With temperatures nearing triple digits, Austin’s weather is heating up almost as much as the local tech scene. Several decent-sized funding rounds bucked the downward trend in venture capital, and one company is leaving Europe to grow its business in Silicon Hills.
Catch up on all the local tech news you may have missed last week with the Built In Austin Weekly Refresh.
WIN Reality scored $45M. The Austin startup has developed virtual reality technology that allows baseball players to practice hitting more than two million different virtual pitches, using a Meta Quest headset and an attachment that slides onto their bat. WIN Reality will use the funding to expand its team, improve its technology and develop a product for younger players at all skill levels. [Built In Austin]
Onramp Funds bagged $42M. The Austin-based startup provides e-commerce companies with working capital to meet shipping and fulfillment costs so they can shift resources to other areas of their business. Onramp’s fresh funding includes a credit line for financing small businesses as well as equity funding to build out a customer acquisition engine and hire additional staff. [TechCrunch]
austin tech quote of the week
“I feel like I can hand off the responsibilities that I’ve been dealing with for years, and I can focus on getting back to that early stage of growing a team from zero to about 20 people. It’s going to be like the early days when we were a team of 20 here in Hungary.” — SEON co-founder and COO Bence Jendruszak
SEON named Austin as its U.S. headquarters. After raising a $94 million Series B, SEON co-founder and COO Bence Jendruszak is leaving his hometown of Budapest to establish a U.S. headquarters in Austin with the hopes of ramping up business in North and South America. Jendruszak is currently looking for office space as he expects to hire a team of 20 employees, most of which are in business development and customer success roles. [Built In Austin]
Spot Insurance raised $25M. The Austin-based startup has found its niche in partnering with ski resorts and other athletic venues to offer customers short-term insurance coverage to cover any injuries they might incur at the facility. Spot Insurance will use its latest funding to build new partnerships and grow its reach. [Austin Inno]
Striveworks said it will double its headcount. The Austin-based machine learning operations company is hiring engineers to support the continued development of Striveworks’ core product, the Chariot MLOps platform, along with other projects. [PR Newswire]