised to date to $161 million.
#1. $100 million, October 2
Prins AI expects to put $100 million in Series B funding toward research and development efforts for its deep learning technology. It will also recruit new team members with the capital from lead investor AAB VC. The company uses artificial intelligence to power its digital identity training platform, which can be used to create digital human identities for generating video content. Producing educational videos, marketing content and internal corporate communications are some of the technology’s applications.
