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DUST Identity's $10 million financing tops recent funding news in Boston

Photo: Alex Kotliarskyi/Yelp
By Hoodline - Published on July 24, 2019.

Boston-based supply chain management company DUST Identity has secured $10 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 17 and led by Kleiner Perkins.

According to its Crunchbase profile, "DUST — the Diamond Unclonable Security Tag — is a proprietary technology which utilizes nanodiamonds to create an unclonable identity layer on any object. An optical scanner and cloud-based infrastructure provides an interface to the object identity and provenance."

The two-year-old startup also raised a $2.3 million seed round in 2018.

The round brings total funding raised by Boston companies in privacy and security over the past month to $13 million, an increase of $6.5 million from the month before. The local privacy and security industry has seen 12 funding rounds over the past year, securing a total of $40 million in venture funding.

In other local funding news, mechanical engineering company Fortify announced a $10 million Series A funding round on July 17, led by Accel.

According to Crunchbase, "3DFortify is an advanced manufacturing startup that aims to disrupt additive manufacturing, ushering in a new generation of custom, high performance products. We have developed a patented process that combines 3D printing and magnetics to create aligned reinforced carbon fiber composites."

Founded in 2016, the company has raised three previous rounds, including a $2.5 million seed round earlier this year.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.

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