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 the loop on the latest Austin tech news.
Featured image by Firefly Aerospace.
Shattuck Labs, a biopharmaceutical startup based out of Austin, recently filed for an IPO. Though there is no date or share price yet, the offering size is proposed as $100 million, according to Austin Business Journal. The company plans to list on the Nasdaq with the ticker STTK.
Shattuck Labs has developed a proprietary Agonist Redirected Checkpoint (ARC®) platform that uses dual-sided fusion proteins to create treatments for various types of cancers. When ARCs are inserted into the body, they suppress some parts of the immune system while activating others. Shattuck’s lead product, SL-172154, is currently treating patients with ovarian cancer during phase I of clinical trials.
Cedar Park-based company, Firefly Aerospace, has its eyes on the sky. The startup recently performed it’s latest rocket test launch last weekend, according to Austin Inno. This launch was the most recent in a series of test launches performed by the Austin startup. Prior to this, Firefly performed a test launch in January when a small fire broke out in an engine bay at the base of the rocket. No one was hurt, although the incident caused some alarm and a section of US-183 was shut down. The most recent launch, however, was a success in that four Reaver engines roared for 35 seconds—a huge step as the company prepares for the first launch.
Though Covid-19 has caused a few delays for Firefly Aerospace, the company is still hoping for the first launch of their Alpha rocket by the end of the year and plans to launch twice a month after that. The Alpha rocket is designed to carry up to one metric ton and will carry small satellites into low Earth orbit.
Bright Health, an insurtech startup based out of Minneapolis, just scored $500 million in a recent Series E round. Bright Health plans to use part of the new funds to expand in Austin. With 24 positions open in Austin already, the company plans to bring on 48 more before the end of the year. The Series E investors include Tiger Global Management, T. Rowe Price Associates, Blackstone, NEA, Bessemer Venture Partners and Greenspring Associates.
Bright Health was founded in 2015 and offers a range of insurance plans for individuals, families, and Medicare patients. With a vast network of doctors, clinics, and hospitals, Bright Health offers both virtual and direct clinical care to over 120,000 patients. According to Built In Austin, the insurtech company currently generates about $1.2 billion in annual revenue and has raised $1.5 billion in venture funds.
Sciplay, a digital game developer and publisher, welcomes Danny Moy to the team. Moy will act as both the Senior Vice President and Chief Strategy Officer to the Austin-based company. He will oversee the business development team, identify new business opportunities, drive the strategic planning process and oversee corporate strategy.
Before his new role at SciPlay, Moy served as the executive vice president of business development and strategy at PLAYSTUDIOS. Other roles on his resume include investment banking, private equity and operational finance at prestigious names Bank of America, Halyard Capital, and Yahoo!, according to the press release on PR Newswire.
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.