Check out market updates

Biofire Technologies raises $14M in Series A funding

BROOMFIELD — Biofire Technologies Inc., a Broomfield-based firearms-technology company, has raised $14 million in Series A funding.

The round marks the first venture-capital-led investment into a firearms-technology company, the company said in a press release.

Founders Fund led the round, joined by 10X Capital, Gaingels, Will Manidis, and existing investors Draper Associates, Structure Capital, Service Provider Capital, and Gavin de Becker & Associates.

Biofire’s Smart Gun uses biometrics to unlock for the authorized owner. The company touts the gun as having “the unique potential to prevent thousands of firearm accidents and suicides every year, especially among children and teens.”

“Known for taking the first bet on world-changing companies like SpaceX and others, Founders Fund invests in revolutionary technologies that reshape the way we interact with the world. Biofire’s deeply technical approach to a complex challenge requires outstanding partners,” Biofire founder and CEO Kai Kloepfer said in a written statement. “I am proud to join with Founders Fund and our other exceptional investors to transform this industry.”

Kloepfer founded Biofire in 2016. The company emerged from stealth mode in May.

Source: BizWest