These 5 NYC Tech Companies Raised a Collective $650M in May

Learn how the tech companies with the largest venture capital raises plan to spend their funds.

Written by Cassidy Ritter
Published on Jun. 01, 2023
These 5 NYC Tech Companies Raised a Collective $650M in May
The New York City skyline from the water.
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The NYC tech scene was busy last month raking in venture capital for a slew of innovations. The four largest funding rounds raised by NYC-area tech companies in May totaled $650 million, with three companies pulling in $100 million each. That’s down slightly from April’s top 5 rounds, which amounted to a combined $862 million. Here’s what these local companies have planned for the future.

Largest NYC Tech Funding Rounds, May 2023

  • Ambient Fuels
  • CoreWeave
  • UVeye
  • Avenue One

 

#3 (tied). $100 million, May 15

Avenue One was founded in 2020 to help landlords of single-family rental homes buy, sell, renovate, manage and lease their properties. The proptech company secured $100 million in a round led by WestCap to expand its online marketplace to include support in finding real estate agents, contractors and other service providers.

 

#3 (tied). $100 million, May 9

Dual headquartered in Teaneck, New Jersey and Tel Aviv, UVeye began in the homeland security space and has since expanded into the automotive realm. Its fully automated vehicle inspection systems can detect various car problems ranging from oil leaks and dents to tread and underbody issues. UVeye recently secured $100 million in Series D funding to fuel sales and manufacturing in North America and expand into new markets. The company currently has locations in Europe, North America and the Asia Pacific region.

 

#2. $200 million, May 31

Roseland, New Jersey-based CoreWeave’s cloud computing tech aims to accelerate computer-intensive workloads. This $200 million Series B extension brings the round’s total to $421 million, including the $221 million announced in April. CoreWeave is currently hiring for several roles across its engineer, operations and legal teams.

 

#1. $250 million, May 17

Aiming to decarbonize transportation and other large industries, Ambient Fuels’ platform manages the design, financing and construction of its eco-friendly hydrogen centers and helps companies implement green hydrogen solutions. Generate Capital agreed to invest up to $250 million to support Ambient Fuels’ product pipeline.

Methodology: Built In tracked the largest funding rounds of the month using previous reporting, data from Crunchbase and articles from other publications and companies. This list highlights the five largest funding rounds raised in May by tech companies with a headquarters in New York City. We only include venture capital and equity raises and do not include debt or post-IPO funding rounds in this list.

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