Outrider raised $53 million in February, according to the company. (Courtesy Outrider)
Colorado startups raised over $429 million last month, down from the $510 million they raised in October 2023.
This was across 49 deals, according to SEC Form D filings. Denver led the way with 21 deals and $241 million raised. Boulder put up nearly $17 million across nine deals. Forty-three companies based elsewhere in the Centennial State tallied $171 million.
You can view our sortable spreadsheet, which lists every October Form D, here.
BusinessDen defines a startup as a business that’s less than 10 years old and excludes publicly traded companies, real estate ventures and funds.
Here are some October highlights:
Outrider Technologies: $62 million
The Brighton-based autonomous trucking company raised $62 million in a Series D round led by Koch and Nvidia’s venture capital arms, Reuters reported.
But fear not, highway drivers: These self-driving trucks are made specifically for distribution centers and will never see public roads. Yard trucks, as they are known in the industry, shuffle trailers to trucks at these lots. Outrider’s goal is to ensure efficiency and improve safety during freight transfer by using its autonomous technology.
The funds will be used to scale up operations in 2025, according to Forbes. Andrew Smith, who founded Outrider in 2016, told the outlet Outrider will work in hubs responsible for e-commerce, retail and consumer packaged goods, among other things.
He also said that while the current focus is on distribution centers, the technology also works well for rail freight and port terminals.
The company has raised over $250 million total, according to Reuters.
Koloma: $52 million
Denver-based Koloma raised $52 million in a Series-B round led by Japanese companies Osaka Gas and Mitsubishi Heavy Industries America.
The company drills for hydrogen, which is seen as a potential clean energy substitute for fossil fuels. It aims to tap into reservoirs beneath the earth’s surface, similar to oil and gas production.
Geoffrey Ellis, a research geologist for the USGS, told Politico in February that if just 2 percent of the “most probable” amount of hydrogen in the world can be extracted, it could produce enough hydrogen to reach net-zero emissions for 200 years.
Tom Darrah, Koloma’s co-founder and chief technology officer, developed the technology when he was a professor at Ohio State University. Koloma is building out another lab there, according to Forbes.
This marks the second raise of the year for Koloma. In February, it finished a $245 million funding round, which included investments from Amazon’s Climate Pledge Fund and United Airline’s Sustainable Flight Fund.
Bill Gates’ Breakthrough Energy Ventures led a $91 million round when the company went out of stealth in 2023, Forbes reported. It has raised over $300 million in total, SEC filings show.
OnKure Therapeutics – $65 million
Boulder-based OnKure Therapeutics raised $65 million in connection with its acquisition of Reneo Pharmaceuticals at the beginning of the month.
The company is in clinical stages of developing drugs that target cancer-causing cells. Its most successful candidate targets breast cancer, according to OnKure’s website.
OnKure went public at $139 a share in April 2021. When the acquisition was finalized on Oct. 7 this year, it was trading at $18.65 per share.
The company was founded in 2017 and raised $116 million across three previous rounds of funding. Its $7 million Series A, which closed in 2018, was led by Delian Capital. Acorn Bioventures led OnKure’s $55 million Series B round in 2021, and Deep Truck Capital led its $54 million raise in 2023.
October’s $65 million investment brings the total to $181 million.
Raisonance: $3 million
The Denver Tech Center-based diagnostic company aims to reinvent health testing and tracking one cough at a time. Read our full story here.
Outrider raised $53 million in February, according to the company. (Courtesy Outrider)
Colorado startups raised over $429 million last month, down from the $510 million they raised in October 2023.
This was across 49 deals, according to SEC Form D filings. Denver led the way with 21 deals and $241 million raised. Boulder put up nearly $17 million across nine deals. Forty-three companies based elsewhere in the Centennial State tallied $171 million.
You can view our sortable spreadsheet, which lists every October Form D, here.
BusinessDen defines a startup as a business that’s less than 10 years old and excludes publicly traded companies, real estate ventures and funds.
Here are some October highlights:
Outrider Technologies: $62 million
The Brighton-based autonomous trucking company raised $62 million in a Series D round led by Koch and Nvidia’s venture capital arms, Reuters reported.
But fear not, highway drivers: These self-driving trucks are made specifically for distribution centers and will never see public roads. Yard trucks, as they are known in the industry, shuffle trailers to trucks at these lots. Outrider’s goal is to ensure efficiency and improve safety during freight transfer by using its autonomous technology.
The funds will be used to scale up operations in 2025, according to Forbes. Andrew Smith, who founded Outrider in 2016, told the outlet Outrider will work in hubs responsible for e-commerce, retail and consumer packaged goods, among other things.
He also said that while the current focus is on distribution centers, the technology also works well for rail freight and port terminals.
The company has raised over $250 million total, according to Reuters.
Koloma: $52 million
Denver-based Koloma raised $52 million in a Series-B round led by Japanese companies Osaka Gas and Mitsubishi Heavy Industries America.
The company drills for hydrogen, which is seen as a potential clean energy substitute for fossil fuels. It aims to tap into reservoirs beneath the earth’s surface, similar to oil and gas production.
Geoffrey Ellis, a research geologist for the USGS, told Politico in February that if just 2 percent of the “most probable” amount of hydrogen in the world can be extracted, it could produce enough hydrogen to reach net-zero emissions for 200 years.
Tom Darrah, Koloma’s co-founder and chief technology officer, developed the technology when he was a professor at Ohio State University. Koloma is building out another lab there, according to Forbes.
This marks the second raise of the year for Koloma. In February, it finished a $245 million funding round, which included investments from Amazon’s Climate Pledge Fund and United Airline’s Sustainable Flight Fund.
Bill Gates’ Breakthrough Energy Ventures led a $91 million round when the company went out of stealth in 2023, Forbes reported. It has raised over $300 million in total, SEC filings show.
OnKure Therapeutics – $65 million
Boulder-based OnKure Therapeutics raised $65 million in connection with its acquisition of Reneo Pharmaceuticals at the beginning of the month.
The company is in clinical stages of developing drugs that target cancer-causing cells. Its most successful candidate targets breast cancer, according to OnKure’s website.
OnKure went public at $139 a share in April 2021. When the acquisition was finalized on Oct. 7 this year, it was trading at $18.65 per share.
The company was founded in 2017 and raised $116 million across three previous rounds of funding. Its $7 million Series A, which closed in 2018, was led by Delian Capital. Acorn Bioventures led OnKure’s $55 million Series B round in 2021, and Deep Truck Capital led its $54 million raise in 2023.
October’s $65 million investment brings the total to $181 million.
Raisonance: $3 million
The Denver Tech Center-based diagnostic company aims to reinvent health testing and tracking one cough at a time. Read our full story here.
