Dallas Venture Deals

December 2023

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Dallas is Rising…

Welcome to the sixth edition of Dallas Venture Deals. We hope everyone had a wonderful end of 2023 and we wish you all a prosperous 2024! We are grateful for your engagement and want to maintain the momentum. You may have noticed, Dallas is having a moment. It's quickly becoming Wall St of the South attracting major financial institutions including Goldman Sachs' new corporate campus in the heart of Downtown Dallas. Here's to continued growth in our region and may it catalyze more entrepreneurs to start businesses, investors to take risks backing our regions builders, and create a flywheel to propel Dallas to new heights. Notably in 2023, Dallas surpassed Atlanta, Chicago, and Miami for the amount of venture funding raised by companies (source: CBINSIGHTS State of Venture 2023). While the venture market in 2023 broadly decreased in both deal volume and amount raised, DFW founders persevered. We commend the builders and allocators and wish you all the very best for the upcoming year. Cheers to the future of DFW startups!

US VC Markets: Ranked By Funding Amount

Venture Deals

DFW-Based Company Fundings - December

Firehawk Aerospace (Dallas, TX), a market leader in hybrid rocket engine and solid rocket motor (SRM) propulsion, announced a new round of funding from Cubit Capital (Dallas, TX), Decisive Point, and 1789 Capital.
Harbor (Dallas, TX), a platform helping parents improve their little one’s sleep, raised an undisclosed amount of venture funding from Carnrite Ventures.
Mayweather Fitness (Plano, TX), a fitness and technology licensing company co-founded by Floyd Mayweather, has raised over $3M of equity crowdfunding via Republic.
nVenue (Dallas, TX), a predictive analytics and micro-betting technology firm, received investment from the NBA.

DFW-Based Investor Transactions - December

Al Bawardi Group (Grand Prairie, TX) participated in the $5.85M Seed round for Omniful (Riyadh, KSA), a supply chain and e-commerce enablement company. The round was led by VentureSouq, with participation from 500 Global, DASH Ventures, Jahez Group, SEEDRA Ventures, Bunat Ventures, Hala Ventures, RZM Investments, Al Rasheed, Siraj Holding, and Al Nafea.
Beyond Capital Ventures (Dallas, TX) participated in $19.5M venture funding for Ampersand (Kigali, Rwanda), Africa’s first and leading integrated electric motorcycle and transport energy solution. The round was led by The Ecosystem Integrity Fund with participation from Alphamundi VC, Societe Petrolieres du Rwanda and TotalEnergies. Of the total amount, $7.5M is in the form of debt provided by Africa Go Green Fund (managed by Cygnum Capital).
Blossom Street Ventures (Dallas, TX) led a $3.68M investment in Autocorp.ai (Ottawa, Ontario), an automotive fintech company specializing in virtual retail and commerce technologies.
Blossom Street Ventures (Dallas, TX) led a $4.2M investment in Bucketlist (Vancouver, B.C.), an employee rewards and recognition platform. Additional participants include Channel Equity & THCapital.
Cubit Capital (Dallas, TX) participated in the recent funding round for Firehawk Aerospace (Dallas, TX), a market leader in hybrid rocket engine and solid rocket motor (SRM) propulsion. Additional investors include Decisive Point & 1789 Capital.
Cubit Capital (Dallas, TX) participated in $3.3M Seed Round for Forte (Baltimore, MD), a mental wellness platform connecting employees with unlimited access to certified Guides. The round was led by AlignPact with participation from Fairbridge Park and Sovereign’s Capital.
Cubit Capital (Dallas, TX) and Mark Cuban (Dallas, TX) participated in the $173M Series C for Gecko Robotics (Pittsburgh, PA), an industry leader in AI-powered software and advanced robotics to maintain and build the world’s most important physical infrastructure. The initial $73M tranche (March ‘22) was led by Drive Capital. The $100M extension was led by Founders Fund and US Innovative Technology Fund.
Mack & Co. (Dallas, TX) participated in the $138M Series D for Ursa Major, America’s leading privately funded company focused solely on rocket propulsion. The round was led by Explorer 1 Fund and Eclipse and included RTX Ventures, BlackRock, Exor Ventures, LLC, XN, and other institutional shareholders.
ProFrac Holdings (Willow Park, TX) participated in a $2.5M funding round for Digital Wildcatters (Houston, TX), a provider of a community platform for energy professionals. The round was led by Chuck Yates with participation from Diamondback Energy, and other angel investors.
Plutus21 Capital (Dallas, TX) participated in $1.6M funding round for CodeNinja (Lahore, Pakistan), a technology solutions provider.The round was led by sAi Venture Capital.