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New money: South Florida startups raised more than $200M in April

By Ashley Portero - Senior Reporter May 06, 2022, 04:30pm EDT

South Florida was stacked with strong funding deals in April after raising more than $1 billion in the first quarter of 2022.

Businesses in Miami-Dade, Broward and Palm Bech counties attracted more than $220 million in capital last month, according to South Florida Business Journal reports and regulatory filings. That's a sizable number for a single month by most midsize regional standards.

That's about one-fifth of the funding the region raised in all of the first quarter, with $1.2 billon secured across 84 deals. That followed a record-setting 2021, when Miami-area ventures raised more than $4 billion from venture capital investors.

Here's a look at some of the biggest deals in April:

  • Cryptocurrency payment startup MoonPay raised $87 million from more than 60 celebrity investors, including Ashton Kutcher, Gal Gadot, Snoop Dogg, Justin Bieber, Gwyneth Paltrow and Matthew McConaughey. The company creates products that let people buy and sell cryptocurrencies using credit cards, bank transfers and mobile wallets. Its software also gives businesses access to the infrastructure they need to buy and sell cryptocurrency while staying compliant with regulators, according to its website.

  • Miami-based SmartHop, a mobile app for small truckers, raised $30 million in a series B round led by Sozo Ventures, with participation from existing investors such as Union Square Ventures, RyderVentures and Las Olas Venture Capital.

  • Mental wellness startup Nue Life secured $23 million in a raise led by San Francisco venture capital firm Obvious Ventures. Miami Beach-based Nue Life uses ketamine therapy to help patients with treatment-resistant depression.

  • Fintech NovoPayment raised $19 million in series A financing led by Fuel Venture Capital and IDC Ventures. The banking platform will use the funds to grow its U.S. footprint.

  • Guard Medical of Miami, a developer of surgical wound care solutions, raised $11 million in series B funding from investors Bpifrance and Matignon Investissement et Gestion.

  • 8base, a low-code development platform based in Miami, raised $10.6 million in a series A funding round led by Foundry Group. CEO Alberto Santalo said the firm will double its product development, sales and engineering teams with the new capital.

  • Fort Lauderdale-based Altis closed a $10.5 million seed round backed by investors such as former Epic Games President Mike Capps, former Amtrak CEO Bill Flynn, and Olympic athletes J.R. Celski and Georganne Moline. The capital will support the company's artificial intelligence-powered personal training app.

  • Web hosting company Hydra Host raised $10 million in seed funding in a round led by Founders Fund. The startup plans to boost hiring with the capital.

  • Mytaverse raised $7.6 million to fund its metaverse platform for businesses. The seed round was led by San Francisco-based venture capital firm Blumberg Capital, with participation from Baselayer Ventures, Correlation Ventures and others.

  • Influur, a Miami startup that connects online influencers with brands, raised $5 million in a seed round backed by celebrity investors such as actress Sofia Vergara and music entrepreneur Tommy Mottola.

  • Ugami, a Miami company that creates financial products for gamers, raised $4.8 million in a seed round led by Halem Capital Partners and ULU Ventures. With Ugami's debit card, gamers can earn points on all purchases that can be redeemed at Best Buy, PlayStation, Nintendo and more.

  • Meushi, an NFT marketplace, raised $3.3 million in a seed round led by Harlem Capital. The startup is building a marketplace that will allow users to buy, sell and fractionally invest in fine art NFTs.

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