DEI / Finance / Funding / Investing / Venture capital

Money Moves: Xometry closed a $75M equity round led by T. Rowe Price Funds

Other recent funding raises for OncoImmune, VEDA Data Solutions, Affirm Logic Corp., RNAimmune, SparkMeter, Datasembly and Clowder range from $1.1 million up to $56 million.

Xometry CEO Randy Altschuler. (Courtesy photo)

Money Moves is a column where we chart the funding raises of tech companies across the region. Have a tip? Email us at

On-demand manufacturing marketplace Xometry announced this week that it had closed a $75 million equity round led by funds and accounts advised by T. Rowe Price Associates, Durable Capital Partners and ArrowMark Partners.

This latest funding comes as Xometry welcomes Jim Rallo, former CFO and president of Liquidity Services, as its new CFO. Following its $55 million Series D last year, this equity funding brings the company’s total venture capital raise to $193 million since its founding in 2013.

“Xometry is focused on helping manufacturers navigate the current disruption associated with supply chain flexibility, reshoring and shift to digital manufacturing,” said Xometry CEO Randy Altschuler in a statement. “This funding will enable us to continue to accelerate our business through investments in our software platform, new products, and other initiatives.”

(Read Altschuler’s essay on why he hopes COVID-19 will “be the spark that ignites a renaissance” of American manufacturing.)

Xometry isn’t the only local company closing big funding deals. In this Money Moves roundup, funding ranges from seed capital to Series B rounds. These recent raises for OncoImmune, VEDA Data Solutions, Affirm Logic Corp., RNAimmune, SparkMeter, Datasembly and Clowder range from $1.1 million up to $56 million. Check out the details on each deal below.


Rockville, Maryland-based OncoImmune closed a $56 million Series B funding round led by HM Capital and a private investor with participation from new and existing investors.

Launched in 2000, the company develops therapeutics for cancer and more recently, COVID-19. OncoImmune will use the fresh funding to expand its products and support its therapeutic programs in late-stage clinical trials. The company currently has two phase III clinical programs focused on protecting against immune destruction in critical coronavirus patients and in leukemia patients. OncoImmune said that its COVID-19 trial has been initiated in 17 medical centers with plans to enroll over 270 patients.


VEDA Data Solutions secured $8.5 million in new funding according to a recent Securities and Exchange Commission filing. Founded about five years ago, VEDA runs a platform that uses AI and machine learning to increase accuracy of healthcare directories.

This new funding follows a $5 million Series A the company closed earlier this year to expand its AI automation platform. VEDA was cofounded by political entrepreneur Meghan Gaffney Buck who now serves as CEO and astronomer Dr. Bob Lindner, the company’s CTO. In 2017, Gaffney Buck competed at the Vinetta Project Venture Challenge, taking home the $20,000 grand prize.

The growing company is currently hiring for a cloud application engineer and a data pipeline engineer.


McLean, Virginia-based Affirm Logic Corp. secured a $25 million equity financing round from a group of private investors. The company plans to to use the funding to grow from a 19 employees to 25 with the addition of some engineering, sales and marketing staff members, the Washington Business Journal reported.

Launched in 2016 as a spinoff of Manassas, Virginia-based R&K Cyber Solutions, Affirm Logic Corp. uses algorithms and mathematics to compute software behavior and ultimately help organizations reduce cyber risk and malware attacks.

“Our ability to mathematically compute the behavior of software is a game-changer for organizations that demand greater visibility into malware and advanced cyber threats,” the company’s CEO Larry Roshfeld said in a press release. “Our investors recognize the untapped market opportunity that exists for AffirmLogic to reduce cyber risk and uncertainty for enterprises by applying behavior computation to a broad range of mission-critical use cases.”


Gaithersburg, Maryland-based RNAimmune closed a $2.35 million seed funding round.

The biopharmaceutical company established earlier this year discovers and develops mRNA-based therapeutics and vaccines. RNAimmune is a spinoff entity of Sirnaomics, a biotech company conducting clinical drug development in the field of RNAi therapeutics for the treatment of cancer and fibrosis diseases.

The company plans to use this first major funding round to advance its COVID-19 and cancer vaccine programs. Dr. Dong Shen, founder and CEO of RNAimmune, said the company will also focus on fostering more relationship in the investor community to secure more funding.


Lafayette Square-based SparkMeter, provider of electric grid management software solutions in Africa, Asia and the Americas, closed a $12 million Series A. The funding round was led by Clean Energy Ventures and Breakthrough Energy Ventures with participation from Alitheia Capital, Total Energy Ventures and other investors.

“The lack of access to reliable electricity is a major barrier to economic advancement and empowerment across the globe, and SparkMeter is enabling the deployment of smart grids in these markets to allow utilities to provide better service and thus operate more sustainably,” said Dan Schnitzer, cofounder and CEO of SparkMeter, in a statement.

SparkMeter will use the Series A to launch its Digital Solutions offering that will connect smart grid data insights to business operations for large electricity distribution utilities.


Datasembly closed raised a $10.3 million Series A led by Craft Ventures with participation from Valor Siren Ventures.

Based in WeWork Metropolitan Square, the six-year-old company provides real-time grocery and retail pricing from hundreds of online and brick and mortar retailers. The company plans to use the fresh funding to advance its product development and expand its sales and marketing efforts. David Sacks, cofounder and general partner of Craft Ventures, will join the Datasembly’s board of directors.

“Datasembly is leveraging technology to transform what companies can see, share, and do in a way that wasn’t practical or even possible before,” said Sacks in a statement. “Ben [Reich, founder and CEO] and the Datasembly team are changing the industry’s expectations of what’s possible when it comes to competitive pricing information.”


Alexandria, Virginia-based Clowder raised a $1.1 million in seed funding to expand its business development initiatives throughout its sales, client success and technology departments. The funding round was led by seed firm Active Capital.

Clowder is the provider of private social networks for member groups. With the consistent cancellation of in-person engagements due to the pandemic, Clowder’s platform helps its users stay connected with it’s all-in-one hub.

“Our apps are able to take organizations who’ve long relied on web and email-based engagement strategies and place them in the 21st century with an on-hand tool that provides instant access,” Clowder founder and CEO Sergei Dubograev said in a statement.

Companies: Veda Data Solutions

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