Photo: True Wealth Ventures
Austin tech companies were at it again last week raking in millions. Two companies in the Web3 and fintech spaces also launched with big goals to better their respective industries. Catch up on the latest tech news you might have missed with the Built In Austin Weekly Refresh.
True Wealth Ventures landed $35M. This is the Austin-based VC firm’s second fund and will be used to invest in seed-stage startups led by women that improve environmental and human health. Co-led by Sara Brand and Kerry Rupp, True Wealth Ventures believes that women-led companies perform better financially than male-led businesses. True Wealth Ventures raised its first fund in 2018 totaling $19.1 million. The VC firm has invested in healthtech startups like Flourish, BrainCheck and others. [True Wealth Ventures]
Cleartrace got $20M. Cleartrace is an Austin-based energy and carbon management software company that showcases “previously unseen data for renewable energy buyers and suppliers,” according to a company statement. Led by ClearSky, this capital raise follows several announcements from Cleartrace, including new partnerships with JPMorgan Chase, Brookfield Properties and Iron Mountain. [Business Wire]
Austin Tech Quote of the Week
“We’re building the alternative to a broken U.S. health insurance system by making it easier for people to access affordable coverage. By distributing through partners, customers will not only be able to buy insurance in the moments they need it most; they’ll also know exactly what they’re covered for — so they can live life to the fullest without the fear of going into debt from medical bills.” — Matt Randall, co-founder and co-CEO of Spot
Spot raised $33M. The on-demand insurance platform’s Series A was led by Ensemble VC and included $25 million in equity and $8 million in debt. Spot allows partners and users access to emergency treatments at any hospital, urgent care clinic or licensed physician. With the fresh capital, Spot plans to scale its engineering and sales teams over the …….
Source: https://www.builtinaustin.com/2022/07/05/austin-tech-news-070522
