EatStreet has closed a $6 million Series B funding round that it says will help the Madison, WI-based online restaurant ordering platform double its staff and expand to more than 15,000 restaurants in 150 cities by the end of the year. TechCrunch first reported the Series B raise. Xconomy reported in February that EatStreet had … Continue reading “Wisconsin Restaurant Ordering Platform EatStreet Closes $6M Series B”
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.
Wisconsin Roundup: Startup Weekend, Exact Sciences, 3D Printing
Last week was a busy one for Wisconsin’s tech and innovation community. Here are a few notable items you might have missed: —Madison, WI, held its third annual Startup Weekend, in which participants form teams and embark on a “54-hour frenzy of business model creation, coding, designing, and market validation.” Startup Weekend Madison judge Troy … Continue reading “Wisconsin Roundup: Startup Weekend, Exact Sciences, 3D Printing”
Gener8tor Demos Latest Startups, Growth of Local Scene
Thursday night’s closing event for gener8tor’s winter startup accelerator program in Madison, WI, was an indication of the progress made since January by its five new graduates. It was also a microcosm of how Wisconsin’s overall startup community has grown in the past two years. More than 400 people packed Madison’s Barrymore Theatre to listen … Continue reading “Gener8tor Demos Latest Startups, Growth of Local Scene”
Startup Accelerator Gener8tor Gets $110K From Angel Group WIP
The graduates of gener8tor’s winter startup accelerator program will receive a funding boost thanks to a $110,000 investment in the program by Wisconsin Investment Partners. Wisconsin Investment Partners (WIP), a Madison, WI-based angel investment group, is committing $11,000 toward each startup coming out of gener8tor’s three-month business boot camps this year. That includes five startups … Continue reading “Startup Accelerator Gener8tor Gets $110K From Angel Group WIP”
Ebullient Nears Boiling Point in Path to Computer Cooling Market
[Updated 4/3/14, 7:57 am, to include a photo of Ebullient’s process.] For decades, air-based cooling has been the go-to method for avoiding computer chip meltdowns. Now a group of liquid cooling technologies are vying to become the industry standard for data center operators, despite what at first sounds like a potentially disastrous combination of fluid … Continue reading “Ebullient Nears Boiling Point in Path to Computer Cooling Market”
BomBoard to Millennials: Get Your (Jet Ski) Motor Running
On the surface, John West doesn’t seem like a man who’d design a small, cheap jet ski for urban millennials. The 68-year-old has no formal engineering education, lives in rural Wisconsin, and comes from a generation known to hanker for “big” everything—from cars to motorcycles, houses to boats. But West has, in fact, developed a … Continue reading “BomBoard to Millennials: Get Your (Jet Ski) Motor Running”
Dairyland Innovation: Xconomy Wisconsin’s Top Stories Since December Launch
It’s hard to believe, but it’s been just over three months since Xconomy launched in Wisconsin. Although it still doesn’t quite feel like spring in the Midwest, in the spirit of the (technically) new season, I thought it would be a good time to take a look back at the important stories Xconomy Wisconsin has … Continue reading “Dairyland Innovation: Xconomy Wisconsin’s Top Stories Since December Launch”
FDA Panel Gives Exact’s Colon Cancer Test Ringing Endorsement
It was all smiles and congratulatory handshakes for Exact Sciences president and CEO Kevin Conroy this afternoon after a panel of physicians and medical experts unanimously endorsed the Madison, WI-based company’s colon cancer screening test for FDA approval. The FDA advisory committee voted 10-0 on all three questions, indicating panelists’ belief that Cologuard—Exact’s non-invasive, stool … Continue reading “FDA Panel Gives Exact’s Colon Cancer Test Ringing Endorsement”
Wisconsin Startups Join War of Apartment-Hunting Websites
When CoStar Group acquired Apartments.com for $585 million in early March, it was quite the endorsement for the 17-year-old website. But the company hardly has the field to itself. In addition to the listings on venerable Craigslist, a dizzying array of apartment-hunting websites already exists, from HotPads and StreetEasy (both acquired by Zillow, for $16 … Continue reading “Wisconsin Startups Join War of Apartment-Hunting Websites”
Bill Aulet To Talk Entrepreneurship in Madison and Milwaukee
Can entrepreneurship really be taught? This is just one of the questions that we’ll be exploring in Wisconsin on April 17 in two separate roundtable discussions featuring Boston-area entrepreneurship guru Bill Aulet. Xconomy is hosting the events in Madison and Milwaukee in partnership with gener8tor and Startup Milwaukee. The roundtables will be our first events … Continue reading “Bill Aulet To Talk Entrepreneurship in Madison and Milwaukee”
AMRI to Acquire API Manufacturer Cedarburg Pharmaceuticals for $41M
Cedarburg Hauser Pharmaceuticals, the Grafton, WI-based contract developer and manufacturer of active pharmaceutical ingredients (API) for the drug industry, will be acquired for $41 million by Albany Molecular Research Inc. (AMRI), the two companies announced today. Albany, NY-based AMRI (NASDAQ:[[ticker:AMRI]]), a global contract drug discovery, development, and manufacturing firm, said it is paying $38.2 million … Continue reading “AMRI to Acquire API Manufacturer Cedarburg Pharmaceuticals for $41M”
Branch2 Raising Seed Funding to Grow Staff, Build Health IT Apps
Branch2, a Madison, WI-based startup that intends to build healthcare software applications in collaboration with hospital systems, is looking to raise $500,000 in seed funding, according to a filing with the U.S. Securities & Exchange Commission. Branch2 has raised $40,000 from two investors so far in the offering of debt and options or warrants to … Continue reading “Branch2 Raising Seed Funding to Grow Staff, Build Health IT Apps”
Exact Sciences’ Colon Cancer Test Clears Key Hurdle, FDA Next
Wall Street was pleased today with the newly published results of a pivotal study of Exact Sciences’ non-invasive screening test for colorectal cancer. Next step for the Madison, WI, company: FDA approval. Exact (NASDAQ: [[ticker:EXAS]]) announced top-line data of its 10,000-patient study in April 2013, but the full results were officially published Wednesday in a … Continue reading “Exact Sciences’ Colon Cancer Test Clears Key Hurdle, FDA Next”
UW-Milwaukee Students to Design Healthcare Apps for MCW
A searchable database of open clinical trials, a mobile calculator and calendar for helping patients on steroids decrease their dosage over time, and a mobile tracker for blood donors were among the winning ideas for apps pitched on Tuesday at the Medical College of Wisconsin (MCW). Twenty-two teams of mostly physicians and medical researchers from … Continue reading “UW-Milwaukee Students to Design Healthcare Apps for MCW”
Boston VCs See Madison Healthtech Play Following Nashville’s Path
There’s been plenty of rosy talk lately from entrepreneurs and stakeholders in Madison, WI, about the area’s potential for becoming a national hub for healthtech startups. On Tuesday, Madison got an endorsement from Boston venture capitalists who are starting to take notice of the entrepreneurial activity happening here, including in health information technology. Local optimists … Continue reading “Boston VCs See Madison Healthtech Play Following Nashville’s Path”
ITS Compliance Gets $5.75M From Chicago, NY Private Equity Firms
ITS Compliance, a Wisconsin tech-enabled services provider for truck fleets, has received a $5.75 million investment that it says will help improve its software platform and expand its services. The funding deal announced Monday was co-led by First Analysis and Argentum, private equity firms based in Chicago and New York, respectively. ITS Compliance was founded … Continue reading “ITS Compliance Gets $5.75M From Chicago, NY Private Equity Firms”
BrightStar Wisconsin Foundation Makes First Investments
BrightStar Wisconsin Foundation, a new philanthropic organization that puts money into startups, has made its first round of investments. BrightStar, which was granted nonprofit status by the Internal Revenue Service in November, says today it’s putting more than $250,000 into three early-stage Wisconsin companies: Engineered Propulsion Systems, New Richmond; Stemina Biomarker Discovery, Madison; and 425 … Continue reading “BrightStar Wisconsin Foundation Makes First Investments”
Wisconsin Roundup: Tech Transfer, Supercomputers, Stem Cells
Here are a few notable news items from Wisconsin’s tech and innovation community over the past week: —Discovery to Product (D2P), the new University of Wisconsin-Madison initiative for accelerating commercialization of campus innovations, named Wisconsin entrepreneur John Biondi as its first director. In his career, Biondi has raised nearly $60 million for nine early-stage ventures … Continue reading “Wisconsin Roundup: Tech Transfer, Supercomputers, Stem Cells”
4490 Ventures Head Brings Silicon Valley Experience, Midwest Mindset
Greg Robinson spent 12 years in the Silicon Valley venture capital world, where the amount of money constantly being pumped into startups can at times seem almost unreal to Wisconsin observers. But Robinson says he brings a Midwest-like mindset of prudence to his role as general partner of the new 4490 Ventures fund based in … Continue reading “4490 Ventures Head Brings Silicon Valley Experience, Midwest Mindset”
Renaissance Learning Being Sold for $1.1B to Hellman & Friedman
[Updated 3/14/14, 8:50 am. See below.] Renaissance Learning is being sold for $1.1 billion to private equity firm Hellman & Friedman in what it says is one of the largest education technology acquisitions ever. Hellman & Friedman, with offices in San Francisco, New York, and London, will acquire Renaissance Learning from U.K.-based private equity firm … Continue reading “Renaissance Learning Being Sold for $1.1B to Hellman & Friedman”
GE Healthcare Study Quantifies Economic Impact of Madison Operation
GE Healthcare has had a significant presence in Madison, WI, since 2003, when it bought Datex-Ohmeda, a company that traced its local roots to the opening of an Ohio Medical Products manufacturing facility in 1946. Today there are 630 people working at GE Healthcare’s 200,000-square-foot facility on the outskirts of Madison, the U.S. hub for … Continue reading “GE Healthcare Study Quantifies Economic Impact of Madison Operation”
Scale Up Milwaukee, Aided by $350K From WEDC, Aims to Prove Itself
State officials are pouring a lot more cash into Scale Up Milwaukee, the entrepreneurship program that tests a college professor’s theories by helping existing businesses push for more rapid growth. For its second year, Scale Up is getting $350,000 from the Wisconsin Economic Development Corp., officials told Xconomy. That represents a big increase in support … Continue reading “Scale Up Milwaukee, Aided by $350K From WEDC, Aims to Prove Itself”
Madison Software Startup Drifty Raises $1M
[Updated 3/10/14, 12:48 pm, after speaking with Drifty officials.] Drifty, the Madison, WI-based startup that builds online platforms for people to create websites and mobile applications, has raised $1 million in a private securities offering, according to a document filed with the U.S. Securities and Exchange Commission. Arthur Ventures, a venture capital firm with offices … Continue reading “Madison Software Startup Drifty Raises $1M”
Carroll Raising Milwaukee Profile with Grad Entrepreneurship Program
Carroll University, Wisconsin’s oldest four-year higher education institution, is attempting to raise its profile in the Milwaukee startup community with a new graduate program in entrepreneurship taught by successful local entrepreneurs. The $13,500 intensive, 15-credit, four-month “boot camp” will accept 24 students for its inaugural program in the fall. The 168-year-old Carroll is located west … Continue reading “Carroll Raising Milwaukee Profile with Grad Entrepreneurship Program”
OnCourse Learning Sold to NY Private Equity Firm
OnCourse Learning, the Waukesha, WI-based provider of online professional training programs, has changed hands. New York private equity firm CIP Capital has acquired OnCourse Learning from Cleveland-based private equity firm The Riverside Company. Terms weren’t disclosed, but Dow Jones reported that Riverside earned a return that was 5.4 times greater than its investment made in … Continue reading “OnCourse Learning Sold to NY Private Equity Firm”
California VC Greg Robinson to Lead Wisconsin’s 4490 Ventures
4490 Ventures, Wisconsin’s new $30 million venture capital fund focused on information technology startups, has recruited a San Francisco Bay Area VC investor to lead the fund. Greg Robinson has been named 4490 Ventures’ general partner, the firm said today in a press release. Robinson was previously one of two partners at Peninsula Ventures, an … Continue reading “California VC Greg Robinson to Lead Wisconsin’s 4490 Ventures”
Building a Tech Hub in Land of Green Bay Packers, Paper Mills
Northeastern Wisconsin is best known for the Green Bay Packers and paper mills. Not exactly the building blocks for a booming tech startup hub, but a small group of techies and investors is trying to grow one there. It’s still a raw effort with a long way to go before the scene in Green Bay … Continue reading “Building a Tech Hub in Land of Green Bay Packers, Paper Mills”
Making Pabst Proud: Wisconsin Startups Mix Beer With New Tech
The Wisconsin beer barons of the 1800s probably didn’t imagine brewers soliciting recipes from their customers. But that’s what Madison, WI-based MobCraft Beer is doing. The young company—which crowdsources craft beer recipes, lets people vote online for their favorite, and brews the most popular one each month—is one of several Wisconsin startups that are marrying … Continue reading “Making Pabst Proud: Wisconsin Startups Mix Beer With New Tech”
Wisconsin Startup’s Neutron Generator Generates Big U.K. Customer
Phoenix Nuclear Labs has closed on a $1.15 million private funding round and inked its first major commercial contract, the Monona, WI, startup said this week. Phoenix has developed a particle accelerator-based neutron generator that has applications in medical isotope production and neutron radiography imaging, among other uses. The company was founded in 2005 by … Continue reading “Wisconsin Startup’s Neutron Generator Generates Big U.K. Customer”
100health Aims to Incubate Health IT Startups, Put Madison on Map
The ambitious talk of turning Madison, WI, into the nation’s premier hub for healthcare and healthtech startups has grown louder in recent weeks. Now add 100health to the conversation. The new company, housed in downtown Madison co-working space 100state, is part think tank and part startup incubator. 100health will work with healthcare providers, insurers, and … Continue reading “100health Aims to Incubate Health IT Startups, Put Madison on Map”
Wisconsin Roundup: Startup Weekend, Epic Systems, Johnson Controls
A few notable news items from Wisconsin’s tech and innovation community over the last week: —The first Startup Weekend was held in the Green Bay area. About 45 people participated, forming nine startup teams in the span of 54 hours on St. Norbert College’s campus, said Chris Campbell, one of the volunteers who helped run … Continue reading “Wisconsin Roundup: Startup Weekend, Epic Systems, Johnson Controls”
BlueTree Network Co-founder Launches Healthcare App Venture
[Updated 2/25/14, 3:16 pm. See below.] Epic Systems veteran Reggie Luedtke is launching his second healthcare information technology startup, a venture that he hopes will coax healthcare providers to share more data and break down bureaucratic divisions across the industry. The new company, called Branch2, wants to build software that can connect the various parts … Continue reading “BlueTree Network Co-founder Launches Healthcare App Venture”
Google Capital Takes Minority Stake in Renaissance Learning
Renaissance Learning, the education software firm based in central Wisconsin, has received a $40 million investment from Google Capital that makes the fund a minority stakeholder, the companies announced today. The deal values Renaissance at $1 billion. The New York Times first reported the $40 million figure. The deal marks Google Capital’s first investment in … Continue reading “Google Capital Takes Minority Stake in Renaissance Learning”
Madison Biotech Supplier Goes Lean to Stave Off Foreign Competitors
When you say the words “lean” or “Six Sigma” on the shop floors of industrial plants across the globe, people immediately know what you’re talking about. Pioneered decades ago by automakers determined to cut waste out of their manufacturing processes, those same ideas are now starting to permeate the chemical vats and microscopes of biological … Continue reading “Madison Biotech Supplier Goes Lean to Stave Off Foreign Competitors”
Six Wisconsin Firms Gain Access to Milwaukee Institute Supercomputer
The R&D efforts within six Wisconsin startups and more established companies will get a boost from a supercomputer, thanks to a new grant program. The recipients of the one-year grant program were announced today. They will each receive between $10,000 and $50,000, as well as access to the nonprofit Milwaukee Institute’s high-performance computing and data … Continue reading “Six Wisconsin Firms Gain Access to Milwaukee Institute Supercomputer”
Wisconsin Roundup: Uber, New Seed Fund, ‘Aladdin’ Closing
Last week was a busy one for Wisconsin’s tech and innovation community. Here are some notable news items, in case you missed them: —Uber, the popular and (in some circles) notorious ride-sharing app, launched in Milwaukee. It’s the first Badger State location in which Uber has planted itself. It attempted to make a splash with … Continue reading “Wisconsin Roundup: Uber, New Seed Fund, ‘Aladdin’ Closing”
Wisconsin Restaurant Ordering Platform EatStreet Raises $3.7M
EatStreet, the online restaurant ordering platform based in Madison, WI, has raised $3.7 million in a financing round, according to a document filed this month with the U.S. Securities and Exchange Commission. Seventeen investors have taken part so far in the equity offering that could reach $5 million at close, according to the SEC filing. … Continue reading “Wisconsin Restaurant Ordering Platform EatStreet Raises $3.7M”
Former Wisconsin Gov. Thompson Wants to Form Angel Fund
Former Wisconsin governor Tommy Thompson has aspirations for starting an early-stage investment fund—that’s if he can achieve a few exits this year with his current personal investments. Thompson made the comments Thursday afternoon at a luncheon in Wauwatosa, WI, hosted by the Wisconsin Innovation Network, an arm of the Madison-based Wisconsin Technology Council. Thompson held … Continue reading “Former Wisconsin Gov. Thompson Wants to Form Angel Fund”
Techstars’ Troy Henikoff: Wisconsin Startups’ Problems No Different
When I talked with Techstars Chicago’s managing director Troy Henikoff in January about his upcoming visit to Milwaukee, he readily admitted that he didn’t know as much about Wisconsin’s tech startup scene as he would like. I caught up with Henikoff again Wednesday night at the event hosted by Startup Milwaukee to ask him what … Continue reading “Techstars’ Troy Henikoff: Wisconsin Startups’ Problems No Different”
With New App, H2Oscore Brings Smart Meter Reading to the People
Milwaukee technology startup H2Oscore is launching a beta version of a new app this week that will allow homeowners and businesses to take monitoring their water and electricity use into their own hands. The software performs data analytics similar to H2Oscore’s current Web dashboard for tracking water use, but the new “MeterHero” app cuts municipal … Continue reading “With New App, H2Oscore Brings Smart Meter Reading to the People”
Baird Venture Capital Group Raising $150M For Fourth Fund
The venture capital arm of Milwaukee-based Robert W. Baird & Co. intends to raise $150 million for a fourth fund, according to a filing with the U.S. Securities & Exchange Commission. The Milwaukee Journal Sentinel first reported the news. Baird has yet to collect any of the money, according to the document filed Friday with … Continue reading “Baird Venture Capital Group Raising $150M For Fourth Fund”
Novelos Becomes Cellectar, Returns to Madison Roots
Novelos Therapeutics today announced a corporate name change that returns to the roots of the Madison, WI, company. Novelos (OTCQX: [[ticker:NVLT]]) is now Cellectar Biosciences and will trade under the stock ticker symbol (OTCQX: [[ticker:CLRB]]) effective Wednesday. The new name should be familiar to those who follow Wisconsin’s life sciences industry. Novelos was formerly based … Continue reading “Novelos Becomes Cellectar, Returns to Madison Roots”
From Oakland to Milwaukee, Molding Black Youths Into Entrepreneurs
Even with a flurry of national news coverage, there are some questions about the shooting death of Trayvon Martin that might never be answered. This much is clear: the confrontation that took the Florida teenager’s life was a drawn-out encounter that could have been cut off several times. If Martin had an easy way to … Continue reading “From Oakland to Milwaukee, Molding Black Youths Into Entrepreneurs”
Novelos Cancer Drug to Enter Phase II With $4M Investment
Novelos Therapeutics said today it will raise $4 million from investors that will allow the company to initiate a Phase II clinical trial of one of its cancer drugs. Madison, WI-based Novelos (OTCQX: [[ticker:NVLT]]) is developing compounds that either target and kill cancer cells or act as imaging agents for detecting cancer. Its drugs are … Continue reading “Novelos Cancer Drug to Enter Phase II With $4M Investment”
3 Takeaways From Madison Startup Fair: More, Faster, Better
Usually it’s the job candidates who have to fight to stand out in discussions with potential employers at a job fair, not the other way around. But for tech startups operating with a lean staff and budget, trying to entice young talent when your booth is next to big names like Google and General Electric … Continue reading “3 Takeaways From Madison Startup Fair: More, Faster, Better”
Keane D’Souza VC Fund Likely Dead
A $50 million venture capital fund that prominent Milwaukee-area investors Tim Keane and Trevor D’Souza have been trying to pull together since 2012 is almost certainly dead, Xconomy has learned. Keane and D’Souza are both members of Golden Angels Investors, a group of about 100 Wisconsin and Illinois investors that Keane founded in 2002 and … Continue reading “Keane D’Souza VC Fund Likely Dead”
Esser Taps Former Wisconsin Funeral Trust Advisors for New Fund
Teresa Esser, a well-known Milwaukee angel investment manager, has raised $1.5 million for a new venture capital fund that is being co-managed by two investment advisors formerly with the financially troubled Wisconsin Funeral Trust, Xconomy has learned. Esser has formed Greenpoint Global Mittelstand Fund I LLC with Michael and Patrick Hull, brothers who formerly worked … Continue reading “Esser Taps Former Wisconsin Funeral Trust Advisors for New Fund”
Propeller Health Makes Mobile Monitoring Easy for Seniors
With an aging U.S. population and the push to control healthcare costs, entrepreneurs are rushing to develop innovative consumer health products that could help patients avoid expensive hospital visits. But for some healthtech startups, a key question is how to design products for a wide range of ages, including some older folks who don’t own … Continue reading “Propeller Health Makes Mobile Monitoring Easy for Seniors”
Lucigen Takes On Diagnostic Giants With On-the-Spot Pathogen Tests
[Corrected 1/30/14, 8:58 am. See below.] Lucigen’s ambitious plan to challenge big diagnostic firms with its own rapid tests for infections like flu and strep traces its origins to a Yellowstone National Park hot spring dubbed “Octopus Spring.” That’s where molecular biologists David Mead and colleague Tom Schoenfeld in the early 2000s discovered an enzyme … Continue reading “Lucigen Takes On Diagnostic Giants With On-the-Spot Pathogen Tests”
Marshfield Clinic Aims to Boost Tech Transfer With Cleveland’s Help
The next scientific discovery with the potential to revolutionize healthcare could come from anywhere, whether it’s a massive Boston hospital or a rural Midwestern clinic. But when it comes to the complicated process of taking those discoveries to market, a Boston research team is going to have access to resources its rural brethren can only … Continue reading “Marshfield Clinic Aims to Boost Tech Transfer With Cleveland’s Help”