[Updated 6/25/14, 2:26 pm. See below.] Thalchemy, a Madison, WI-based startup developing technology to facilitate continuous sensory processing in smartphones and other devices, has raised $650,000 from local and out-of-state investors, Xconomy has learned. The convertible debt round was led by Wingspan Ventures of Menlo Park, CA, with participation by Madison-based Venture Investors and three … Continue reading “Thalchemy Raises Seed Funds to Develop Always-on Sensor Technology”
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.
Hostad Wants to Raise MiKE Initiative’s Profile, Impact on Milwaukee
When the nonprofit Greater Milwaukee Committee formed its Innovation in Milwaukee initiative in 2011, the program was billed as a talent developer that would connect corporations and startups, and ultimately help the city transform into a hub for design and cutting-edge technology. The initiative, “MiKE” for short, came online during a time when a growing … Continue reading “Hostad Wants to Raise MiKE Initiative’s Profile, Impact on Milwaukee”
New Wisconsin Seed Fund to Help Commercialize Alzheimer’s Research
A new $1 million seed fund will help commercialize research at the University of Wisconsin School of Medicine and Public Health, with an initial focus on disease markers and treatments for Alzheimer’s. The fund is backed by the nonprofit Wisconsin Technology Innovation Initiative (Wi2) and the Wisconsin Economic Development Corp. (WEDC), which provided a matching … Continue reading “New Wisconsin Seed Fund to Help Commercialize Alzheimer’s Research”
Wisconsin Roundup: 100health, Harley Electric Motorcycles, & More
The past week’s Wisconsin innovation headlines featured a broad mix of companies in healthtech, mobile apps, life sciences, and traditional manufacturing. Read on for details. —Executives from five Madison startups are in Silicon Valley this week meeting with five venture capital firms, including Kleiner Perkins Caufield & Byers. Fishidy won a spot on the trip, … Continue reading “Wisconsin Roundup: 100health, Harley Electric Motorcycles, & More”
Spacecraft Maker Sierra Nevada Corp. Buys Wisconsin Supplier Orbitec
Sierra Nevada Corp., which is building the Dream Chaser spacecraft in Colorado, has acquired Madison, WI-based supplier Orbital Technologies Corp. for an undisclosed price. Orbital Technologies, commonly known as Orbitec, makes rocket engines that run on environmentally friendly fuel, as well as systems that moderate temperature and humidity in spacecraft, among other products. It has … Continue reading “Spacecraft Maker Sierra Nevada Corp. Buys Wisconsin Supplier Orbitec”
Lessons From Serial Entrepreneur Brian Wiegand, A WI Exit Master
A lot of entrepreneurs would kill to have Brian Wiegand’s startup success rate. Three of his tech companies—BizFilings, NameProtect, and Jellyfish—achieved exits totaling $87 million, and only one—Alice—bit the dust. (Let’s give another one of his potential ventures, Edine.com, a grade of “incomplete” because it never officially launched, as he quickly pivoted to work on … Continue reading “Lessons From Serial Entrepreneur Brian Wiegand, A WI Exit Master”
Wisconsin Accelerator Enrolls Second Class of Water Tech Startups
The Water Council today revealed the second group of startups that will participate in its accelerator, as the Milwaukee-based organization continues its quest to create a water tech hub built around large local companies, university researchers, and up-and-coming ventures. Gov. Scott Walker was on hand to congratulate the graduates of last year’s pilot water tech … Continue reading “Wisconsin Accelerator Enrolls Second Class of Water Tech Startups”
American Family Ventures Exits Stealth Mode, Builds National Portfolio
American Family Insurance has quietly become perhaps the most active Wisconsin corporation in the local startup scene, but this week it made a splash with two high-profile announcements. The Madison, WI-based insurer’s venture capital arm participated in Chicago-based Review Trackers’ $2 million Series A funding round announced yesterday. Also yesterday, Microsoft announced a new startup … Continue reading “American Family Ventures Exits Stealth Mode, Builds National Portfolio”
Microsoft, American Family Insurance Launch Startup Accelerator
Microsoft announced a new startup accelerator today that will be housed at its headquarters outside Seattle and focused on companies innovating in home automation. Microsoft has formed a partnership with Madison, WI-based American Family Insurance, the nation’s eighth-largest provider of homeowners’ insurance (among other insurance products). Through its venture capital arm, American Family Ventures, the … Continue reading “Microsoft, American Family Insurance Launch Startup Accelerator”
Gener8tor Grad Review Trackers Gets $2M From Wisconsin Investors
Fresh off its participation in Gener8tor’s startup accelerator program in Wisconsin, Chicago-based Review Trackers has raised $2 million in Series A funding, mostly from Badger State investors. Review Trackers, which built software to help businesses monitor and analyze what customers say about them online, previously raised $160,000 in seed money from angel investors, friends, and … Continue reading “Gener8tor Grad Review Trackers Gets $2M From Wisconsin Investors”
Wisconsin Roundup: Wellbe, Kiio, Cellectar, RideScout, & More
Two Madison startups are raising more capital. Madison-based biotech Cellectar Biosciences intends to trade on the Nasdaq stock exchange. RideScout has entered the Wisconsin market. And Milwaukee-area electric car drivers have new charging stations. Read on for a breakdown of last week’s Wisconsin innovation and tech news. —Madison-based Wellbe has raised $425,000 in a debt … Continue reading “Wisconsin Roundup: Wellbe, Kiio, Cellectar, RideScout, & More”
Madworks Seed Accelerator Aims to Polish Startups For Gener8tor
A new mini-accelerator has joined the growing list of resources for entrepreneurs in Madison, WI. Madworks Coworking at UW Campus, a pilot seed accelerator, launches next week with a $90,000 grant from the Wisconsin Economic Development Corp. Out of about 70 applicants, a group of 11 startups were accepted into the inaugural class, says Anne … Continue reading “Madworks Seed Accelerator Aims to Polish Startups For Gener8tor”
Madison’s Tech Future: 5 Ways It Could Succeed, 5 Ways It Could Fail
Silicon Valley wasn’t built overnight. Neither were smaller, newer tech startup hubs like Austin, TX, and Boulder, CO. In the Midwest, Madison, WI, hasn’t yet reached that level, but the city is gradually and quietly positioning itself to at least join the conversation. Xconomy has been closely following Madison’s aspirations to be a healthtech startup … Continue reading “Madison’s Tech Future: 5 Ways It Could Succeed, 5 Ways It Could Fail”
From Crowd to Factory, Inventalator Aims to Simplify Product Creation
The process of taking an idea from a scribble on a napkin to a product on store shelves can be protracted, grueling, and expensive. Milwaukee-based Inventalator aims to make product development quicker, simpler, and cheaper with a Web platform that will combine crowdsourcing, crowdfunding, and connections to all the resources necessary to get a business … Continue reading “From Crowd to Factory, Inventalator Aims to Simplify Product Creation”
3 Takeaways From Wisconsin’s Recent Burst of VC Deals
Wisconsin entrepreneurs often lament the state’s relative lack of venture capital, but lately they’ve had plenty to smile about. In the past two weeks, there have been five major funding announcements by Badger State startups: $8.5 million for Green Bay-based Aver Informatics, $6 million for Delafield-based Montage Talent, $3.4 million for Madison-based FluGen, $3 million … Continue reading “3 Takeaways From Wisconsin’s Recent Burst of VC Deals”
Wisconsin Roundup: Apple, Epic, Gener8tor, MobCraft, & More
Last week was an especially busy one for Wisconsin’s tech and innovation community, thanks to the Wisconsin Entrepreneurs’ Conference and a flurry of funding announcements. Here’s a few additional news items that might have flown under the radar: —Apple recently announced its iOS 8 software system, and a Wisconsin company will play a prominent role … Continue reading “Wisconsin Roundup: Apple, Epic, Gener8tor, MobCraft, & More”
Seeds, Bees, and Startups: Scenes From The WI Entrepreneurs’ Conference
Another Wisconsin Entrepreneurs’ Conference has come and gone. The 12th annual installment, held at the Alliant Energy Center in Madison, featured plenty of rock stars in the state’s innovation scene, from representatives of hot startups like Propeller Health and EatStreet, to investors like Wisconsin Investment Partners and the Golden Angels Network. Gov. Scott Walker and … Continue reading “Seeds, Bees, and Startups: Scenes From The WI Entrepreneurs’ Conference”
Montage Adds $6M to Help Clients Interview Job Seekers by Video
Montage Talent, a Delafield, WI-based provider of video interviewing technology for businesses, has raised $6 million in a Series C round that will boost product development and accelerate its growth internationally. The round was led by Beringea, a private equity firm based near Detroit, which invested $4 million. Participants included all the investors from Montage’s … Continue reading “Montage Adds $6M to Help Clients Interview Job Seekers by Video”
Madison’s Elucent Medical Wins WI Governor’s Business Plan Contest
Elucent Medical’s device for improving breast cancer treatment might not hit the market for two years, but the idea and the team behind it showed enough promise to capture the grand prize in this year’s Wisconsin Governor’s Business Plan Contest. Elucent beat out 12 other finalists in the annual competition run by the Wisconsin Technology … Continue reading “Madison’s Elucent Medical Wins WI Governor’s Business Plan Contest”
Madison Startup Fishidy To Reel In More Anglers With $1.5M Series A
Fishidy, a Madison, WI-based startup that built a mapping tool and social network for anglers, has raised $1.5 million in Series A funding from angel investors. The Milwaukee Journal Sentinel first reported the news. Chicago-based Hyde Park Angels led the round, marking its first lead investment in a Wisconsin company, said Fishidy co-founder and CEO … Continue reading “Madison Startup Fishidy To Reel In More Anglers With $1.5M Series A”
Wisconsin Startup Investments Shrink, But Deal Flow Up in 2013
Wisconsin startups collected $128.3 million from investors last year, down 21 percent from the previous year’s haul. But the number of deals rose 16 percent, as 86 companies received funding. That’s according to this year’s Wisconsin Portfolio, a newly released report from the Wisconsin Technology Council and its Wisconsin Angel Network. The annual publication gathers … Continue reading “Wisconsin Startup Investments Shrink, But Deal Flow Up in 2013”
WI-based FluGen Raises $3.4M For Universal Flu Vaccine Phase I Trial
FluGen has raised $3.4 million in convertible debt financing to help the Madison, WI-based biotech startup push its universal flu vaccine into human trials next year, Xconomy has learned. The $3.4 million is a bridge financing round, and the company is now seeking an additional $3 million or more in a Series B venture capital … Continue reading “WI-based FluGen Raises $3.4M For Universal Flu Vaccine Phase I Trial”
Wisconsin Roundup: Epic, Crowdfunding, Milwaukee Water Biz Park
Here’s a smattering of recent news from Wisconsin’s innovation and tech community: —Plans are starting to solidify for the first building in a planned Milwaukee business park for water tech companies. Construction could begin this fall on a four-story, 80,000-square-foot office and research complex in the Reed Street Yards, which is adjacent to the Global … Continue reading “Wisconsin Roundup: Epic, Crowdfunding, Milwaukee Water Biz Park”
Madison, WI-based Mobile Gaming Startup PerBlue Raises $3M
[Updated 5/30/14, 11:02 am. See below.] PerBlue, a Madison, WI-based mobile game developer, has raised $3 million in venture capital from investors, including Chicago-based Lightbank. There are eight investors in the equity raise that totals just shy of $3 million, a new SEC filing shows. Lightbank is leading the funding round, which marks the VC … Continue reading “Madison, WI-based Mobile Gaming Startup PerBlue Raises $3M”
WI-based Aver Informatics Gets $8.5M From GE Ventures, Drive Capital
It’s easy to leave out Green Bay in conversations about Wisconsin’s tech startup scene, but Packer country grabbed the spotlight today with healthtech startup Aver Informatics announcing an $8.5 million Series A investment from some prominent national names. It’s possibly the largest capital raise by a Green Bay-based startup, Aver CEO Kurt Brenkus said, and … Continue reading “WI-based Aver Informatics Gets $8.5M From GE Ventures, Drive Capital”
Wisconsin Roundup: Ideadvance, MiKE, Fontarome Chemical, & More
It’s coming down to the wire for the Wisconsin startups competing in the Governor’s Business Plan Contest. A group of 12 early-stage companies born at Wisconsin public universities received seed investments. Innovation in Milwaukee (MiKE) has a new leader. And Milwaukee-based Fontarome Chemical, which flirted with a shutdown a few months ago, has come back … Continue reading “Wisconsin Roundup: Ideadvance, MiKE, Fontarome Chemical, & More”
Flying Car 2014
Flying Car, the annual innovation and technology conference hosted by the Greater Milwaukee Committee’s Innovation in Milwaukee (MiKE) initiative, will feature speakers, hands-on labs, and networking opportunities. The keynote address will be given by Apple co-founder Steve Wozniak. Other speakers include MLB commissioner Bud Selig, former Google brand strategist Heidi Hackemer, The Ability Center founder … Continue reading “Flying Car 2014”
Gener8tor Grad OpenHomes Raises Seed Funds to Grow Staff, Launch App
Madison, WI-based OpenHomes, a startup that helps people buy and sell homes online, has raised $180,000 in seed funds that will help it expand staff and develop a mobile app, the company said today. Investors include Milwaukee-based CSA Partners, Oshkosh, WI-based Angels on the Water, Wisconsin startup accelerator Gener8tor, and individuals including Mark Bakken, CEO … Continue reading “Gener8tor Grad OpenHomes Raises Seed Funds to Grow Staff, Launch App”
Milwaukee-based SpotHopper Wants to Be Pandora For Watering Holes
[Corrected 5/21/14, 8:53 am. See below.] Movie and TV series addicts have Netflix. Adventurous music aficionados have Pandora. But there’s arguably no equivalent go-to mobile app or software program for people who are planning a fun night on the town and want help scouting bars that match their tastes and mood. That’s what the makers … Continue reading “Milwaukee-based SpotHopper Wants to Be Pandora For Watering Holes”
Wisconsin Roundup: Cloud, Solar, Speed Dating, & More
Here are a few recent notable news items in Wisconsin’s tech and innovation community: —Helios Solar Works, a Milwaukee solar panel startup that filed for receivership and shut down last year, will reopen under its new Chinese parent company, Chinaland Solar Energy—but not in Wisconsin. Instead, the company will relocate to North Carolina, according to … Continue reading “Wisconsin Roundup: Cloud, Solar, Speed Dating, & More”
Geppetto Avatars Melds Emotion of Disney, Smarts of KITT
[Corrected 5/15/14, 3:41 pm. See below.] The fact that Norrie Daroga considers Walt Disney the forefather of his company’s interactive virtual characters is telling, and not just because Geppetto Avatars was partly named after the woodcarver who created Pinocchio, the puppet who dreamed of being a real boy, in Disney’s classic 1940 animated film, “Pinocchio.” … Continue reading “Geppetto Avatars Melds Emotion of Disney, Smarts of KITT”
Nonprofit Aims to Boost Early-Stage Healthcare Startups in Milwaukee
The spotlight for healthcare innovation in Wisconsin often falls on the state capital of Madison, and for good reason. The city’s biotech scene has produced a number of successful startups that got acquired or went public, and researchers at its flagship university have for decades made impactful—and at times, incredibly lucrative—discoveries that have fueled a … Continue reading “Nonprofit Aims to Boost Early-Stage Healthcare Startups in Milwaukee”
Boston’s Moontoast Buys Spendship, a Nashville Startup With WI Roots
Spendship, a mobile marketing startup with Wisconsin roots, has been acquired for an undisclosed sum by Boston-based adtech company Moontoast, the companies announced Thursday. Jason Weaver, founder and former CEO of Madison, WI-based Shoutlet, created the Spendship platform as a way for businesses to simultaneously boost sales and relationships with consumers by “turning fans into … Continue reading “Boston’s Moontoast Buys Spendship, a Nashville Startup With WI Roots”
Wisconsin Roundup: BrightStar, Propeller Health, JCI R&D lab, & More
Here’s a few news items from Wisconsin’s innovation and tech community that you might have missed this week: —BrightStar Wisconsin Foundation announced its next round of investments in local startups, with $285,000 total put into Milwaukee-based The Good Jobs, Fishidy of Madison, WI, and WholeTrees, a Madison-based company that plans to build a production facility … Continue reading “Wisconsin Roundup: BrightStar, Propeller Health, JCI R&D lab, & More”
Outside San Diego, Illumina Looks to Wisconsin for Key R&D
When an acquisition occurs, the worst-case scenario for the community of the purchased company usually occurs when the buyer gobbles up the pieces it wants and shutters the local operations. But this situation doesn’t always play out, and Nick Caruccio is glad that’s not what happened to his company, Madison, WI-based Epicentre, after San Diego-based … Continue reading “Outside San Diego, Illumina Looks to Wisconsin for Key R&D”
MCW’s Clarke Wants to Build Critical Mass of Medical Entrepreneurs
For academic researchers trying to turn an idea into a business, it’s easy to get caught up in the discovery’s “cool” factor and overlook the fact that it needs to be something people will pay money for. As the Medical College of Wisconsin’s newly named director of research commercialization, Bill Clarke knows this dynamic well. … Continue reading “MCW’s Clarke Wants to Build Critical Mass of Medical Entrepreneurs”
Wisconsin Roundup: Wozniak, Bridge to Cures, Isomark
Here are a few recent notable announcements from Wisconsin’s tech and innovation community: —Madison, WI-based Isomark said it received a $150,000 investment from the Wisconsin Alumni Research Foundation (WARF) that will help fund a 110-patient study of the company’s non-invasive “Canary” breath analyzer at the UW Hospital and Clinics. The device is meant to provide early indication of potentially … Continue reading “Wisconsin Roundup: Wozniak, Bridge to Cures, Isomark”
Speed Dating: Wisconsin’s Experiment to Connect Startups, Big Boys
Entrepreneurs can raise all the venture capital they want, but they know that in the long run, they don’t have a business without dollars flowing in from customers. For startups aiming to crack the big company market with B2B products and services, it can be challenging just to score a meeting with potential corporate customers, … Continue reading “Speed Dating: Wisconsin’s Experiment to Connect Startups, Big Boys”
WI-Bred Weather Startup Understory Raises $1.9M, Moves HQ to Boston
Understory, a weather data and analytics startup that moved from Madison, WI, to Boston, has raised $1.9 million in a seed funding round, the company announced today. Palo Alto, CA-based True Ventures led the round, with participation from RRE Ventures, Vegas Tech Fund, SK Ventures, and Boston entrepreneur and angel investor Andrew Payne. Understory previously … Continue reading “WI-Bred Weather Startup Understory Raises $1.9M, Moves HQ to Boston”
Wisconsin Roundup: BuySeasons, Uber, 96square, Nuclear Energy
Here’s a rundown of notable news items in Wisconsin’s tech and innovation community this past week: —On Monday, I featured Milwaukee serial entrepreneur Jalem Getz’s latest startup, Wantable. Meanwhile, his former company, BuySeasons, continues the CEO carousel that began when Getz left in 2010. On Tuesday, BuySeasons announced that Dev Mukherjee had stepped down and … Continue reading “Wisconsin Roundup: BuySeasons, Uber, 96square, Nuclear Energy”
Madison Healthtech Firm Vonlay Sold to Huron Consulting Group
Vonlay, one of the largest healthcare IT consulting firms in Madison, WI, will be acquired by Chicago-based Huron Consulting Group, according to an announcement today. The purchase price wasn’t disclosed. The deal is expected to close in May. Vonlay, founded in 2009 by Aaron Carlock, has 130 employees at its headquarters in Middleton, WI, near … Continue reading “Madison Healthtech Firm Vonlay Sold to Huron Consulting Group”
CorvisaCloud Gets $30M Investment From Parent Novation
Milwaukee-based cloud communications provider CorvisaCloud has received a $30 million capital infusion from parent company Novation Companies that it says will boost sales, marketing, and product development, as well as spur potential acquisitions. CorvisaCloud, founded in 2011, develops cloud-based software for customers’ contact centers. The funding announcement follows CorvisaCloud’s April 15 release of its new … Continue reading “CorvisaCloud Gets $30M Investment From Parent Novation”
The Good Jobs Snags $350K To Help Companies Promote Culture
[Updated 4/22/14, 1:13 p.m., to include executives’ full titles.] Milwaukee startup The Good Jobs has secured $350,000 in funding that will allow it to expand staff and step up marketing for its Web tools that help companies showcase their office culture to jobseekers. The funding includes $180,000 from investors, led by Oshkosh, WI-based Angels on … Continue reading “The Good Jobs Snags $350K To Help Companies Promote Culture”
Jalem Getz’s Latest Retail Startup Wantable Targets Women, Fast Growth
Milwaukee serial entrepreneur Jalem Getz swore he was done with companies that sell widgets back in 2010, after he left BuySeasons, the online retailer and distributor of costumes and party supplies that he co-founded in 1999 and helped grow to $170 million in annual revenue. But he has returned to the ecommerce startup world with … Continue reading “Jalem Getz’s Latest Retail Startup Wantable Targets Women, Fast Growth”
From Pirates to Basketball, Aulet’s Entrepreneurship Lessons for WI
[Updated 4/18/14, 12:01 p.m., to include a link to Aulet’s PowerPoint presentation.] What do pirates, Navy SEALs, rabbits, and street basketball have in common? Entrepreneurship, it turns out. Those were some of the analogies made by Boston-area entrepreneur Bill Aulet in speeches Thursday to groups of more than 50 people in Madison and Milwaukee. Aulet … Continue reading “From Pirates to Basketball, Aulet’s Entrepreneurship Lessons for WI”
Wearing Two Hats, Resnick Pushes Tech Issues on Madison Council
Scott Resnick’s appearance doesn’t exactly scream “politician.” On this particular afternoon, the 27-year-old is seated comfortably in the conference room of his software company’s office overlooking Lake Mendota in Madison, WI. He is wearing a collared shirt with blue, grey, and magenta stripes, along with tan pants. No suit, no tie, no problem. Anything above … Continue reading “Wearing Two Hats, Resnick Pushes Tech Issues on Madison Council”
D2P’s Biondi On Getting UW-Madison More for its ($1.2B) R&D Money
[Corrected 12/17/15, 11:34 a.m. See below.] University of Wisconsin-Madison is one of the top-spending schools when it comes to research, but university administrators think its faculty and students could use a boost to turn their ideas into thriving companies. That’s the mandate for Discovery to Product (D2P), a new campus initiative that aims to hike … Continue reading “D2P’s Biondi On Getting UW-Madison More for its ($1.2B) R&D Money”
MIT’s Bill Aulet: Wisconsin Can Benefit From Being Off ‘Beaten Track’
Innovation can come from anywhere, and there might be some advantages for Wisconsin being located in what is sometimes derisively called flyover country. Those are two thoughts shared with me recently by Boston-area entrepreneur Bill Aulet, managing director of the Martin Trust Center for MIT Entrepreneurship and author of a top-selling book published last year … Continue reading “MIT’s Bill Aulet: Wisconsin Can Benefit From Being Off ‘Beaten Track’”
Wisconsin Startup Fishidy Wins Chance to Pitch Silicon Valley VCs
Fishidy, a Madison, WI-based startup that built a mapping tool and social network for fishing enthusiasts, will get a face-to-face meeting with Silicon Valley venture capitalists this summer, thanks to its winning pitch Tuesday at a Madison business conference. Fishidy was one of six Madison-area startups that presented to a crowd of about 250 people … Continue reading “Wisconsin Startup Fishidy Wins Chance to Pitch Silicon Valley VCs”
Kauffman Study: Weaker Entrepreneurship Spells Stronger Job Market
The U.S. saw slightly fewer businesses created last year, but there’s a silver lining: the poorer numbers nationwide likely indicate that a stronger job market relieved some of the pressure on people to start companies out of necessity. That’s among the takeaways from the latest Kauffman Index of Entrepreneurial Activity, an annual study from the … Continue reading “Kauffman Study: Weaker Entrepreneurship Spells Stronger Job Market”