Fast Funds Oct 1, 2019

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San Diego based Molecular Assemblies reports it raised $12.2 million in Series A funding, thanks to iSelect Fund which led the round, Keshif Ventures, Alexandria Venture Investments, and Agilent Technologies. The startup will use the funding to advance the company’s proprietary enzymatic DNA synthesis technology to power DNA-based products in synthetic biology.

Teampay raised $12 million in Series A funding for its automated purchasing management platform. The funding was raised by Cross Cut Ventures, Silicon Valley Bank, Precursor Ventures, and the lead investor, Tribe Capital. Teampay raised $16 million in funding so far.

Honeycomb.io landed $11.4 million in venture funding for debugging mass groups of apps for its clients. Scale Venture Partners led the funding, with eVentures, Merian Ventures, Storm Ventures, and NextWorld Ventures. The startup’s total funding is now $26.9 million. Scale Venture’s Ariel Tseitlin will join Honeycomb’s board of directors.

PM UPDATE

IOTAS, short for IoT as a Service, brought in $8.5 million to develop a smart home platform for rental properties.  TELUS Ventures led the funding round, backed by Intel Capital and Liberty Global Ventures. The startup is based in Portland, Oregon. The startup will use the funding to grow its IOTAS Enterprise SaaS platform for smart communities.