Here’s a roundup of recent news from Wisconsin’s high-tech industries: —Rockwell Automation (NYSE: [[ticker:ROK]]), the Milwaukee-based seller of hardware and software that enables industrial automation, is forming a joint venture with Houston-based Schlumberger (NYSE: [[ticker:SLB]]), a maker of products for drilling and other tasks in the oil and gas industry. The new venture, called Sensia, … Continue reading “WI Watchlist: Rockwell, Wellbe, Generac, API Healthcare & More”
Author: Jeff Bauter Engel
Jeff, a former Xconomy editor, joined Xconomy from The Milwaukee Business Journal, where he covered manufacturing and technology and wrote about companies including Johnson Controls, Harley-Davidson and MillerCoors. He previously worked as the business and healthcare reporter for the Marshfield News-Herald in central Wisconsin.
He graduated from Marquette University with a bachelor degree in journalism and Spanish. At Marquette he was an award-winning reporter and editor with The Marquette Tribune, the student newspaper. During college he also was a reporter intern for the Muskegon Chronicle and Grand Rapids Press in west Michigan.
Google Confirms New Madison Office, Part of $13B National Expansion
Google confirmed this week that it will expand its satellite office in Madison, WI, as part of a $13 billion investment in data centers and offices nationwide in 2019. Xconomy reported Jan. 31 that the Bay Area tech giant intends to triple the size of its downtown Madison outpost by adding a second office, located … Continue reading “Google Confirms New Madison Office, Part of $13B National Expansion”
WI Watchlist: FluGen, Propeller Health, Gener8tor, EnSync
Here are some of the latest headlines from Wisconsin’s innovation community: —FluGen, a Madison-based company trying to develop a universal influenza vaccine, announced topline, preliminary data from a Phase 2 study that demonstrated its M2SR vaccine proved effective in countering a “mismatched” flu virus. The flu virus that makes its rounds each year doesn’t always … Continue reading “WI Watchlist: FluGen, Propeller Health, Gener8tor, EnSync”
Bain Capital Backs ImageMoverMD’s Medical Image Management Tools
ImageMoverMD, a Madison, WI-based startup trying to modernize the processes for capturing and managing medical images, said Friday it pulled in a $4 million venture investment led by Bain Capital Ventures, Cultivation Capital, and previous backer HealthX Ventures. The startup said it plans to use the new cash to expand the capabilities of its software … Continue reading “Bain Capital Backs ImageMoverMD’s Medical Image Management Tools”
WI Watchlist: Epic Systems, M-WERC, Nordic, Dianomi Therapeutics
It’s time to catch up on some recent headlines from Wisconsin’s innovation community: —Dianomi Therapeutics, a Madison-based life sciences startup, said it received a $3 million investment from San Diego-based Ligand Pharmaceuticals (NASDAQ: [[ticker:LGND]]). The investment includes $2 million in equity funding and $1 million in convertible debt financing, according to a Dianomi spokesperson. As … Continue reading “WI Watchlist: Epic Systems, M-WERC, Nordic, Dianomi Therapeutics”
Fasetto Downloads $6M for Connected Devices and Cloud Tools
Fasetto, a startup developing tech gadgets and software in Superior, WI, has pulled in $6 million in equity funding, according to a document filed this week with the SEC. There was one investor in the deal, the filing shows. Six-year-old Fasetto previously raised at least $13 million from investors, per SEC filings. Xconomy has e-mailed … Continue reading “Fasetto Downloads $6M for Connected Devices and Cloud Tools”
George Mosher, Milwaukee Startup Investor & Philanthropist, Has Died
George Mosher, a Milwaukee businessman and one of Wisconsin’s most prolific startup investors, died on Thursday after a fight with pancreatic cancer. He was 79. A Boston native, Mosher moved to Milwaukee in 1965 after graduating from Harvard University’s business school. He became president of Business and Institutional Furniture, a catalog furniture company that served … Continue reading “George Mosher, Milwaukee Startup Investor & Philanthropist, Has Died”
UAS Laboratories Grabs $21.7M for Probiotics Manufacturing Business
UAS Laboratories, a Wausau, WI-based probiotics maker, has pulled in $21.7 million in new equity financing, according to a document filed with securities regulators. Twelve investors participated in the deal, the document shows. The funding comes almost two years since UAS Labs last raised money, a $21.2 million equity financing round. UAS Labs formulates, blends, … Continue reading “UAS Laboratories Grabs $21.7M for Probiotics Manufacturing Business”
Google’s Madison Expansion to Triple Size of Local Offices
[Updated 1/31/19, 12:12 pm CT. See below.] Google is building out a new office near downtown Madison, WI, in an expansion project that will triple the size of its local outpost—giving it enough space for an estimated total of 200-plus local employees, Xconomy has learned. The Bay Area-based tech giant, part of parent company Alphabet … Continue reading “Google’s Madison Expansion to Triple Size of Local Offices”
Packers, Microsoft Play to Green Bay’s Strengths With TitletownTech
As Jill Enos tries to improve the environment for entrepreneurs in Green Bay, WI, she says she has studied how communities such as Boulder, CO, Kansas City, MO, and Wilmington, NC, have attempted to build startup hubs. The key? Don’t try to be something you’re not. That means, for example, focusing on sectors that have … Continue reading “Packers, Microsoft Play to Green Bay’s Strengths With TitletownTech”
WI Watchlist: Foxconn Jobs, Marquette Esports, Rockwell Deal & More
[Updated 1/30/19, 7:39 am CT. See below.] It’s time to catch up on some recent headlines from Wisconsin’s innovation community, including the launch of a varsity esports program at Marquette University and American Family Insurance’s vague plans for a downtown Milwaukee office that will invest in technology initiatives. Read on for details. —Foxconn Technology Group, … Continue reading “WI Watchlist: Foxconn Jobs, Marquette Esports, Rockwell Deal & More”
EBSCO Health Buys HealthDecision to Push Joint Decision-Making Tools
[Updated 1/25/19, 10:39 am CT, with comments from CEO.] Cardiologist Jon Keevil’s decision three years ago to hang up his stethoscope and focus full time on his digital health startup, HealthDecision, seems to have paid off. His startup was just acquired by EBSCO Health, a business of Ipswich, MA-based EBSCO Information Services, which provides libraries with … Continue reading “EBSCO Health Buys HealthDecision to Push Joint Decision-Making Tools”
WI Watchlist: Fiserv, Promega, Arrowhead, Basic-code, EnSync & More
The biggest news of the week from Wisconsin’s high-tech sectors was by far Brookfield-based Fiserv’s (NASDAQ: [[ticker:FISV]]) massive $22 billion deal to acquire First Data (NYSE: [[ticker:FDC]]). Meanwhile, here are some headlines and happenings you might’ve missed: —Basic-code raised nearly $250,000 in equity funding, according to an SEC filing. The Brookfield, WI-based startup, which offers … Continue reading “WI Watchlist: Fiserv, Promega, Arrowhead, Basic-code, EnSync & More”
Fiserv to Buy First Data for $22B as Fintech Consolidation Continues
The mega-deals keep on coming. Today, it’s a massive acquisition in financial technology: Fiserv has struck an agreement to acquire First Data in an all-stock transaction valued at $22 billion. The deal has been approved by both companies’ boards but still needs to be accepted by shareholders and regulators. Assuming it closes as expected later … Continue reading “Fiserv to Buy First Data for $22B as Fintech Consolidation Continues”
After 33 Exits in 5 Years, WI Seeks “More and Bigger” Startup Deals
[Updated 1/22/19, 3:10 pm CT. See below.] When Propeller Health’s founders initially tried to raise funding for their new healthcare technology venture, many of the investors they spoke with were hesitant to take the risk. It was the early part of this decade, and Propeller was navigating the FDA’s regulatory process for medical devices. The … Continue reading “After 33 Exits in 5 Years, WI Seeks “More and Bigger” Startup Deals”
WI Watchlist: Northwestern Mutual, Epic, Exact Sciences, Propeller
It’s time to catch up on notable headlines from Wisconsin’s innovation community: —Northwestern Mutual, the Milwaukee-based insurance and wealth management services giant, has hired Souheil Badran as chief innovation officer. Badran was previously president of the Americas region for Alipay, the online payments platform operated by Ant Financial, the Alibaba-owned fintech firm. Badran’s new role … Continue reading “WI Watchlist: Northwestern Mutual, Epic, Exact Sciences, Propeller”
Catalent Investing $200M to Expand in Wisconsin, Indiana
[Updated 1/8/19, 12:49 pm, with spokesperson comments.] Life sciences companies are keeping construction crews busy in Wisconsin’s state capital. The latest project comes from Somerset, NJ-based contract research and manufacturing firm Catalent (NYSE: [[ticker:CTLT]]), which said Monday it plans to invest $200 million over three years to expand its biologics manufacturing sites in Madison, WI, … Continue reading “Catalent Investing $200M to Expand in Wisconsin, Indiana”
Wayfair’s Steve Conine on the Amazon Threat, Adopting A.I. & More
The prospect of Amazon putting your business in its crosshairs is enough to give any executive some sleepless nights. Wayfair co-founder Steve Conine seems undaunted. Over the past 17 years, Conine and Wayfair co-founder and CEO Niraj Shah have built the Boston-based company (NYSE: [[ticker:W]]) into one of the largest online sellers of home goods, … Continue reading “Wayfair’s Steve Conine on the Amazon Threat, Adopting A.I. & More”
WI Watchlist: Baird, Exact Sciences, Somna Therapeutics, & More
Happy New Year, readers. To kick off 2019, here are some recent headlines from Wisconsin’s innovation community: —The venture capital arm of Milwaukee-based Robert W. Baird & Co. is trying to raise $185 million for its fifth venture fund, according to a new SEC filing. The firm has yet to collect any of the money, … Continue reading “WI Watchlist: Baird, Exact Sciences, Somna Therapeutics, & More”
Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019
It was an eventful year for the artificial intelligence industry. The sector saw more big venture capital deals and acquisitions, while researchers kept plugging away on technology advances. Meanwhile, A.I. developers continued to grapple with issues around transparency, trust, and ethics. As part of Xconomy’s series of year-end posts, we asked a pair of CEOs … Continue reading “Boston A.I. Leaders Call for Focus on Diversity, Global Mindset in 2019”
WI Watchlist: Lame-Duck Bills, Johnson Controls, EmOpti & More
With the holidays approaching, it’s time to catch up on some recent headlines from Wisconsin’s innovation community: —Republican Gov. Scott Walker signed controversial lame-duck legislation that, among other things, limits the power of his Democratic successor, Tony Evers, who will take office in January. The legislation includes a measure that initially gives the state legislature … Continue reading “WI Watchlist: Lame-Duck Bills, Johnson Controls, EmOpti & More”
SoftBank Vision Fund Pours $500M Into Cambridge Mobile Telematics
Last month, Xconomy asked tech CEOs what $100 million in venture capital can buy. How about $500 million? Cambridge Mobile Telematics said Wednesday morning it has pulled in half a billion dollars in an investment from—you guessed it—the SoftBank Vision Fund. That’s Japan-based SoftBank Group’s reportedly $100 billion fund that has made waves in the … Continue reading “SoftBank Vision Fund Pours $500M Into Cambridge Mobile Telematics”
A.I. in 2019: IBM Exec on Advances in Training, Trust, Transparency
[Editor’s note: This is part of a series of posts sharing thoughts from technology leaders about 2018 trends and 2019 forecasts.] Today’s artificial intelligence technologies have demonstrated they’re capable of handling specific tasks, such as identifying pictures of cats or spotting cancer in CT scans. Researchers are hopeful the industry’s next breakthroughs will enable A.I. … Continue reading “A.I. in 2019: IBM Exec on Advances in Training, Trust, Transparency”
Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks
Machine learning startups are trying to establish a deeper presence on Wall Street. The latest move comes from Aiera (pronounced like “era”), a New York- and Boston-based company that announced today it took in $3.5 million in seed funding. Flybridge Capital Partners led the investment and was joined by Macquarie Group, Innovation Endeavors, Fin Venture … Continue reading “Aiera Bags $3.5M for A.I. to Help Wall Street Analysts Pick Stocks”
Pear Therapeutics App Gets FDA Nod for Treating Opioid Abuse
Doctors and other caregivers have a new weapon to combat the opioid epidemic. But it’s not a pharmaceutical drug—it’s a mobile app. This week, the FDA cleared “reSET-O,” an app developed by “digital therapeutics” startup Pear Therapeutics, for sale in the U.S. as a treatment for patients recovering from opioid abuse disorder. Doctors can now … Continue reading “Pear Therapeutics App Gets FDA Nod for Treating Opioid Abuse”
McAfee CTO On Election Hacking, Cryptojacking, Quantum Security
Election hacking. Information warfare. Adversarial artificial intelligence. All worrisome topics racing through Steve Grobman’s head these days. But the McAfee chief technology officer seems surprisingly upbeat about the prospects of meeting these cybersecurity challenges—or at least putting up a good fight. I met Grobman at a coffee shop in downtown Boston last week. He was … Continue reading “McAfee CTO On Election Hacking, Cryptojacking, Quantum Security”
Wisconsin Watchlist: Gravy, Semba, Steamchain, OnCourse, GenoPalate
[Updated 12/7/18, 3:42 pm. See below.] Time to catch up on recent headlines from Wisconsin’s innovation community: —Madison-based Gravy snagged the first investment from Rock River Capital Partners, which recently closed its debut fund. Rock River partner Andy Walker told Xconomy the venture funding round for Gravy totaled about $2 million. Other investors in the … Continue reading “Wisconsin Watchlist: Gravy, Semba, Steamchain, OnCourse, GenoPalate”
Alto Lands $50M as Pharmacy Sector Embraces E-Commerce Lessons
[Updated 12/5/18, 5:16 pm. See below.] The pharmacy industry’s transformation is accelerating, as traditional drug retailers strike deals to expand their businesses and fend off technology startups encroaching on their territory. The latest salvo in the increasingly competitive sector is a $50 million investment in Alto Pharmacy, a San Francisco-based “digital pharmacy” startup that has … Continue reading “Alto Lands $50M as Pharmacy Sector Embraces E-Commerce Lessons”
ResMed Boosts Connected Health Play With $225M Propeller Health Deal
[Updated 12/3/18, 3:30 pm, with CEO comments.] ResMed has inked a $225 million deal to acquire Propeller Health, in the latest endorsement of Internet-connected devices for healthcare. The acquisition, which is expected to close by the end of March 2019, continues San Diego-based ResMed’s (NYSE: [[ticker:RMD]]) “connected healthcare” push that began about five years ago, … Continue reading “ResMed Boosts Connected Health Play With $225M Propeller Health Deal”
WI Syndication Group Seeks More Investor Team-ups to Spur Big Exits
Many startup investments involve multiple investors these days, but it’s not always easy to assemble a group of backers necessary to close the deal. Wisconsin—which has a small local pool of venture capital and aspirations to churn out more high-growth startups—is one of the places experimenting with tactics to nurture relationships and collaboration between investors … Continue reading “WI Syndication Group Seeks More Investor Team-ups to Spur Big Exits”
Fetch Rewards Bags $8M After Shaking Up Its Grocery Rewards Model
Mobile app startup Fetch Rewards has scooped up $8 million in new venture funding to try and expand its grocery shopping rewards business. The Madison, WI-based company’s latest equity financing was disclosed in a document filed with the SEC this week. Fetch CEO and co-founder Wes Schroll couldn’t be immediately reached for comment Friday afternoon. … Continue reading “Fetch Rewards Bags $8M After Shaking Up Its Grocery Rewards Model”
WI Watchlist: Amazon, JCI, Understory, Titan Spine, Eurofins
[Updated 11/28/18, 10:08 am. See below.] Time to catch up on recent headlines from Wisconsin’s innovation community: —Understory, a Madison-based startup that tracks weather via networks of solar-powered sensors, said it reeled in a $7.5 million investment led by local venture firm 4490 Ventures. Other investors in the deal included the Rise of the Rest … Continue reading “WI Watchlist: Amazon, JCI, Understory, Titan Spine, Eurofins”
WI Watchlist: Gener8tor, FluGen, Sift Healthcare, Titan Spine
Before everyone tucks into turkey later this week, let’s catch up on some recent headlines from Wisconsin’s high-tech sectors: —Wisconsin-based Gener8tor, which runs a network of programs that train and invest in startups, continues to expand. Its latest offering is the OnRamp Insurance Accelerator, an insurance technology-focused program that will be located in the Minneapolis … Continue reading “WI Watchlist: Gener8tor, FluGen, Sift Healthcare, Titan Spine”
Nebula Genomics Touts Free DNA Sequencing to Coax Health Data Sharing
A growing number of startups are trying to encourage people to share genomic and other health data for research purposes by offering them some form of compensation. Now, as competition in this young sector ramps up, one of the big questions is what type of incentive will attract the most individuals. The latest experiment comes … Continue reading “Nebula Genomics Touts Free DNA Sequencing to Coax Health Data Sharing”
JCI Simplifies Focus with $13.2B Sale of Car Battery Business
The transformation of Johnson Controls International continues. On Tuesday, the company said it reached a deal to sell its power solutions business, which makes a variety of vehicle batteries, in a cash transaction valued at $13.2 billion. The buyers are investment firm Brookfield Business Partners (NYSE: [[ticker:BBU]]) and a group of partners, including Canadian investment … Continue reading “JCI Simplifies Focus with $13.2B Sale of Car Battery Business”
Universal Robots Hires Former Rethink Robotics Workers After Closure
A little more than a month after Rethink Robotics shut down, a competitor has hired more than 20 of the Boston-based firm’s former employees. Universal Robots, a Denmark-based maker of collaborative industrial robots, announced Tuesday it has brought on key Rethink personnel, primarily in engineering and product development. The hires include former Rethink chief operating … Continue reading “Universal Robots Hires Former Rethink Robotics Workers After Closure”
Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax
Nuance Communications is selling its document imaging division to Kofax for $400 million in cash, as Nuance’s new CEO narrows the company’s focus on its conversational artificial intelligence products and cloud-related technologies. Nuance’s (NASDAQ: [[ticker:NUAN]]) document imaging business provides enterprise software tools for securely capturing data from print or electronic documents, printing documents, and uploading … Continue reading “Nuance Goes All-in on Speech Tech, Sells Document Business to Kofax”
Qualtrics Skips IPO for $8B Sale to SAP
It’s hard to say no to $8 billion. Qualtrics, the enterprise software firm that was on the verge of going public, has pulled its IPO in favor of selling to German software giant SAP for $8 billion in cash. Qualtrics—which has dual headquarters in Provo, Utah (where it was founded in 2002), and Seattle—sells software … Continue reading “Qualtrics Skips IPO for $8B Sale to SAP”
WI Watchlist: Froedtert, Gener8tor, Fujifilm Cellular Dynamics, Exact
It’s been a busy week for Wisconsin’s innovation community, with entrepreneurship events taking place statewide for Startup Wisconsin Week (check out highlights on Twitter). Here are some of the other headlines from the past week: —Wauwatosa-based Froedtert Health, which runs a network of hospitals and clinics and is affiliated with the Medical College of Wisconsin, … Continue reading “WI Watchlist: Froedtert, Gener8tor, Fujifilm Cellular Dynamics, Exact”
WI Watchlist: EatStreet, Exact Sciences, Northwestern Mutual & More
Time to catch up on some recent headlines from Wisconsin’s innovation community: —EatStreet, the Madison-based online food ordering and delivery startup, plans to expand its service to several additional Wisconsin cities and hire around 300 people in the Badger State, mostly delivery drivers, according to reports by the Wisconsin State Journal and other media outlets. … Continue reading “WI Watchlist: EatStreet, Exact Sciences, Northwestern Mutual & More”
Cloud Leaders Shrug at IBM’s $34B Red Hat Deal
In some ways, the biggest software acquisition of all time could be a yawner. IBM’s planned $34 billion deal to acquire open-source software maker Red Hat is a hefty price to pay to give its cloud computing business a shot in the arm. But even if the purchase ultimately boosts IBM’s bottom line, some cloud … Continue reading “Cloud Leaders Shrug at IBM’s $34B Red Hat Deal”
IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud
[Updated 10/29/18, 12:53 pm, with executives’ comments.] IBM has agreed to buy open-source software maker Red Hat in a $34 billion bet aimed at helping it win the cloud computing war against Amazon, Microsoft, and Google. It’s one of the largest-ever U.S. tech acquisitions—the $67 billion Dell-EMC deal holds the top spot. Armonk, NY-based IBM … Continue reading “IBM Buying Red Hat in $34B Mega-Deal to Beat Amazon, Google in Cloud”
Medisafe to Get Paid For Health App’s Performance
More technology startups are embracing the healthcare industry’s increasing willingness to pay for products based on how much they improve health. One of the latest examples comes from Medisafe, a Boston company that has developed an app-based system intended to help patients manage their medications. The company offers both a free and a paid version … Continue reading “Medisafe to Get Paid For Health App’s Performance”
Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs
[Updated 2/22/19, 2:14 pm ET. See below.] The blockchain and cryptocurrency industry has produced a lot of hype, but it is still working to deliver practical applications that are widely used by businesses. One of the startups trying to change that, Boston-based Algorand, said today it has scooped up $62 million in venture funding from … Continue reading “Blockchain Startup Algorand Bags $62M, Hires Fuze & LogMeIn Execs”
All About Talent: Takeaways From MIT’s $1B Plan to Lead Way in A.I.
In 2011, Silicon Valley investor Marc Andreessen penned a widely read essay declaring that “software is eating the world.” If he were to write an updated version today, it might proclaim that machine learning is eating the world. Advances in data analytics and artificial intelligence technologies are starting to impact virtually every industry. In the … Continue reading “All About Talent: Takeaways From MIT’s $1B Plan to Lead Way in A.I.”
Andreessen Leads $300M Bet on Devoted Health’s Senior Care Approach
If you had more than $300 million to try and fix the healthcare industry, how would you do it? For a startup called Devoted Health, the answer involves a combination of providing more home healthcare and support to the seniors it serves, as well as incorporating telemedicine and other technologies as part of a business … Continue reading “Andreessen Leads $300M Bet on Devoted Health’s Senior Care Approach”
Fidelity’s New Crypto Startup Could Spark Wall Street Investment
Blockchain and cryptocurrency advocates have been waiting for large financial institutions to shed their wariness and begin investing meaningful amounts of money into the emerging technology. The sector may have gotten a significant catalyst on Monday, when Fidelity Investments announced it created a separate venture that will offer digital currency services to hedge funds, family … Continue reading “Fidelity’s New Crypto Startup Could Spark Wall Street Investment”
MIT Raises $650M for New College to Advance A.I. With Eye on Ethics
MIT is making another significant investment in artificial intelligence. The Institute announced Monday that it will establish a new college on its Cambridge, MA, campus—the MIT Stephen A. Schwarzman College of Computing—that will serve as an interdisciplinary hub for advancing ideas in computer science, artificial intelligence, data science, and related fields. The college is getting … Continue reading “MIT Raises $650M for New College to Advance A.I. With Eye on Ethics”
Zendesk Opens New Madison Office With Room for 400+ Employees
Zendesk is ramping up its investments in Madison, WI, which is home to the customer-service software company’s second-largest U.S. office. On Friday, San Francisco-based Zendesk (NYSE: [[ticker:ZEN]]) said it’s celebrating the opening of its new office on Madison’s Capitol Square, in the heart of the city’s downtown, with a tailgate-themed party. (Brats and beer, anyone?) … Continue reading “Zendesk Opens New Madison Office With Room for 400+ Employees”
Transatomic Power Leader Talks Startup’s Demise, Political Headwinds
It’s hard out there for nuclear energy startups. Not only do they face daunting challenges in trying to develop more efficient and safer methods of generating power from nuclear materials, but regulations and the current political climate can also pose roadblocks. At least, that’s board member Russ Wilcox’s take on the factors that contributed to … Continue reading “Transatomic Power Leader Talks Startup’s Demise, Political Headwinds”