Form D Friday: WPI alum raises $6M for infrastructure tech startup

Sustainable industrial systems, a software to help engineers map infrastructure, and a platform to support corporate employees. These are the products of the early-stage companies that raised funding this week.

Overall, the startups we tracked between April 22 and April 26 raised about $23 million.

Here are some of the companies that raised money this week:

Cyvl Inc.: $6 million

The Somerville-based transportation infrastructure startup raised $6 million in equity from 33 investors, according to a Form D dated April 25. Companyon Ventures led the round, which saw participation from Argon Ventures, Aero X Ventures and Alumni Ventures.

Formerly known as Roadgnar, Cyvl uses 3D mapping sensors and A.I. to help governments and civil engineers manage infrastructure, including roads, sidewalks, trees and buildings.

Co-founder and CEO Daniel Pelaez, a graduate of Worcester Polytechnic Institute, is a former systems engineer at RTX Corp., the company previously known as Raytheon (NYSE: RTX).

The latest fundraise came about one year and a half since the startup raised approximately $2.7 million.

New Life Solution Inc.: $1.5 million

New Life Solution Inc., which does business as meQuilibrium, raised $1.5 million in debt, options and convertible promissory notes, according to a Form D dated April 24.

Four investors participated.

Founded in 2011, meQuilibrium makes software that uses AI, predictive analytics and neuroscience to help corporate employees work through the specific challenges at their organization.

The company launched in its first biometric tool in 2022.

LiftWave Inc.: $14.4 million

LiftWave Inc., which does business as Rise Robotics, raised approximately $14.4 million in equity from 22 investors, according to a Form D dated April 22.

The total amount of the offering is $15.9 million.

The Somerville-based company makes electrical systems it says can replace traditional hydraulics in industrial settings.

Abside Networks Inc.: $1 million

Telecommunications provider Abside Networks Inc. raised just over $1 million in equity from five investors, according to a Form D dated April 25. The round followed a $2 million fundraise from last year.

The company makes hardware and software networking products for large companies and government organizations, with a focus on 4G LTE and 5G technologies.

President and CEO Laurent Perraud spent the early days of his career at International Business Machines Corp. (NYSE: IBM)

Form D Friday is a Boston Business Journal feature highlighting regulatory filings from Boston-area companies raising capital for new projects or expanding their businesses. Form D reports are a type of SEC form used to file a notice of exempt offerings of securities. The SEC requires companies file the notice within 15 days after the first sale of securities in the offering. These forms don’t include a lot of details but can provide clues as to what investors and business owners are planning.

If you have any tips or comments about new Boston-area fundraises, email Lucy Maffei at lmaffei@bizjournals.com