Dallas Venture Deals

January 2024

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Dallas is Rising…

Welcome to the seventh edition of the Dallas Venture Deals newsletter. We hope everyone had a wonderful Thanksgiving! We are grateful for the responses, feedback, and engagement. Our goal remains simple: shine a spotlight on DFW’s venture capital activity, in a region where remarkable transactions often go unnoticed. Cheers to the future of DFW startups!

Venture Deals

DFW-Based Company Fundings - January

CheckSammy (Dallas, TX), a nationwide provider of on-demand, same-day bulk waste removal and bespoke sustainability services, announced a $45M strategic investment. The equity round was led by I Squared Capital, with Zero Infinity Partners participating. In addition, CheckSammy has entered into a growth capital and revolving credit facility with TriplePoint Capital, LLC.
CollateralEdge (Dallas, TX), a FinTech solution company that enables community and regional banks to structure competitive commercial loans, received investment from Phalanx Impact Partners.
Optym (Dallas, TX), a trailblazer in optimization solutions for the transportation industry, received strategic investment from Venture 53.
Roofer.com (Dallas, TX), a pioneering AI company in the roofing industry, raised a $7.5M Seed round led by Mucker Capital with participation from Soma Capital, HF0, Asymmetric Capital Partners, Alumni Ventures, HustleFund, The Council, GoAhead Ventures, Mirada Capital and several prominent angels such as the Founder and CEO of Mercury and the Founder and CEO of ParkHub.
UpSmith (Dallas, TX), a startup reimagining the future of skilled work, announced Boost, a software platform for workforce productivity and a $5M capital raise led by Hannah Grey VC, with participation from a16z, GSV Ventures, Asymmetric Capital Partners, Cubit Capital, TechNexus Venture Collaborative, Crow Holdings, Kimbel Mechanical, CIV, Crescent Ridge, and Karman Ventures, among other strategic individuals.

DFW-Based Investor Transactions - January

AT&T (Dallas, TX) participated in the $155M financing for AST SpaceMobile (NASDAQ: ASTS) (Midland, TX), the company building the first and only space-based cellular broadband network accessible directly by everyday smartphones. Additional investors include Google and Vodafone.
Avidity Partners (Dallas, TX) participated in the private placement in Immunic Therapeutics (NAS: IMUX) (New York, NY), a biotechnology company developing a clinical pipeline of orally administered, small molecule therapies for chronic inflammatory and autoimmune diseases. The financing is led by BVF Partners L.P., with participation from Janus Henderson Investors, Soleus Capital, RTW Investments, and Adage Capital Partners LP.
Crow Holdings (Dallas, TX) and Cubit Capital (Dallas, TX) participated in the $5M funding round for UpSmith (Dallas, TX), a startup reimagining the future of skilled work. The funding was led by Hannah Grey VC, with participation from a16z, GSV Ventures, Asymmetric Capital Partners, TechNexus Venture Collaborative, Kimbel Mechanical, CIV, Crescent Ridge, and Karman Ventures, among other strategic individuals.
Cubit Capital (Dallas, TX) participated in the $35M Series A-1 funding for Albedo (Denver, CO), a company offering aerial quality imagery from space. The round was led by Standard Investments with participation from Booz Allen Ventures, Bill Perkins, Breakthrough Energy Ventures, Shield Capital, Initialized Capital, Y Combinator, Giant Step Capital, Republic Capital, and others.
Cubit Capital (Dallas, TX), participated in the $95.5M funding round for Harbor Health (Austin, TX), a primary and specialty clinic group whose mission is to put the consumer at the center of their own health. The round was led by General Catalyst with participation from Alta Partners, 8VC, Health2047 Capital Partners, Martin Ventures, and Lemhi Ventures.
Cypress Growth Capital (Dallas, TX) invested $4M non-dilutive growth funding in Privy (Denver, CO), a real estate investment software company.
Eagle Venture Fund (Southlake, TX) led the Series A round for BankingON (Austin, TX), a provider of digital banking solutions.
Interwoven Ventures (Dallas, TX) participated in the $14.75M equity/debt round for Chef Robotics (San Francisco), a robotics and artificial intelligence company serving the food industry. Additional participants include MaC Venture Capital, MFV Partners, Alumni Ventures, Construct Capital, Kleiner Perkins, Promus Ventures, and Red and Blue Ventures.
Maverick Capital (Dallas, TX) participated in the $200M Series B for Silicon Box (Singapore & Las Vegas, NV), an advanced semiconductor integration service provider (bringing the company to over a $1B valuation. All three founders were investors in the round. Other investors include BRV Capital, Event Horizon Capital, Grandfull Convergence Fund, Hillhouse Capital, Lam Capital, Prasedium Capital, Tata Electronics, TDK Ventures, and UMC Capital.
Transition Capital Partners ("TCP") (Southlake, TX) announced the majority sale of its portfolio company, Petroflex (Gainsville, TX), a leading extruder of HDPE conduit and accessories.
What if Ventures (Frisco, TX) participated in the $55M Series A for Forta (San Francisco, CA), an AI healthcare company improving access to dependable quality care. The round was led by Insight Partners with participation from Exor Ventures, Alumni Ventures, founders of 23&Me, Curative, Forward, Flexport, Warby Parker, Prelude Fertility, Harry’s, and Allbirds.
What if Ventures (Frisco, TX) participated in the $14M Series A funding for Granata Bio (Boston, MA), a biopharma company focused on invigorating the $3.6 billion global infertility medication market. The round was led by Google Ventures with participation CooperSurgical, Gedeon Richter, Alumni Ventures, Amboy Street Ventures, Vibe Bio, and others.