Total amount raised
$19.2 Millions
Latest funding date
5/1/2021
Location
VIA has successfully raised $28 million over multiple funding rounds, with notable investors including BMW i Ventures and Sentinel Global.
The platform offers Web3 solutions designed to protect data against theft, misuse, and manipulation, leveraging blockchain technology for enhanced security and privacy.
Keep reading to explore the intricacies of VIA's fundraising journey and the investors backing this innovative platform.
What Is VIA?
Founded in 2016, VIA is headquartered in Somerville, Massachusetts. The company specializes in helping energy companies unlock the value of their data through AI and blockchain technologies.
VIA was established by Colin Gounden, Jeremy Taylor, and Kate Ravanis. The company collaborates with governments, regulators, and large global utilities on AI initiatives like predictive maintenance and contingency planning.
With a team of 11-50 employees, VIA focuses on providing Web3 solutions that ensure data security and privacy, making it a trusted partner in the energy sector.
How Much Funding Has VIA Raised?
- Seed Round
- Amount Raised: $2M
- Date: Nov 2016
- Lead Investors: Tokyo Electric Power
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop core technology.
- Grant
- Amount Raised: -
- Date: Sep 2017
- Lead Investors: Startup Canada
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage research and development.
- Grant
- Amount Raised: -
- Date: Oct 2017
- Lead Investors: -
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop and validate technology.
- Seed Round
- Amount Raised: $7M
- Date: Jun 2019
- Lead Investors: The Westly Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance product offerings.
- Grant
- Amount Raised: $145K
- Date: Jan 2020
- Lead Investors: Massachusetts Clean Energy Center
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support clean energy initiatives and technology development.
- Grant
- Amount Raised: -
- Date: Aug 2020
- Lead Investors: Swiss Federal Office of Energy
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To advance energy-related research and projects.
- Series A
- Amount Raised: $10.1M
- Date: May 2021
- Lead Investors: The Westly Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To hire top talent, expand the customer base, and accelerate software delivery.
Total amount raised: $19.245M. Current valuation: Not publicly disclosed.
Key Investors
- The Westly Group
- Details: The Westly Group is a venture capital firm that invests in smart energy and mobility companies. They have over $500 million in assets under management and have had six companies go public, including Tesla Motors and Luminar.
- Investment Focus Areas: Smart energy, mobility, technology.
- Notable Investments: Tesla Motors, Luminar.
- Tokyo Electric Power
- Details: Tokyo Electric Power Company (TEPCO) is Japan's largest electric utility, serving millions of customers in the Kanto region. They are involved in the generation, transmission, and distribution of electricity.
- Investment Focus Areas: Energy, infrastructure, technology.
- Notable Investments: Not publicly disclosed.
- Massachusetts Clean Energy Center
- Details: The Massachusetts Clean Energy Center (MassCEC) is a state economic development agency dedicated to accelerating the growth of the clean energy sector across the Commonwealth. They provide funding and support for clean energy projects and startups.
- Investment Focus Areas: Clean energy, technology, innovation.
- Notable Investments: Not publicly disclosed.
- Swiss Federal Office of Energy
- Details: The Swiss Federal Office of Energy (SFOE) is the federal government's center of expertise for energy supply and use. They focus on ensuring a sustainable and secure energy supply for Switzerland.
- Investment Focus Areas: Energy, sustainability, research.
- Notable Investments: Not publicly disclosed.
- Startup Canada
- Details: Startup Canada is a national organization that supports Canadian entrepreneurs through programs, partnerships, and advocacy. They aim to foster a vibrant entrepreneurial ecosystem in Canada.
- Investment Focus Areas: Entrepreneurship, innovation, technology.
- Notable Investments: Not publicly disclosed.
What's Next for VIA?
VIA's future looks promising with significant opportunities on the horizon. The company plans to leverage its recent $10 million Series A investment to hire top talent and expand its customer base in the U.S. and Western Europe. This expansion is crucial as the energy sector increasingly adopts AI to support clean technologies. With a growing demand for data privacy and AI applications, VIA is well-positioned to capitalize on these industry trends.
Future fundraising seems likely, given the successful Series A round and the company's ambitious growth plans. However, challenges such as data access issues and meeting high DevSecOps standards could pose hurdles. Managing rapid growth and scaling operations effectively will be essential for VIA to maintain its momentum and achieve its goals.
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