52 Boston Startups Net $1.5 Billion+ In May


Boston’s biotech industry raised more than $1.5 billion in venture capital funding in May, BostInno reported.

Among the handful of startups to benefit from funding include Amwell, a Boston-based telemedicine company, that raised $194 million in Series C funding as some doctors treat patients by video messaging; Atea Pharmaceuticals, a Boston-based developer of therapies for viral diseases that raised $215 million in Series D funding; and Lowell startup Rapid Micro Biosystems, a provider of microbial detection technology, that received $120 million.

BostInno reported that fundraising for new investments by venture capital and private equity firms was less but still evident.

Cohere Capital Partners, a Boston-based private equity firm focused exclusively on middle-market growth companies, closed its initial fund at $200 million, and Founder Collective raised $85 million for its newest fund, BostInno reported.

Below are the startups that raised capital in May, according to data compiled by BostInno.

  • LaunchPad Medical of Lowell received a $2.5 million Direct-to-Phase II Small Business Innovation Research grant from the National Institute of Neurological Disorders and Stroke to advance the development of Tetranite, its bone adhesive biomaterial technology.
  • Boston-based Jellyfish, a startup behind an engineering management platform, raised more than $12 million in Series A funding from Accel and Wing Venture Capital.
  • Digital Guardian, of Waltham, a data loss prevention software company, raised $35 million in equity, according to a Securities and Exchange Commission (SEC) filing.
  • Ventus Therapeutics launched with $60 million from Versant Ventures and GV. The company, which has offices in Waltham and Montreal, said it plans to create drugs that target the immune system’s first line of defense.
  • Cambridge-based agtech startup CiBO Technologies raised $10 million in equity, according to an SEC filing.
  • XRHealth netted a $450,000 grant from the Israeli Innovation Authority to fight COVID-19.
  • Waltham-based Viridian Therapeutics, a biopharmaceutical company focusing on natural chemical-free therapeutics, sold shares worth $2 million in a $5 million equity round.
  • Day Zero Diagnostics, founded in 2016 at Pagliuca Harvard Life Lab, was awarded $6.2 million in funding from Boston-based Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator.


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