Dallas Venture Deals

May 2025

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Howdy folks,

Welcome to the 23rd edition of the Dallas Venture Deals newsletter. Things are heating up here in DFW as summer kicks off to a scorching start for both venture capital and the founders who seek it. Through just five months, DFW startups have raised over $1.25B across more than 70 disclosed deals, putting us on pace to surpass $3B in venture funding by year-end—a mark that would rival the post-COVID boom years of 2021 and 2022. Our guess is the summer months will naturally slow as many of our fellow friends find their way to the mountains, but surpassing last year’s total in the first six months is one heck of a way to start 2025.

This month, we saw companies from AI-native platforms and defense tech to digital healthcare and Western boots, showcasing the breadth of innovation happening here in North Texas. The funding rounds below are starting to match the ambition of our community of builders. Whether it’s a stealth-mode national security startup raising $50M out of the gate or a homegrown insurtech giant pulling in $170M in capital and credit, the message is clear: Dallas continues to shine as the capital of capital in the Lone Star State and beyond.

Thanks for reading, sharing, and staying plugged into the stories driving DFW’s innovation economy. Our goal is simple — to shine a light on DFW's venture capital activity and fuel the growth taking place in our great region.

Venture Deals

DFW-Based Company Fundings

Adyton (Dallas, TX), a veteran owned, venture backed, American public benefit corporation building world class mobile software products for people who serve, raised an $11M Series A led by Venrock with participation from Khosla Ventures, Liquid 2 Ventures, Alumni Ventures, Initialized Capital, Kindred Ventures, and Leblon Capital. Additionally, the company announced a multi-year contract with U.S. Naval Aviation worth up to $7M.
Bestow (Dallas, TX), a leading insurance technology company, raised a $120M Series D round co-led by Goldman Sachs Alternatives’ Growth Equity and ex-Salesforce co-CEO Keith Block’s Smith Point Capital. In addition to the equity financing, Bestow also secured a $50M credit facility from TriplePoint Capital.
BRIUS Technologies (Dallas, TX), a leading innovator in orthodontic technology, raised $19.5M in the first closing of its Series B round. The round was led by View Ventures, with strong participation from Sonder Capital, Invus, SUM Ventures, and Tech Wildcatters.
Durango TurnKey Services (Dallas, TX), a PropTech startup that provides tech-enabled make-ready services and light renovations to multifamily assets, is raising funds from 2 The Moon Ventures and Morrison Seger Venture Capital Partners among others.
Fostr AI (Fort Worth, TX), an AI execution intelligence layer purpose-built for enterprises, raised a $1.2M Seed round.
Leadr (Plano, TX), a developer of people management software for corporations, raised venture funding from Cubit Capital and other undisclosed investors.
Mia (Allen, TX), a conversational AI platform for auto dealerships and service centers, raised $9M from J Ventures.
UNION Technologies (Dallas, TX), which aims to “reindustrialize America’s defense manufacturing base with a next-generation software-driven Factories-as-a-Stockpile model”, emerged from stealth and raised a $50M Seed round. The round was co-led by Bravo Victor Venture Capital (BVVC) and Regulus Global, with participation from Silent Ventures, Decisive Point, Vanderbilt University, RKKVC, IronGate, and several prominent family offices.

DFW-Based Investor Transactions

2 The Moon Ventures (Dallas, TX) acquired Alvies (Austin, TX), a trendy Western bootmaker known for customer experience.
2 The Moon Ventures (Dallas, TX) and Morrison Seger Venture Capital Partners (Dallas, TX) are investing in Durango TurnKey Services (Dallas, TX), a PropTech startup that provides tech-enabled make-ready services and light renovations to multifamily assets.
American Heart Association (Dallas, TX) participated in the $4M funding round for SimpliFed (New York, NY), a company which specializes in virtual maternal healthcare. The round was led by Morningside with participation from The Artemis Fund, Cultivation Capital, The Venture Collective, Empire State Development, Waterline Ventures, and previous angels.
Balerion Space Ventures (Dallas, TX) participated in the $105M Series B for X-Bow Systems (Albuquerque, NM), the leading non-traditional producer of advanced manufactured solid rocket motors (SRMs) and defense technologies. The round was led by Lockheed Martin, with participation from Razor’s Edge Ventures, Crosslink Capital, Lockheed Martin, Boeing Ventures, Bravo Victor Venture Capital, Upsher Management Company, Capital Factory Ventures, Arkenstone Capital, and Event Horizon Capital.
Balerion Space Ventures (Dallas, TX) participated in the $50M Series B for Zeno Power (Seattle, WA), a developer of nuclear batteries for frontier environments. The round was led by Hanaco Ventures with participation from Seraphim, JAWS, Vanderbilt University, RiverPark Ventures, Stage 1 Ventures, 7i Capital, Beyond Earth Ventures, and others.
Beyond Capital Ventures (Dallas, TX) invested in Alt Mobility (New Delhi, India), a full stack electric vehicle as a service company that specializes in integrated leasing and asset management of electric vehicles for commercial fleets.
ConsenSys (Fort Worth, TX) participated in $6.2M Seed round for Turtle Club (Zurich, Switzerland), a protocol for on-chain liquidity distribution. The round was led by THEIA, with participation from Susquehanna (SIG), Laser Digital, Selini, RE7 Capital, L2IV, Archimed Capital, Trident Digital, Bodhi Ventures, Shorewoods, Triton Liquid, AUROS Global, Chorus One, Frachtis, Moonhill Capital, Tulipa Capital, and others.
Cubit Capital (Dallas, TX) invested in Leadr (Plano, TX), a developer of people management software for corporations.
Match Group (NAS: MTCH) (Dallas, TX) acquired HER (San Francisco, CA), a dating app for queer women.
Morrison Seger Venture Capital Partners (Dallas, TX) invested in The Driskill Hotel (Austin, TX), an iconic hotel in downtown Austin off 6th Street
Sentiero Ventures (Dallas, TX) participated in the $4M Seed round for Jozu (New York, NY), the company building enterprise-grade orchestration tools for AI applications. The round was led by HalfCourt Capital, with participation from Mozilla Ventures, BrightSpark, AlleyCorp, and Union Bay Partners.
Tech Wildcatters (Dallas, TX) participated in the $19.5M Series B for BRIUS Technologies (Dallas, TX), a leading innovator in orthodontic technology. The round was led by View Ventures, with strong participation from Sonder Capital, Invus, and SUM Ventures.
TO Ventures (Dallas, TX) participated in the $22M funding round for Converge (London, UK), a technology company which specializes in concrete usage and production for the construction sector. The round was led by ABN AMRO Sustainable Impact Fund (SIF), with participation Climate Investment (CI), Move Energy, PI Impact, J-Impact, Force Over Mass Capital and others.
What If Ventures (Frisco, TX) participated in the $7.8M Seed round for Courage Therapeutics (Newton, MA), a University of Michigan spinout developing medications for eating disorders and obesity. The round was led by Arsenal Bridge Ventures.
What If Ventures (Frisco, TX) participated in the $60M investment round for Saildrone (Copenhagen, Denmark), the global leader in maritime autonomy. The round was led by the Export and Investment Fund of Denmark (EIFO), with participation from Lux Capital, Washington Harbor Partners, Crowley, Academy Securities, Pinegrove, BZH Capital, and Calm Ventures.