Funding round
MatrixSpace Series A
MatrixSpace, which works in AI-Powered sensing solutions development in Burlington, raised $10M in a Series A round announced on 7 Jun 2023, led by Raptor Group. 2 firms took part. It is MatrixSpace's first venture round on record.
$10M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
MatrixSpace did not disclose a valuation in this round. It is MatrixSpace's first venture round on record, 4 years after it was founded in 2019. It is 33% of the $30M MatrixSpace has raised in the venture rounds on record. MatrixSpace raised again 28 months later: a Series B round of $20M in Oct 2025.
MatrixSpace's funding rounds
MatrixSpace has 2 venture rounds on record. This one is highlighted.
- Series A this round 7 Jun 2023, led by Raptor Group $10M
- Series B 15 Oct 2025, led by Raptor Group and OTB Ventures $20M
Investors
Who put money in
Raptor Group led the round with 1 other firm.
Lead investor
- backs 42 venture-backed companies new investor
Also in the round
- Intel Capital backs 239 venture-backed companies new investor
Joined the board: Rob Broggi (Raptor Group).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,500 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was close to the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 9 Jun 2023 | $45M | not disclosed | not named |
| Tech Companies | 11 Jun 2023 | $43M | not disclosed | Andreessen Horowitz and a16z crypto |
| Tech Companies | 1 Jun 2023 | $33M | not disclosed | Andreessen Horowitz |
| Tech Companies | 28 Jun 2023 | $25M | not disclosed | CRV |
| Tech Companies | 27 Jun 2023 | $23M | not disclosed | Paladin Capital Group |
| Tech Companies | 29 Jun 2023 | $20M | not disclosed | LB Investment |
| Tech Companies | 1 Jun 2023 | $20M | not disclosed | not named |
| Tech Companies | 23 Jun 2023 | $20M | not disclosed | PeakSpan Capital |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did MatrixSpace raise in its Series A round?
MatrixSpace raised $10M in its Series A round, announced in Jun 2023.
Who led MatrixSpace's Series A round?
Raptor Group led it, with Intel Capital.
What was MatrixSpace's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,500 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $11M, and this round was close to the median.
Did MatrixSpace raise again after this round?
Yes: a Series B round in Oct 2025 of $20M.