SOUTHEAST FUNDING & TECH NEWS: WEEK OF NOV 2

We’re ending the week with all the funding, acquisition, and startup news from across the Southeast you need to know:

Atlanta-based Kobiton, a mobile device testing platform, announced it has acquired another Atlanta company, Mobile Labs. Additionally, Kobiton announced it raised an additional $14 million in funding from Fulcrum Equity Partners and BIP Capital to help with the acquisition. Mobile Labs’ CEO Dan McFall told Hypepotamus that the Mobile Labs will function as a “wholly-owned subsidiary of Kobiton,” and the large majority of the team will stay on board.
“An acquisition was not necessarily in the plans at the start of 2020 and definitely wasn’t once COVID times started, but strategically Mobile Labs has always managed itself under the principle of “build a product that your customers love and you’ll have built a company someone will want to buy” so when the opportunity was presented to the company and our ownership for this merger we were ready for it to happen,” added McFall.

Atlanta-based Flock Safety closed $47 million Series C to grow its crime prevention and crime-solving platform. Hypepotamus has the latest information here.

North Carolina-based Momi, which is working on new breast pumps and other infant feeding technologies, closed a $1 million seed round, led by Kapstone Medical and Enventys Partners. MOMI’s founder and CEO, Carr Lane Quackenbush said in a statement, “I really do believe that these products will replicate nature, and will bring the advantages that we set out to bring to market.”

Miami-based REEF Technology, a startup working on parking and urban logistics, has raised a giant $700 million funding round from SoftBank Vision Fund, Mubadala Investment Co., Oaktree Capital, UBS AM and Target Global VC. 

New Moves Across the Southeast

Invest Atlanta announced this week that Bonika Wilson will join their team as the first chief equity and inclusion officer. According to the Atlanta Business Chronicle, “the purpose of the new role is to help ensure economic investments benefit all Atlanta residents, especially those in disadvantaged communities.”