Weekly Roundup: 4 Startups in Austin 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.
Bayer, one of the largest pharmaceutical and life science companies in the world, invested $100 million in One Drop, a diabetes management platform founded in Austin by Jeff Dachis. Currently, One Drop monitors and educates consumers about blood pressure and cholesterol as well as forecasts health outcomes, long-term blood pressure outcomes, and weight outcomes. The Series C funding will help One Drop broaden its focus from diabetes, high blood pressure and high cholesterol to cardiology, oncology and women’s health.
The Bayer investment is a huge accomplishment for One Drop, however not their first milestone according to Austin Inno. In 2016, one year after launch, One Drop became one of the first apps to be integrated into Apple’s CareKit. The app has been downloaded over three million times and One Drop has already expanded, securing a second office in New York.
Originally launched as a service for video gamers, Restream, a livestream platform is thriving in all industries. Restream recently gained users from Fortune 500 companies, celebrities, politicians, and more when COVID-19 caused in-person gatherings to become obsolete and online communication to become imperative.
Restream recently received a $50 million Series A funding round led by Sapphire Ventures and Insight Partners. Restream plans to launch a digital broadcast production platform that enables companies and content creators to broadcast over 30 social platforms at once. The service will also allow streamers to add logos, analytics, overlays, and chat features to their livestream.
In addition to the new platform, the funding will help the company keep up with the rapid demand. According to Built in Austin, the company has seen a 300 percent increase in monthly views since January. Restream currently has a community of 2 million streamers broadcasting an average of 8 million livestreams a month.
VentSpace is a new social media app that enables users to talk about their feelings and worries, while remaining completely anonymous. Where other social media platforms, such as Instagram, use images and profiles to enhance their platform, VentSpace relies on anonymity.
Founder Daniel Greggs built the app on the idea that everyone has something to say but may not have an affordable or practical avenue to say it. Users can post under topics such as PTSD or loneliness and “relate” or “follow” individual vent posts all while remaining anonymous. Austin Startups and ATX the Brand reported the app launched in August and has already seen some traffic.
In a Series B funding round, Fetch, a delivery service geared toward apartment dwellers, gained $18 million in funding. Austin Business Journal reports the funding round was led by Iron Gate Capital and Pando Ventures. Since the onset of COVID-19, Fetch has received 59% increase in package volume per apartment home. Fetch is planning to use the funding to reach into new markets, add new clients, expand with current clients, and invest in warehouse technology and delivery strategy.
To use the last-mile delivery service, users set the delivery address as a Fetch warehouse address. Then, using the Fetch app, users can schedule a delivery at their home in two hour windows. Fetch works directly with apartment managers and offers flexible delivery hours–more than 80% of Fetch’s deliveries occur after 5pm.
About Savannah Burns: Savannah is a marketing and communications intern for Swyft, which is a PR firm in Austin and Houston and a top digital marketing agency in Denver since its founding in 2011. Swyft recently opened a satellite office where it offers PR in San Francisco.