Category: basf

May 16, 2019 Off

Unveiling its latest cohort, Alchemist announces $4 million in funding for its enterprise accelerator

By Jill T Frey

The enterprise software and services-focused accelerator Alchemist has raised $4 million in fresh financing from investors BASF and the Qatar Development Bank, just in time for its latest demo day unveiling 20 new companies.

Qatar and BASF join previous investors, including the venture firms Mayfield, Khosla Ventures, Foundation Capital, DFJ and USVP, and corporate investors like Cisco, Siemens and Juniper Networks.

While the roster of successes from Alchemist’s fund isn’t as lengthy as Y Combinator, the accelerator program has launched the likes of the quantum computing upstart Rigetti, the soft-launch developer tool LaunchDarkly and drone startup Matternet .

Some (personal) highlights of the latest cohort include:

  • Bayware: Helmed by a former head of software-defined networking from Cisco, the company is pitching a tool that makes creating networks in multi-cloud environments as easy as copying and pasting.
  • MotorCortex.AI: Co-founded by a Stanford engineering professor and a Carnegie Mellon roboticist, the company
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