Explosive week of funding in Austin tech
Over the course of seven days, Austin tech collectively raised more than $58 million. The Zebra’s led the week with a $40 million round, the largest raised by an Austin tech company this year, with four other tech companies raising capital as well. See all the fundings here.
Texas hyperloop a finalist in global challenge
Elon Musk’s vision for high-speed transportation inched closer to reality this week with Hyperloop One’s selection of 10 finalist locations around the world to host its first system. The Texas Triangle route was one of them. The 640-mile track would connect Dallas-Fort Worth, Austin, Houston, San Antonio and Laredo and would take just 20 minutes to get between Austin at Dallas. [Austin Business Journal]
Next Coast Ventures adds two new partners and EIR
Austin-based VC firm Next Coast Ventures announced this week that it has added two new technology partners to its team: Paul Rogers and Jim Dunham. It has also recruited Adam Salamon as its first Entrepreneur in Residence. Dunham joins the firm having most recently served as president of San Francisco-based ServiceSource, and Rogers is CTO at Namely and former CTO of RetailMeNot. Salamon most recently served as founder and COO of Perk.com. [Press Release]
HID Global acquires Mercury Security
Austin-based HID Global announced this week that it plans to acquire Mercury Security, a California-based supplier of controllers for physical access control. The closing of the deal is expected to be finalized by Q4 of this year. Financial details were not disclosed. If the deal is approved, the Mercury Security team will join HID’s Physical Access Control Solutions business. [Press Release]
Images via company websites and social media.
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