US fintech funding round-up: Brassica, Martini.ai and more
This week’s handy Friday funding round-up includes four US-based fintech start-ups – Brassica, Martini.ai, Cat Labs and iManage.
Brassica Technologies, a newly-launched fintech developing enterprise solutions for alternative assets, has secured $8 million in a seed round led by Mercury Fund.
Brassica secures $8m seed round
The round saw participation from Valor Equity Partners, Long Journey Ventures, NGC Fund, Neowiz, Broadhaven Ventures, Armyn Capital, VC3DAO, Alpha Asset Management, and other global fintech investors.
The seed funding brings the total capital raised by Brassica to date to over $12 million.
Founded in 2021 and based in Houston, Brassica offers businesses a modern back-end financial infrastructure for alternative assets via an API.
With the funds, Brassica plans to scale its product, engineering, business development, and customer success teams and accelerate new service offerings, as well as expand globally.
California-based fintech firm Martini.ai has raised $6 million in seed funding.
The round was led by Neotribe with participation from Rocketship.vc.
Using AI, the start-up helps corporate lenders with credit risk monitoring by providing real-time credit scores and spreads on over 700,000 private companies.
Martini.ai will use the funding to support the commercial launch and continued development of the company’s NeuRatings solution which provides a credit rating system for private companies.
Miami-based CAT Labs, a start-up building forensic and cybersecurity tools to fight crypto-enabled crime, has raised $4.3 million in its pre-seed round.
Cat Labs secures funding
The round was led by Castle Island Ventures, Brevan Howard Digital, CMT Digital, and RW3 Ventures. Other participating investors include Newark Venture Partners, Hash3, Borderless Capital, Cryptoverse Ventures and Outshine Ventures.
The firm is building a digital asset recovery tool that specialises in finding, identifying, analysing, and seizing digital assets in criminal cases, allowing US government agencies, state and local police departments, as well as US-allied countries, to “accurately and efficiently” process digital assets involved in criminal investigations.
Additionally, it is also developing cybersecurity tools to prevent hacks, scams and fraud, and protect investors from theft of their digital assets.
Chicago-based Software-as-a-Service (SaaS) firm iManage has received an undisclosed sum as a strategic growth investment from Bain Capital Tech Opportunities.
The firm will use the money to accelerate its growth and further develop its cloud-based, AI-enabled knowledge work platform. iManage has invested in cloud, governance, AI and workflow technologies to serve over 4000 legal, accounting and financial services organisations in more than 65 countries.
