FUELING THE FUTURE: Balto rasies $37.5M | A $104M fund in Michigan | Pittsburgh exits
- ST. LOUIS, MO—Software startup Balto has raised $37.5 million in a Series B funding round it says will accelerate its rapid growth. New York-based investment firm Stripes led the financing. The financing round also involved several existing investors, including St. Louis-based Cultivation Capital, Sierra Ventures, TIA Ventures, OCA Ventures, Stage Venture Partners, SaaS Venture Capital, Sandalphon Capital and Atreides Management.
- MICHIGAN—The Michigan Venture Capital Association has announced a partnership with Fontinalis Partners to create a $104 million Fund 3 to invest in the next wave of mobility startups in the state of Michigan.
- ANN ARBOR, MI—Cybersecurity startup Blumira raised $10.3 million in Series A funding. New investor Mercury led the round and was joined by Ten Eleven Ventures, M25 and Array Ventures.
- PITTSBURGH, PA—Following in the footprints of Duolingo and Aurora Innovation, more and more tech firms in the Pittsburgh area are rushing toward IPOs.
- FRANKLIN, TN—BorgWarner has invested $10 million in Enexor BioEnergy, a company providing on-site renewable energy and carbon conversion solutions.