UVeye Pulls in $100M, Petal Raises $35M, and More NYC Tech News

Catch up on the latest tech developments from the Big Apple.

Written by Ashley Bowden
Published on May. 15, 2023
UVeye Pulls in $100M, Petal Raises $35M, and More NYC Tech News
Hands hold up Petal credit cards.
Photo: Petal

The New York tech scene was anything but dormant last week. Companies in spaces from fintech to automotive technology are investing in their tech stacks with new funding rounds. This is the Built In NYC Weekly Refresh — read on for more.

UVeye raised $100M. Serving the automotive industry, UVeye plans to advance its automated vehicle inspection tech with a new injection of capital. The company announced a Series D round led by Hanaco VC that it plans to put toward producing its inspection systems in the U.S. and fueling sales growth into new markets. [UVeye]

Petal got $35M. Fintech platform Petal wants to make credit more accessible by providing an alternative to credit scores. Its solution leverages ​​​​cash flow underwriting to encourage users to build credit. The company secured a fresh round of growth capital Valar Ventures that will be split between Petal and its newly spun-out subsidiary Prism Data, a data infrastructure and analytics company. [PR Web]

NYC Tech Quote of the Week

“At Webb, we want to maximize the multi-chain ecosystem experience while upholding the highest standards of privacy. Our blockchain infrastructure and privacy protocols are designed to work seamlessly across different chains and applications.”— Drew Stone, Webb Protocol’s founder and CEO

Webb Protocol secured $7M. Polychain and Lemniscap led the seed funding round for Webb, a company that develops privacy solutions for the blockchain ecosystem. Through its private bridge protocol, Webb’s goal is to implement a new privacy standard on cross-chain applications. The fresh capital will help the company expand its team and fuel the development of new privacy tools. [PR Newswire]

Blockworks pulled in $12M. Crypto media firm Blockworks wants to expand its product suite as well as its data and research platform with a fresh round of capital from lead investor 10T Holdings. Its product, Research, has recently come to include a feature that tracks when new crypto protocols are proposed. The solution aims to provide users with up-to-date information about the growing crypto space. [Blockworks]

Nex Cubed announced its first cohort. Bay Area-based Nex Cubed launched the HBCU Founders Accelerator program for companies where a founding member is an HBCU student, graduate or faculty member. The eight startups in the program’s inaugural cohort will receive up to $500,000 in funding and Nex Cubed’s mentorship to grow their business. One participating startup, a mobile payments platform named BE$TOW, is headquartered in Brooklyn. [Email]  

In more VC funding news: Serving cloud companies with an AI-powered solution that saves them costs on Amazon Web Services, Antimetal secured $4.3 million in seed funding from Framework Ventures and others. [TechCrunch]

Cloudburst, a company offering regulatory solutions for the crypto industry, pulled in a $3 million seed investment led by Strategic Cyber Ventures to fuel company growth. [PR Newswire]

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