Weekly Roundup: 4 Austin Startups to Watch
Want to stay up to date on the latest startup fundings, launches, and expansions in Austin? Startup Over Coffee’s weekly roundup of startups to watch in Austin will keep you in...
Want to stay up to date on the latest startup fundings, launches, and expansions in Austin? Startup Over Coffee’s weekly roundup of startups to watch in Austin will keep you in the loop on the latest Austin tech news.
Featured image by Botany AI
ClosedLoop, a startup based out of Austin, is working toward changing the way healthcare providers respond when it comes to preventing disease, illness and complications. Rather than fixing a problem after it’s already occurred, Closed Loop uses AI and machine learning technology to prevent the problem from ever happening in the first place. For example, ClosedLoop’s technology tells health care providers which patients need X; X could be a ride to the hospital, a follow up appointment or a prescription refill. By alerting healthcare providers to these risk patients, providers will be able to make sure they get a ride to the hospital or get a prescription refill before the patient has a chance to miss it.
According to Austin Inno, ClosedLoop recently scored a $11 million Series A led by Greycroft and 406 ventures. The new funding will be used toward developing their technology. The Series A round brings the total company valuation up to $17 million. ClosedLoop was founded in 2017 by Andrew Eye (CEO) and David DeCaprio (CTO).
Now that more and more companies are going remote, employers have increasing uncertainty around their employee’s productivity. Enter ActivTrak. Activtrak is an AI-powered employee monitoring platform that acts as computerized eyes to watch the virtual whereabouts of employees while they are clocked in for work. Essentially, the monitoring platform can track how much time employees are spending on specific websites and use that data to rank employees’ productivity levels.
ActivTrak has seen an influx in demand with more companies looking for monitoring tools amid Covid-induced remote working trends. However, the tech startup was experiencing growth before the global pandemic. So it’s no surprise ActivTrak recently received a $50 million Series B funding round. According to Built In Austin, the tech startup plans to invest its new funds in expanding it’s integrations with third party data sources and technology partners, upgrading its AI and machine learning technology, and scaling its global sales and marketing programs.
To eat meat or not to eat meat? That is the question. Botany AI is working on an answer. Botany AI uses precision fermentation technology to produce complex molecules to mimic the taste and nutrition value of actual meat without any of the hormones, antibiotics or unethical farming. The process is very similar to the process of making beer, wine and cheese.
Currently, the industry for plant-based or cultivated/cell-based protein is a multibillion dollar industry and growing (think Beyond Meat or Impossible Burger). While the year old startup is not yet at billion dollar status, Botany AI hopes to have raised $3 million within the first 18 month of operations, according to Austin Inno. Botany Ai’s first product is a savory beef flavored peptide that can be used in soups, stews, or processed foods. To create animal-free, real meat protein, no part of the animal is used in this process, just the DNA sequence.
Provene, a mobile monitoring platform, has been acquired by iVitalize, a multi-prong genetic tech company. Provene will become a part of iVitilize’s lineup of technologies aimed to help people overcome addiction. Provene will act as a virtual support assistant that can be used by users and case workers alike. Provene will help provide real-time information that can ultimately help with interventions.
iVitilize, on the other hand, has been building a platform that intends to redefine addiction treatment. According to Austin Inno, iVitalize currently has a genetic addiction risk score to identify the likelihood of people developing a substance abuse problem. Provene’s had the most success with it’s monitoring tool in the criminal justice, healthcare and recovery industries. So a partnership with iVitalize is right on brand.
About Savannah Burns: Savannah is a Business Development Associate for Swyft, which is a tech PR agency in Austin and Houston and a top digital marketing and PR agency in Denver since its founding in 2011. Swyft recently opened a satellite office where it offers tech PR in San Francisco. Swyft was also listed as one of the top tech PR agencies in Texas by the B2B services review site, Clutch.co.