Boston banks on biotech, cybersecurity and the Seaport district

February 13, 2016
by Admin
 

By Ali Keppler
If you’re a college student with entrepreneurship on your mind, you’re in luck with this week’s news. Rough Draft Ventures, the venture capital fund dedicated to backing student-founded startups, plans to continue expanding its Boston roots by actively engaging with new college campuses and identifying new student entrepreneurs to recruit into its community. In 2015, the VC fund added 10 new team members from Boston-based schools, such as MIT, Harvard and Tufts; met with more than 300 student founders; and backed 16 of their startups. BostInno expands on the factors driving Rough Draft Ventures’ growth and some trends that have already emerged among its portfolio companies.
Elsewhere in Boston, announcements of new startup funding and expansions made headlines in the last week. Read on for more details:
Hewlett Packard helps fund Boston cybersecurity startup (Boston Business Journal)

Hexadite Inc., a startup that aims to fully automate cybersecurity incident response, has closed $8 million in Series A funding from Hewlett Packard Ventures, Ten Eleven Ventures and YL Ventures. The company plans to use the funds to accelerate research and development in Israel, as well as worldwide marketing and sales.

Emulate opening headquarters and lab in Seaport district (Boston Globe)

Boston’s Seaport district continues to welcome new business and tech industry neighbors. Emulate Inc., which emerged from Harvard University’s Wyss Institute for Biologically Inspired Engineering, has moved from a temporary Cambridge site to a Seaport-based headquarters. The company is working to develop a microchip that uses living cells to aid scientific research. 

Yumanity raises $45 million to fight neuro diseases (Boston Globe)

Another healthcare startup, Yumanity Therapeutics, has secured $45 million in funding from institutional investors, including Fidelity Management & Research Co., with strategic support from local biotech organizations. The funding will research for the fight against some of the healthcare industry’s most complicated targets – Alzheimer’s disease, Parkinson’s disease and Lou Gehrig’s disease.

DataRobot downloads $33M as machine learning eats the world (Xconomy)

New Enterprise Associates led a $33 million Series B round for DataRobot, a company that aims to combine machine learning with data science. DataRobot CEO and Co-founder Jeremy Achin is a data scientist himself, and a UMass Lowell graduate. The funding round also included participation from Accomplice, Intel Capital and IA Ventures.

What was your favorite startup news this week? Share it with @MetisComm.

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