As the year will soon draw to a close, tech companies are rounding out 2022 with midsize capital raises across various industries. November’s top rounds totaled just under October’s sum of $296 million. Find out which SoCal companies are growing their solutions in greentech, logistics and more in time for the holidays.
Largest Los Angeles Tech Funding Rounds, November 2022
- Swell Energy
- Zest AI
- Bionaut Labs
- Xeal
- GoFreight
5. GoFreight: $23 million, November 14
The company serves freight forwarding businesses with a software solution that streamlines their operations and enables them to build a digital storefront. GoFreight recently announced a round of Series A funding co-led by investors Flex Capital and Headline. With the new capital, GoFreight will develop platform features such as smart quotations, rate management and purchase order management.
4. Xeal: $40 million, November 3
The Golden State is no stranger to electric vehicle innovation, and LA company Xeal is working to build the charging infrastructure for these increasingly popular transportation solutions. The platform that builds charging solutions for apartment buildings and commercial properties raised Series B funding to expand its network with aims to hit 10,000 charging stations by the end of the year.
3. Bionaut Labs: $43 million, November 28
Innovating a way to enter the most hard-to-reach places in the human body, Bionaut Labs is enhancing its micro-robotic drug delivery solution to treat brain diseases. The company secured a round of Series B capital with plans to advance its research and progress through two FDA designations. The round brings Bionaut Labs’ total funding to $63.2 million.
2. Zest AI: $50 million+, November 2
Having pulled in more than $50 million in its latest round of funding, automated underwriting solution Zest AI wants to broaden lenders’ access to its solution. Earlier this year, the startup announced a partnership with credit bureau company Equifax to further its reach. Its latest capital injection was co-led by Insight Partners and CMFG Ventures. The funds will help facilitate Zest AI’s goal of fostering a more inclusive economy for all borrowers.
1. Swell Energy: $120 million, November 22
Under increased global climate concerns, the green energy sector has seen significant growth lately. Swell Energy specializes in renewable power solutions and announced a hefty new round of capital to further its tech. The company will use the money to further its virtual power plant programs as it works to deploy 26,000 energy storage systems in homes and businesses. SoftBank led the round.
