Our February list of great startups includes successful companies acting in different areas of the business-to-business market. Devyce, Rebuy, EnvisionIt Deep AI, Source.ag, Future Fields, Earthly, ProsperOps and Metomic are united in their high-tech orientation and their desire to improve processes and bring additional value. These startups have received a new round of funding to further develop their products and expand the market.
Telecommunications
Devyce
Country: UK
Founding date: 2020
Devyce is an SaaS startup that offers digital phone numbers for startups, businesses and freelancers. Numbers can be used from anywhere in the world via Wi-Fi and mobile data. The company follows green principles and strives to maintain sustainable processes. That means reducing the use of physical SIM cards and handsets, using 100% cloud-based software, and removing the need for physical disk phones and multiple wires to their software solution. The company made it into Y Combinator’s Summer 2022 accelerator cohort.
Devyce phone numbers may be disconnected during non-business hours. Users can also view call statistics, analyze performance, and integrate call summaries generated by artificial intelligence into their CRM. Devyce is using its own global network, so there is no need for additional fees for connection. This allows customers to reduce costs by a reported average of 70%. Recently, the company raised $2.7 million in a Seed funding round. The funding will be used to cover new markets and expand its product engineering team.
E-commerce
Rebuy
Country: USA
Founding date: 2017
Rebuy is a commerce tech startup with an SaaS platform for online retailers on Shopify. The platform combines AI, low-code and no-code technologies, and makes it possible to create personalized shopping experiences using intelligent upsells, cross-sells, and post-purchase follow-ups. The AI algorithm gives recommendations on how to increase the average order value and improve the shopping cart and checkout processes, and it helps customers go to an Amazon page by recommending complementary products.
During the past year, Rebuy has released 218 new products or improved features and launched integration with e-commerce solutions, including Klaviyo and Attentive. Recently, the company raised $17 million in a Series A funding round. The funding will be used for technology development and new products (Rebuy Search, Rebuy Intelligence Graph and Visual Editor), investments in the Shopify ecosystem, and extending the team.
AI, healthcare
EnvisionIt Deep AI
Country: South Africa
Founding date: 2019
Envisionit Deep AI is a health tech startup aimed at combining AI with radiology and changing how images are interpreted in making a diagnosis. The team was the winner of the African Startup Awards. They came up with the Radify AI platform, which offers fast, accurate and affordable medical imaging diagnosis in the early detection and treatment of various diseases, such as tuberculosis, coronavirus pneumonia, breast cancer and others. It can be integrated with devices such as X-ray machines and used in tele-radiology for remote patients.
Radify AI already has approval from the South African Health Products Regulatory Association. But the company is planning to go global and to get approval from the FDA and European Medical Agency. Recently, the company raised $1.65 million in a Seed funding round for the further development of technologies and the introduction of their product into practice. For example, the launch of an edtech tool to train radiology skills.
AgTech
Source.ag
Country: The Netherlands
Founding date: 2020
Source.ag provides an AI platform that can predict the best growing conditions for greenhouse plants. The technology helps to regulate the water regime and humidity, which makes the growing process more efficient and leads to an increase in yield. AI algorithms simulate plant behavior based on a variety of climate, biology, and resource data. Source cooperates with greenhouse growers and agriculture companies. Among them are Growers United and Agro Care.
Recently, the company raised $23 million in a series A funding round. Source is planning to launch two new products: Source Cultivate and Source Control. They serve to simulate full crop growth seasons, considering specific genes and crop varieties, in order to grow crops in the best possible way and support more types of crops and farming methods.
Biotechnology
Future Fields
Country: Canada
Founding date: 2018
Future Fields has developed EntoEngine, a biomanufacturing platform for recombinant protein production from fruit flies. The obtained protein has a broad spectrum of applications: cellular agriculture, stem cell research, for cell culture and embryology labs, therapeutics and other purposes. Insects can be grown in simple plastic containers that make the production process scalable, sustainable and cost-effective.
Recently, Future Fields raised $11.2 million in a Series A funding round. The company is planning to use financing to grow the team and build its first production facility, to produce the recombinant proteins at scale. Such production involves less greenhouse gas emissions than the existing bioreactor technology.
Cloud technologies
Earthly
Country: USA
Founding date: 2020
Earthly provides CI/CD (continuous integration / continuous deployment) automation for day-to-day development. They have three products in the line: the open-source Earthly–CI/CD framework, with repeatable builds running anywhere; Earthly CI, a paid SaaS version; and Earthly Satellites, the remote build runner working with any CI. All CI pipelines run in containers, making them self-contained, isolated, repeatable, and portable.
The company claims to have achieved 20 times faster CI pipelines and high performance by running only what has changed instead of the whole setup every time. Also, its technology makes it possible to reuse computations from previous runs, so it’s necessary to rebuild only what has actually changed. Recently, the company has raised $6.5 million in an additional Seed funding round. The funding will be used to improve and add more features to Earthly CI.
ProsperOps
Country: USA
Founding date: 2018
ProsperOps offers a cloud cost optimization platform to maximize AWS cloud savings and simplify cloud financial management. It takes responsibility for reserved and savings plan management for Amazon Elastic Compute Cloud (EC2), Fargate and Lambda. Users need to configure some high-level parameters, and after that, the platform will perform current actions, such as daily management of discounts for fixing, planning of corresponding capacities, and others.
Prospero considers customers’ return on investment in terms of how their AI and automation work. They also offer discounts on committed use, which means reduced prices in exchange for a commitment to use a minimum level of resources for a certain period. Recently, the company raised $72 million in a series A funding round. The funding will be used to expand engineering teams and to integrate other cloud service providers into their platform.
Data Security
Metomic
Country: UK
Founding date: 2018
Metomic provides data security solutions to protect sensitive data in the SaaS networks used by organizations. It helps with managing data and detecting security threats. Employees get direct notifications when uploading sensitive data into a wrong or dangerous environment. The platform is connected to the data layer of collaborative SaaS applications, so that security teams can see what data is being stored, where it is, and who has access to it. The Metomic solution works with Google Apps, Slack, Jira, Notion and Zendesk.
The company has developed its own system of classifications, but companies can identify their own types of sensitive data, given that secure data sharing becomes even more important for remote and hybrid work. Recently, the company raised $20 million in a series A funding round. Funding will be used for expansion of the US market and further technological development, in particular their own AI system for safe and compliant data sharing.
