MassVentures Closes Three Deals with Deep Tech Startups | MassVentures
Summary
The funding was part of an overall award of nearly $169 million to the Commonwealth from the U.S. Treasury.MassVentures led, or co-led seed investment rounds in the following companies: None for more energy-efficient windows. Launched in early 2022, the startup is already partnering with several leading civil engineering firms that have used its technology to assess more than 4,000 miles of transportation infrastructure across dozens of New England communities.In a Series A round, MassVentures additionally invested in JetCool, with headquarters and manufacturing in Littleton MA. JetCool is leveraging advanced materials for liquid cooling, offering sustainability solutions for high powered electronics (e.g., data centers, quantum computing). The Commonwealth was awarded $168,591,178 that will be disbursed in three tranches to three quasi-public agencies, including MassVentures.This major federal investment will directly benefit our economy by empowering small businesses and entrepreneurs in Massachusetts especially our smallest and underserved businesses with the capital they need to grow, said Housing and Economic Development Secretary Mike Kennealy. MassDevelopment, Massachusetts Growth Capital Corporation, and MassVentures already play a critical role advancing equitable business growth in the Commonwealth, and this funding will allow these agencies to expand their loan offerings to reach more companies.MassVentures focuses on deep tech startups developing scientific and engineering breakthroughs that often disrupt or create new markets.