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Tech Topics In This Article: seed funding, Atlanta startups, Deep Tech
Atlanta-based SoloPulse is in growth mode after a $7.15 million capital injection from investors from across the country.
The round was led by First Spark Venture an Eric Schmidt fund based out of California, with Atlanta-based Eve Atlas, the Georgia Tech Foundation, and Crosscut also joining the round. Previous pre-seed lead, Bay area-based investors Cantos provided follow-on funds.
The funding news comes as many startups and investors dig out of a rather chilly 2024. But deep tech dual-use startups like SoloPulse saw “particularly favorable” investment conditions from venture capitalists, said SoloPulse co-founders Allyson McKinney and Michael McKinney. That helped SoloPulse raise its seed round within a few months.
“Many venture capitalists [showed] keen interest in investing in technologies prioritizing national security. Given the current geopolitical climate, dual-use companies with both commercial and defense market applications gained significant importance,” the team added. “However, the standards for deep tech companies have risen, requiring not only compelling technology but also demonstrable market size and traction.”
What Investors Are Saying
Peter Olcott at First Spark Ventures shared his enthusiasm for SoloPulse’s potential, stating, “We invested in an amazing team who can not only make fundamental scientific breakthroughs in radar, but who also has the skills to translate this technology into a massive opportunity in all things autonomy: anything that has to operate without human control with extreme reliability.”
Raghupathy “Siva” Sivakumar, Vice President of Commercialization at Georgia Tech, highlighted the university’s role in fostering SoloPulse’s growth. “SoloPulse is a classic example of how deep tech commercialization can be driven by our amazing students,” he said. “The cofounders, Allyson and Michael, successfully leveraged resources from our innovation ecosystem. They received support from our research impact venture fund, and we helped guide them through intellectual property licensing from Georgia Tech. We are thrilled to see their success.”
Thiago Olsen, Partner at Eve Atlas, expressed continued confidence in the company’s technology, saying that “as a former physicist, I can confidently say their technology rethinks imaging elegantly from first principles, and is truly revolutionary. What the team at SoloPulse is developing has the potential to change how the world sees—from right here in Atlanta.”
What’s Next For SoloPulse
Hypepotamus first met SoloPulse in 2023 as the team was working to bring SoloPulse to life from its origins inside Georgia Tech. The new seed funding is making a new product pivot possible. While details of the pivot are confidential for now, the McKinneys said it will “be the step we need to truly Change How the World Sees.”
As the SoloPulse team works through its pivot, they remain optimistic about the future of Atlanta’s Deep Tech scene.
“Building deep tech in Atlanta is an incredible experience, fueled by the cutting-edge technologies emerging from Georgia Tech and the vibrant energy of the city. The emerging status of Atlanta’s deep tech scene has fostered a unique grit and determination among entrepreneurs, while also cultivating a supportive, family-like culture within the community. The city’s favorable cost of living and relaxed pace of life make it easier to attract and retain top talent. Atlanta boasts exceptional resources like the Curiosity Lab, a living laboratory for startups to test and develop their technologies in a real-world environment,” the SoloPulse team told Hypepotamus. “The city’s strategic location and Delta’s extensive flight network provide convenient access to major tech and political hubs, facilitating crucial connections for deep tech ventures. While finding deep tech investors in Atlanta can be challenging. We are fortunate to have an investment from Thiago Olson with Eve Atlas. Thiago is a brilliant investor based in Atlanta. We have benefited greatly from his mentorship and on-site brainstorming sessions.”
For those looking to join SoloPulse’s mission, the startup’s job board is full of opportunities to explore.
