Weekly Roundups: 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 Austin startups to watch will keep you in the...
Want to stay up to date on the latest startup fundings, launches, and expansions in Austin? 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.
NuBrakes, a mobile repair startup, recently announced raising a $9 million Series A funding round. This round was led by Canvas Ventures and had contributions from Automotive Ventures, Contrary Capital, and Bling Capital. According to Austin Inno, this startup has two headquarter locations, one in Atlanta and the other in Austin. After opening its Atlanta headquarters last fall, CEO Walker Drewett explains that its Atlanta location has already developed in one of the company’s fastest-growing markets.
Founded in 2019, NuBrakes provides convenient and affordable same-day repairs services in any location varying from your work office to home. From Austin to Nashville, this startup offers services across the country and plans on expanding its businesses towards the Southeast. Currently, NuBrakes’ total investments are at $12 million, and it’s building a “connected vehicle service platform,” which will provide the company with real-time data from vehicles that estimate when future maintenance is needed.
Launched in 2010, Iodine Software implements its knowledge in healthcare and the latest artificial intelligence technology, like machine learning, to improve patient care across the nation. With Boston-based Advent International Corp.’s recent stake purchase of Iodine Software, the company is now valued at $1 billion, making them one of Austin’s newest unicorns. According to Austin Inno, the company acquired Colorado-based Artifact Health and ChartWise Medical Systems.
As the company expands its technology and acquisitions, Iodine plans on growing from 130 to 200 employees within the following year. Currently, Iodine is used in over 800 hospitals and 80,000 health care providers nationwide. CEO William Chan says that the investment will help the company’s expansion, allowing for faster innovation and assisting in finding new ways to implement the ideas of a balance of quality, efficiency, and system financial resilience in healthcare leaders.
As the company continues to progress on its merger with blank-check firm Atlantic Coastal Acquisition Corp., talk about Essentium going public is official. This merger will value the company to roughly $1 billion and implement growth across the entire company. Announced to Austin Inno, the deal is expected to close at the beginning of 2022.
Essentium’s high-speed extrusion technology helps the company create industrial 3D printing, allowing customers to get quick and cost-effective floor ready parts at scale. Some customers include big name companies such as the Department of Defense and Ford Motor.
After Essentium’s Series A funding round in 2019, the company relocated its headquarters from College Station to Pflugerville, just north of Austin. Currently, the company is said to have around 170 employees. In addition to customer growth, Essentium plans on using its new investment to expand its “existing polymer and composite materials.”
The year is coming to an end, which calls for another Austin Inno Fire Awards round. This year, the list consists of 50 Austin-based startups chosen from nominations and Inno’s editorial teams. The categories on the list are comprised of: 10 top software startups, five top CPG startups, five top social impact startups, 10 top fintech and security startups, five top exits and acquisitions for startups, five top community builders in Austin’s startup scene, five top health tech startups, and five top lifestyle startups.
Although the pandemic took a toll on many Austin startups, the selections for this year’s Fire Awards have had a fantastic year and are anticipated to excel in 2022.
About Michelle Vernaza: Michelle is a Business Development Associate Intern 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.