Tetrate, DataGrail, Optibus, Flutterwave got funded this week
Tetrate, a startup that is commercializing an open-source networking project that enables faster data exchange across multiple applications, has secured $40 million in funding. The round, led by Sapphire Ventures, highlights the importance of the Istio project and how important cross-platform data storage platforms have become.
Tetrate was founded in 2018 and officially launched in 2019 with a $12.5 million round that lifted the company's profile and allowed it to commercialize and professionalize services focused on the open-source projects Istio and Envoy Proxy.
retrain.ai, an Israeli startup that uses AI and machine learning to read work boards at scale and gain insight into where the job market is headed, has raised $9 million in a Series A round led by Square Peg. Since retrain.ai's unannounced $4 million seed round last year (led by Hetz Ventures, with TechAviv and .406 Ventures participating)
DataGrail, a company that lets users identify how their data is stored in order to help them comply with an increasing body of privacy legislation, reported a $30 million Series B funding round.
The round was led by Felicis Ventures, with participation from Basis Set Ventures, Operator Collective, and previous investors.
Optibus, a Tel Aviv-based company that provides a forum to study how cars and people travel through cities and also provides routing, timing, driver rostering, and other advice for public transit companies to best serve those cities, has raised $107 million in a Series C round that will be used to extend the types of services that it offers to consumers.
Bessemer Venture Partners and Insight Partners co-lead the round, with former investors Verizon Ventures*, Pitango, New Era Capital Partners, Dynamic Loop, and Blue Red Partners all taking part.
NuORDER, a B2B e-commerce platform located in Los Angeles, CA, has raised $45 million in funding. Brighton Park Money and Imaginary Projects led the round.
The proceeds will be used to support the company's ongoing development and penetration of its target markets. NuORDER is a B2B network that drives trade and exploration, led by Olivia Skuza and Heath Wells.
Centrical, a provider with an employee-centric success network, has raised $32 million in funding. Intel Capital and JVP led the round, which also included C4 Ventures and Citi Ventures, as well as established investors Aleph, CE Ventures, La Maison Compagnie d'Investissement, and 2B Angels.
The funds will be used to accelerate market engagement, reach new markets, and improve customer service.
Flutterwave, an African payments firm, reported a $170 million funding round, valuing the company at more than $1 billion. The Series C round was led by Avenir Growth Capital, a private investment company headquartered in New York, and Tiger Global, a hedge fund and investment firm based in the United States.
Flutterwave has raised $225 million in total, making it one of the few African startups to have received more than $200 million in financing. Flutterwave aspires to be a multinational payments firm, and the Series C investment will help it get there. The funds will be used to drive consumer acquisition in the firm's existing markets, according to the company.