Dallas Venture Deals

March 2025

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Howdy folks,

Welcome to the 21st edition of the Dallas Venture Deals newsletter. Dallas is still having a moment and is earning its position of the Capital of Capital. With one quarter of investment data in, DFW continues to surpass expectations by way of capital raised here at home and invested across the country. We've attracted $892M in reported investments to our venture-backed companies, a number that took 3 quarters to achieve in 2024….and we're just getting started…. We’re not in the forecasting business (although the argument can be made that's exactly the business we're in) but if the current pace continues we're on track to top 2022's record post-COVID watermark of $3.2B.

From hydrogen tech to mama tech, and from billion-dollar browsers to a golf brand with a cult following, local startups drew serious attention—and serious capital. Island’s $250M raise at a $5B valuation proves Dallas can build at Silicon Valley scale, while homegrown names like Miracle Mama and WATTER remind us that innovation starts with local conviction.

On the investing side, DFW capital continues to punch above its weight. Hunt, Perot Jain, Goldcrest, Morrison Seger, and others were active across industries—from AI robotics in Austin to crypto payments in New York. The message is clear: Dallas isn’t just building companies—it’s backing bold ideas across the country.

It’s early in the year, but the tone is set. DFW is moving with purpose—and it’s only just getting warmed up. From a moment to a movement, godspeed DFW backers and builders. May the forces be with you.

Venture Deals

DFW-Based Company Fundings

Alkami Technology ($ALKT) (Plano, TX), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., announced launch of proposed $300M Convertible Senior Notes Offering.
DirectH2 (Dallas, TX), a hydrogen technology company, raised a Seed round from HL Energy Ventures, the spin-out of Hunt Energy’s technology venture business.
FreshRealm (Lancaster, TX), a producer of fresh meals for retailers, raised $15M million of venture funding from undisclosed investors.
Good Good Golf (Prosper, TX), a golf media and lifestyle brand, raised $45M of venture funding led by Creator Sports Capital with participation from Manhattan West, Sunflower Bank, Peyton Manning’s Omaha Productions, and 50+ additional global investors.
Island (Dallas, TX), the company that developed Enterprise Browser, an enterprise workspace for CIOs, CISOs, and end users, raised a $250M Series E at a $5B valuation, led by Coatue Management with participation from existing investors.
Miracle Mama (Dallas, TX), a fast-growing enterprise dedicated to supporting “mamas” through their breastfeeding and postpartum journeys, raised a $500K Seed round led by Morrison Seger Venture Capital Partners (Dallas, TX).
Perimeter Acquisition (Dallas, TX), a blank check company targeting the defense and national security sectors, filed with the SEC to raise up to $150M in an IPO (15,000,000 units at a price of $10/unit)
WATTER (Dallas, TX), a groundbreaking company reimagining compute efficiency through energy repurposing, raised a $5M seed round led by Hunt Innovative Technologies and 17Shoals Inc.

DFW-Based Investor Transactions

Alkami Technology ($ALKT) (Plano, TX) acquired MANTL (Jersey City, NJ), “the Shopify of account opening”, for $400M.
AT&T Ventures (Dallas, TX) participated in the $140M Series G for Aura (Boston, MA), the leading AI-powered online safety solution for individuals and families. The round was led by Ten Eleven Ventures and Madrone Capital and with participation from Accel, Warburg Pincus and General Catalyst.
Consensys (Fort Worth, TX) participated in the $82M Series B for Mesh (San Francisco, CA), the leading crypto payments network enabling seamless transactions with cheap and immediate conversions. The round was led by Paradigm, with participation from QuantumLight Capital, Yolo Investments, and others.
Exceller Hunt Ventures (Dallas, TX) and Green Park & Golf Ventures (Dallas, TX) participated in the $65M Series F for MicroTransponder (Austin, TX), a medical device company a company attempting to transform the stroke continuum of care with its US FDA-approved Vivistim paired vagus nerve stimulation (VNS) system. The round was led by US Venture Partners (USVP) with participation from Osage University Partners, Action Potential Venture Capital, The Vertical Group, Gilde Healthcare, and Longitude Capital.
Goldcrest Capital (Dallas, TX) participated in the $190M Series C for Peregrine Technologies (San Francisco, CA), a company developing software and capable engineering talent into the public safety domain. The round was led by Sequoia Capital with participation from current investors including Friends & Family Capital, Fifth Down Capital, OG Venture Partners, and Godfrey Capital.
Goldcrest Capital (Dallas, TX) participated in the $24.5M funding round for Rain (New York, NY), a startup focused on issuing Visa debit and credit cards that facilitate the use of stablecoins. The round was led by Norwest Venture Partners with participation from Galaxy Ventures, Thayer, Hard Yaka, Lightspeed Venture Partners, Coinbase Ventures, Vinyl Capital, Canonical Crypto, and Latitude Capital.
Hunt Innovative Technologies (Dallas, TX) co-led the $5M Seed round for WATTER (Dallas, TX), a groundbreaking company reimagining compute efficiency through energy repurposing. The round was co-led by 17Shoals Inc.
Morrison Seger Venture Capital Partners (Dallas, TX) led the $500K Seed round for Miracle Mama (Dallas, TX), a fast-growing enterprise dedicated to supporting “mamas” through their breastfeeding and postpartum journeys.
Perot Jain (Dallas, TX) and Morrison Seger Venture Capital Partners (Dallas, TX) participated in the $403M Series A for Apptronik (Austin, TX), the AI-powered humanoid robotics company. The round was led by B Capital and Capital Factory, with participation from Google, Mercedes-Benz, Japan Post Capital, ARK Invest, Helium-3, Magnetar, RyderVentures, a syndicate led by Korea Investment Partners, and others.
Sunflower Bank (Dallas, TX) participated in the $45M venture round for Good Good Golf (Prosper, TX), a golf media and lifestyle brand. The round was led by Creator Sports Capital with participation from Manhattan West, Peyton Manning’s Omaha Productions, and 50+ additional global investors.