Want to stay updated on Austin’s latest startup funding, launches, and expansions? Startup Over Coffee’s weekly roundup of Austin startups to watch will keep you in the loop on the latest Austin tech news. 

Catch up on previous weekly roundups here.

Spark Cognition

Austin-based AI subsidiary company Spark Cognition Government Systems announced a $950 million government contract. Spark Cognition will use funds to further expand its data, cloud, and AI to assist the department of defense in collecting, analyzing, and delivering information to military troops with speed. 

Spark Cognition focuses on defense applications for national security and defense missions. 

Multicoin Capital Management LLC

Multicoin Capital Managment LLC, an Austin-based crypto-focused firm, announced raising $430 million for its third fund. With this new money, Multicoin Capital will invest in early-stage Web3 and crypto startups. Investments will range from $500 thousand to $25 million. 

Founded in 2017 by Kyle Samani and Tushar Jain, Multicoin has totaled 96 investments, with eight since April. Multicoin will focus primarily on startups that contribute to public databases, incentivizing verifiable work and startups that create monetization tools. 

Ghost Financial

Cruising kitchens entered a deal with Ghost Financial, an Austin-based ghost kitchen capital firm. The deal will entail receiving up to $100 million in both financing and insurance over the next three years. This funding will be used to expand business operations, creating new opportunities for new ghost kitchen business models for national brands. This will be the second funding of this year for Ghost Financial, with the previous announcement in our earlier roundup. 

TurnKey Lender

Austin-based financial tech startup announced raising $10 million in a mix of equity and debt led by OTB Ventures, based in Amsterdam. These funds will enable new growth in lending adoption across North America, Europe, and Southeast Asia. Turnkey also appointed Christian Moralesas as chairman of the board, rounding out their leadership team. 

Founded in 2014 by CEO Dmitry Voronenko, TurnKey Lender is a SaaS platform that develops digital lending markets. 

About Lara Tanner: Lara is an Account Associate for Swyft, which is a tech PR firm in Austin and Houston and a top digital marketing and PR agency in Denver since its founding in 2011. Swyft also has a small satellite office where it offers tech PR in San Francisco. Swyft has been listed as one of the top tech PR agencies in Texas for two years running by the B2B services review site, Clutch.co.