Colorado’s top five capital raises in July totaled $223.5 million and more than doubled last year’s July total of roughly $93 million.
Several local companies operating in the energy and medical diagnostic industries kicked off the third quarter of 2024 by closing venture capital rounds
Here are the five Colorado companies that pulled in the most capital last month. These businesses plan to use the funding to commercialize existing technologies and develop new tech solutions.
Tilled — $12.5 million
Tilled, the Boulder-based payment processing company, secured $12.5 million in capital from six investors according to a Form D filled by the company on July 29. The payment facilitator company allows software companies to make money off of the payments they process, rather than losing money to fees. This latest venture round brings total venture funding raised to $36.7 million.
Tilled previously raised $11 million in Series A funding in May 2021 and an additional $11 million for its Series A in February 2022.
Cowboy Clean Fuels — $13 million
Cowboy Clean Fuels, the Denver and Gilette Wyoming-based energy company, secured approximately $13 million in Series B equity financing, according to a July 22 press release. The funding round was led by Machan Investments, a Houston, Texas-based investment firm created by former energy executive Dan Dinges. The startup is commercializing a process to produce renewable natural gas by converting agricultural waste into renewable methane. The company’s Series A round was also led by Machan Investments and raised $7.5 million.
Cowboy Clean Fuels says the funding will be pivotal in its commercialization of technology that simultaneously produces natural gas while removing carbon dioxide from the atmosphere.
Foresight Diagnostics — $33 million
Foresight Diagnostics, the Boulder-based cancer diagnostics company, secured a $33 million Series B financing round, according to a July 30 release. The funding came from existing investors San Francisco-based Foresite Capital a healthcare and life sciences investment firm, San Francisco-based Civilization Ventures, Aurora-based University of Colorado Healthcare Innovation Fund, and others.
The money will support advancement of Foresight CLARITY, the company’s liquid biopsy testing platform that measures cancer cells in the body. This latest funding round brings total venture financing to $86 million, according to the release. Last April, the company brought in $58.75 million in Series B funding, according to previous DBJ reporting.
Peak Energy — $55 million
Peak Energy, the Denver and San Francisco-based energy company, landed $55 million in Series A funding. The round was led by Singapore-based Xora Innovation and had significant participation from existing investor Palo Alto, California-based Eclipse — which previously led a Series A investment in Colorado space company True Anomaly — and strategic partner TDK Ventures, based in San Jose, California.
Peak Energy is developing low-cost, utility-scale energy storage for the grid, and primary funding will be used to launch full-scale production of sodium-ion batteries in the United States.
Gloo — $110 million
Gloo, the Boulder-based technology platform company that connects churches with their congregations, secured $110 million in a funding round, according to a July 31 release by the company. The funding will accelerate development of the Gloo platform and contribute to the company’s development of an artificial intelligence system specifically geared toward the faith ecosystem, the company said in the release.
