In the nation’s largest city, tech companies are modernizing industries across the board. Companies in spaces like logistics, advertising and artificial intelligence secured the largest capital raises of the month in June. With their collective $562.5 million, find out how they plan to spend it all.
NYC’s Top Tech Funding Rounds, June 2023
- Madhive
- Runway
- Warp
- Nuvocargo
- EliseAI
#5. $35 million, June 7
Serving the commercial real estate industry, EliseAI developed a conversational artificial intelligence solution to automate conversations between renters and apartment buildings via channels like text, email and phone calls. Its Series C funding led by Point72 Private Investments will help EliseAI expand its product and grow into additional verticals like healthcare.
#4. $36.5 million, June 27
QED Investors led the Series B round for logistics company Nuvocargo. The platform uses a combination of software and service to modernize trade routes, including those between Mexico and the United States. While it’s been operating at the border in Laredo, Texas thus far, the company is expanding its services to more border crossings between the two countries. Its solution will help its customers move freight from places including El Paso, Otay Mesa and others.
#3. $50 million, June 21
Warp wants to simplify how developers work with their software’s command line interface — a user interface made for interacting with a device or program. Its latest raise of Series B Capital from lead investor Sequoia will help it achieve this goal. Alongside its new cash, the company also announced the launch of Warp Drive, a tool for team collaboration that helps developers deliver software faster.
#2. $141 million, June 29
On a mission to make content creation accessible to everyone, Runway operates an applied AI research platform that offers a suite of creation tools, like text-to-image generation and video inpainting software. Runway secured an extension to its previously announced Series C round. The $141 million addition from investors like Google, NVIDIA, Salesforce Ventures caps out the round at $191 million. Runway will invest in scaling in-house research, growing its team and bringing its AI systems to market.
#1. $300 million, June 13
Goldman Sachs is investing $300 million into advertising software company Madhive. The company’s tech stack grants TV advertisers the tools to reach streaming audiences at scale. Madhive’s new capital will help fuel platform growth and adoption as well as enable the company to expand into new areas like direct-to-consumer advertisers and retail media networks. It’s also growing its team of 200, with plans to increase its headcount by 20 percent in 2023.
