Funding Friday: Aravaipa raises $11.6M for pre-SPAC fund

Welcome to Funding Friday, BizWest’s roundup of companies in Northern Colorado and the Boulder Valley kicking off fundraisers.

BizWest reports fundraisers by companies in Boulder, Broomfield, Larimer and Weld counties, as well as Brighton and Westminster through regulatory filings, press releases and other sources. Did we miss a company’s round? Email us at news@bizwest.com.

• Aravaipa Growth Equity Fund II LP has raised $11.6 million of a $75 million equity funding round. The minimum investment is $250,000. The Boulder pre-SPAC fund is targeting three to six companies that can merge with a SPAC within 18 months and rapidly scale. 
• Boulder company Electrasteel Inc. raised $28.2 million in equity funding. The company, which was formed last year, seeks to electrify and de-carbonize the steelmaking process.
• Threat X Inc., a Louisville cybersecurity company, raised $10 million in an equity funding round. Threat X provides solutions to protect companies’ web apps, deter programming attacks, block bots and mitigate DDoS attacks. Its clients include Denver Health, Lenovo and P.F. Chang’s.
• Kachuwa Impact Fund, an investment cooperative and public benefit corporation in Boulder, has raised $350,000 of a $5 million equity funding round that launched last week. The minimum investment is $5,000. Kachuwa, which was founded in 2019, invests primarily in impact real estate. 
• Boulder company Rolling Energy Resources Inc., which creates solutions to help utilities manage electric vehicle charging, has raised all but $30 for a $650,026 equity funding round it launched at the beginning of the month.
• SmartDeFi Inc., a Fort Collins investment app that aims to help investing novices get into decentralized finance, has raised $980,000 of an indefinite funding round. Capital is being raised through simple agreements for future equity. 
• Ethopass LLC, a Boulder company that creates passwordless authentication software, raised $835,000 of a $1 million debt funding round.

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