The Madworks seed accelerator in Madison, WI, one of several grant-based startup accelerators launched in the state last year, is starting to show some early, but small, success. Now its leaders intend to continue building momentum and fine-tuning the program as it begins its third session next month. Last summer, Madworks used a $90,000 grant … Continue reading “Madworks Accelerator Out to Prove Value of Grants to Startups”
Category: National
Fontinalis Invests in Cloud-Based Air Cargo Startup SmartKargo
Fontinalis Partners, the Detroit-based venture capital firm focused on next-generation mobility and transportation startups, announced this week that it has invested in SmartKargo, headquartered in Cambridge, MA. The terms of the deal were not disclosed. SmartKargo was founded by MIT grads in 2013 to harness cloud computing, data analytics, and mobile devices in the management … Continue reading “Fontinalis Invests in Cloud-Based Air Cargo Startup SmartKargo”
Array Biopharma Gets Rights to Second Novartis Cancer Drug
The pending $16 billion deal that would see GlaxoSmithKline sell its cancer drugs to Novartis continues to pay dividends for an unlikely beneficiary—Boulder, CO-based Array BioPharma. Array (NASDAQ: [[ticker:ARRY]]) announced Friday that it has reached a definitive agreement with Novartis to acquire worldwide rights to encorafenib, a drug candidate to treat melanoma and colorectal cancer. … Continue reading “Array Biopharma Gets Rights to Second Novartis Cancer Drug”
Online Travel Consolidation: Expedia Buys Travelocity for $280M
Bellevue, WA-based Expedia (NASDAQ: [[ticker:EXPE]]) has purchased Travelocity as consolidation continues in the online travel industry. Expedia paid Sabre Corporation (NASDAQ: [[ticker:SABR]]) $280 million for Travelocity, formed in 1996. In 2013, Expedia competitor Priceline.com (NASDAQ: [[ticker:PCLN]]) acquired Kayak (NASDAQ: [[ticker:KYAK]]) for $522.4 million in cash and 1.5 million shares of stock. Since 2013, Expedia technology has underpinned … Continue reading “Online Travel Consolidation: Expedia Buys Travelocity for $280M”
As Box IPOs, a Competitor Previews the Market Share Battle
[Corrected 1/23/15, 10:20 am. See below] The Bay Area is ground zero for the hotly contested market in Web-based data storage and file sharing for businesses, and local competitors have been closely watching Los Altos, CA-based Box’s long run-up to its IPO. Box made its trading debut today on the New York Stock Exchange, where … Continue reading “As Box IPOs, a Competitor Previews the Market Share Battle”
BioHouston to Honor Female Execs in Life Sciences, Energy, & Space
When Jacqueline Northcut began her 18-year career at a major accounting firm, at most three of the firm’s 80 partners were women, she says. By the time Northcut herself made partner at the former Arthur Andersen, the numbers in the C-suite were still far from parity. “But the good news is, by that point, we … Continue reading “BioHouston to Honor Female Execs in Life Sciences, Energy, & Space”
Innovation Hub: Who Needs Talent?
How many articles have been written about the innate business acumen of Steve Jobs, the brilliant coding abilities of Mark Zuckerberg, the extraordinary gifts of Yo Yo Ma? And what if they were all wrong? Geoff Colvin has combed through the research, and he argues that, again and again, scholars have almost completely discounted the … Continue reading “Innovation Hub: Who Needs Talent?”
Former Apple Speech Scientist Joins Secretive Mobile Startup
A key speech scientist working on Apple’s Siri application has left the biggest company in tech to join a secretive new startup stocked with talent from the speech-technology world. The startup, Semantic Machines, is headquartered in the Boston area and has an office in Berkeley, CA. One of its top employees is chief technology officer Larry … Continue reading “Former Apple Speech Scientist Joins Secretive Mobile Startup”
FilterEasy—Making Smart Homes Smarter & More Efficient
Most homeowners can’t remember the last time they changed the air filters for their heating and air conditioning units. Startup FilterEasy wants to make sure homeowners never have to remember again. FilterEasy sells air filters through an online subscription service that sends filters to homeowners on a prescribed schedule. Thad Tarkington, CEO and co-founder of … Continue reading “FilterEasy—Making Smart Homes Smarter & More Efficient”
East Coast Biotech Roundup: Alnylam, Stock Offerings, Curis, & More
The post-J.P. Morgan hangover set in this week. Biotech news slowed, largely aside from President Obama’s Precision Medicine Initiative and a parade of follow-on financings, which we’ll detail below. Indeed, as 2015 kicks off, optimism remains unbridled in the sector: the NASDAQ Biotechnology Index (NASDAQ: [[ticker:IBB]]) is hitting record highs. Will we end the year … Continue reading “East Coast Biotech Roundup: Alnylam, Stock Offerings, Curis, & More”
Invention & Re-Invention: Newcomers Explain Silicon Valley’s Allure
It’s always good to see things through fresh eyes. If you’re part of the Bay Area tech community, you can take for granted the constant news about clever inventions, flush financing rounds, and intriguing jobs rising from this concentrated region of innovation. My antidote to that ho-hum mood was talking to three of the 30 … Continue reading “Invention & Re-Invention: Newcomers Explain Silicon Valley’s Allure”
Escalate Capital Closes on $235 Million Fund
Escalate Capital Partners, an Austin, TX-based mezzanine investor, has closed on a $235 million fund, the firm said in a written statement today. Aptly named Escalate Capital III, the fund is the firm’s third and its largest. Escalate focuses on high-growth, later stage tech companies, from software as a service to healthcare. It typically invests … Continue reading “Escalate Capital Closes on $235 Million Fund”
$68M Round Puts Kaminario Back in the Flash Data Storage Mix
It’s an exciting time to be in data storage, according to Kaminario founder and CEO Dani Golan. Flash memory is revolutionizing the industry, creating billion-dollar opportunities for companies like Kaminario, a Newton, MA-based company that builds all-solid-state data storage systems for enterprise customers. He also says it’s an exciting time to be at Kaminario, which … Continue reading “$68M Round Puts Kaminario Back in the Flash Data Storage Mix”
West Coast Biotech Roundup: Zymeworks, Lee Hood, Sue Biggins, Nektar
The news flow has been slow since the end of this year’s J.P. Morgan madness. The week in life sciences was dominated by President Obama’s call for a national precision medicine initiative. (For a West Coast angle, Xconomy asked genetics pioneer and Seattle fixture Lee Hood to weigh in with his thoughts.) Let’s start our … Continue reading “West Coast Biotech Roundup: Zymeworks, Lee Hood, Sue Biggins, Nektar”
UW Rebrands Commercialization Office CoMotion, Sets Broader Mission
Add a new name to the list of major changes at the University of Washington’s technology transfer office over the last year. The new moniker, CoMotion, is meant to signal a broader mission for what was formerly called the Center for Commercialization. “We’re expanding beyond [intellectual property] and startups and licensing to include supporting the … Continue reading “UW Rebrands Commercialization Office CoMotion, Sets Broader Mission”
Persado, With $21M More, Tools Up Its Software for Persuasion
On Thursday, New York-based Persado announced it raised $21 million in a Series B round led by StarVest Partners, with participation from Bain Capital Ventures, American Express Ventures, and Citi Ventures. The funding will go towards marketing and various development efforts for Persado’s software, which uses natural language processing to help marketers pick the right … Continue reading “Persado, With $21M More, Tools Up Its Software for Persuasion”
Local Motors Looks to Disrupt Manufacturing with 3D-Printed Car
At this year’s edition of the North American International Auto Show (NAIAS), going on right now in Detroit, I saw a few things I hadn’t seen in previous years. One was the presence of bomb-sniffing dogs, thanks to a suspicious package left across the street from the auto show that was later determined to be … Continue reading “Local Motors Looks to Disrupt Manufacturing with 3D-Printed Car”
Will Spinoffs, Layoffs Make eBay the Yahoo of 2015?
If the tech industry is a hub for dealmaking, expectations are brewing that e-commerce may be the busiest sector this year. Auction site eBay (NASDAQ: [[ticker:EBAY]]) is stirring the pot the most after announcing with its earnings Wednesday that it may sell or IPO its eBay Enterprise business, which runs online shopping for companies with … Continue reading “Will Spinoffs, Layoffs Make eBay the Yahoo of 2015?”
Design Icon Diane von Furstenberg Talks Entrepreneurship at NYU
Last night, fashion designer Diane von Furstenberg shared some frank insights on her early challenges building a business—and being heard—when she gave the keynote address for the Women Entrepreneurs Festival held at New York University. In a fireside chat, von Furstenberg spoke with New York-based angel investor Joanne Wilson, who cofounded the two-day event. Von … Continue reading “Design Icon Diane von Furstenberg Talks Entrepreneurship at NYU”
Ministry of Supply Flight-Tests SF Store: Dress Clothes à la NASA
You’re a Bay Area tech worker who thinks every problem can be solved by science. So why are you sitting in a sweaty shirt? Ministry of Supply, the menswear outfit founded in Boston by former MIT students, is betting you want your next shirt to have laser-drilled perforations in its armpits to, er…ventilate you. So … Continue reading “Ministry of Supply Flight-Tests SF Store: Dress Clothes à la NASA”
Q&A: SprinkleBit Sets Out to Crowdsource Active Investing
SprinkleBit CEO Alexander Wallin says he got hooked on investing in stocks when he was 14, working at a small ice cream kiosk in Skärhamn, on the West Coast of Sweden. He invested everything he earned that summer in Metro International, a media company then trading at 3.80 Swedish Krona a share. Metro later issued … Continue reading “Q&A: SprinkleBit Sets Out to Crowdsource Active Investing”
Two Generations of Geneticists, Two “Precision Medicine” Wish Lists
In late 2012, President Obama awarded Leroy “Lee” Hood the National Medal of Science for a lifetime of achievements, including the invention of machines that made the historic Human Genome Project possible. So when Obama announced yesterday a “precision medicine initiative”—something that would surely require ever-deeper knowledge about the personal genetic differences that influence health … Continue reading “Two Generations of Geneticists, Two “Precision Medicine” Wish Lists”
New Cash for VMTurbo, CloudHealth Highlights Big Disruption in IT
Software for cloud-computing infrastructure and data centers is evolving fast. Two financing deals announced Wednesday for Boston startups underscore an important trend: there’s still a huge opportunity to challenge enterprise IT giants in the cloud. VMTurbo has raised $50 million in a Series D round from Iconiq Capital and previous investors Bain Capital Ventures, Globespan … Continue reading “New Cash for VMTurbo, CloudHealth Highlights Big Disruption in IT”
Adtech Startup Choozle Raises $4.1M to Simplify Digital Advertising
A lot has been said about adtech startups, programmatic advertising, and real-time bidding. But Denver startup Choozle might be saying something new—or at least saying it in a more clever way. Choozle’s mantra is “programmatic to the people,” and its goal is to make adtech software simple and inexpensive enough for small- and medium-sized businesses … Continue reading “Adtech Startup Choozle Raises $4.1M to Simplify Digital Advertising”
Alnylam CEO: More Cash in Hand Is to Fuel Expansion From Within
Biotechs keep cashing in. The latest is Cambridge, MA-based Alnylam Pharmaceuticals (NASDAQ: [[ticker:ALNY]]), which is entering the most critical juncture in its 13-year history as it tries to enter the rarified realm of biotechs with their own products on the market. The RNA interference firm said Monday it would tap the public markets for a … Continue reading “Alnylam CEO: More Cash in Hand Is to Fuel Expansion From Within”
VC Activity in MI Nearly Doubled in 2014, Beating National Trend
Venture capital activity in Michigan nearly doubled in 2014, according to the MoneyTree report released last week by PricewaterhouseCoopers and the National Venture Capital Association (NVCA). There was $219 million in venture capital invested in Michigan startups last year, compared with $111 million in 2013. Michigan’s rate of increase far exceeds the national average: 97 … Continue reading “VC Activity in MI Nearly Doubled in 2014, Beating National Trend”
Wisconsin Roundup: Murfie, Kegonsa, Ward 5, Silicon Pastures, & More
Here are a few of the latest headlines in Wisconsin’s innovation and technology community: —Madison-based Murfie has raised $876,073 in a funding round that could total $1.25 million when it closes, according to a new SEC document. The money comes from angel investment groups, CEO Matt Younkle said. Murfie is an online marketplace for CD … Continue reading “Wisconsin Roundup: Murfie, Kegonsa, Ward 5, Silicon Pastures, & More”
“Social” Robot Maker Jibo Adds $25M, New CEO With Speech Chops
After colonizing millions of pockets and purses with smartphones, the tech industry is finally making serious inroads to the home with interactive speakers, smart thermostats, networked camera systems, and—maybe soon—helpful little robots. That last one is the specialty of Jibo, a Boston-area company started by MIT Media Lab professor Cynthia Breazeal. The company’s eponymous robot is still … Continue reading ““Social” Robot Maker Jibo Adds $25M, New CEO With Speech Chops”
Canary Hires Ex-Googler as COO, Ships Its Smart Home Sensor
The team at New York-based Canary has beefed up its leadership with a seasoned executive from the technology scene. On Tuesday, the company named Julio Pekarovic as its chief operating officer. He previously was chief financial officer and chief administrative officer at Quantcast, which develops technology for audience measurement. Prior to that, he was a … Continue reading “Canary Hires Ex-Googler as COO, Ships Its Smart Home Sensor”
Freelancer Manager Work Market Takes In $20 Million
Work Market, a maker of software meant to help employers manage freelancers, secured $20 million more from its existing investors Wednesday, a week after announcing a new chief executive officer. The software-as-a-service company plans to use the funding for R&D and its go-to-market capabilities, Stephen DeWitt, who was named CEO Jan. 13, in a statement. Jeffery … Continue reading “Freelancer Manager Work Market Takes In $20 Million”
Empire Robotics Takes On Jimmy Fallon in Beer Pong
It’s not exactly the pinnacle of robotic achievement, but it is progress. And one heck of a fun demo. If you watched “The Tonight Show” with Jimmy Fallon on Friday, you might have seen it: Fallon playing beer pong against a robot. The machine is made by Boston-based startup Empire Robotics. It uses a flexible, … Continue reading “Empire Robotics Takes On Jimmy Fallon in Beer Pong”
Petco Adds Online Delivery With Fast-Growing Startup Instacart
[Corrected 1/26] Dogs need groceries, too. Instacart, the grocery-delivery startup that recently raised $220 million from investors, is taking its quick-turnaround online delivery service beyond the supermarket for the first time in a partnership with national pet-goods retailer Petco. The partnership is hitting the Boston and San Francisco markets first, and could be expanded if Petco likes … Continue reading “Petco Adds Online Delivery With Fast-Growing Startup Instacart”
Crowdfunding is Banging on Biotech’s Door. Will We Let It In?
In the summer of 2013, the medical device startup Scanadu made headlines around the world when Scout, its handheld medical diagnostic tool for consumers, raked in an astounding $1.6 million on the popular crowdfunding platform Indiegogo. That’s all well and good for a medical device, but most biotech veterans remain skeptical that crowdfunding can make … Continue reading “Crowdfunding is Banging on Biotech’s Door. Will We Let It In?”
Index Ventures Leads $20M Round for Data Analytics Startup Interana
Interana, a two-year-old data analytics company that emerged from stealth mode in October, has raised $20 million in a Series B round led by international venture firm Index Ventures. The mission of Menlo Park, CA-based Interana might be called “bringing big data analysis to the masses.” Interana designed its data exploration tools to make it … Continue reading “Index Ventures Leads $20M Round for Data Analytics Startup Interana”
What President Obama’s Precision Medicine Initiative Might Include
In case you missed it, President Obama used his State of the Union speech Tuesday night to call for a national “precision medicine” initiative. But, as often happens in these Halloween candy bags of Presidential wish lists, the details were scant. Here’s the entirety of what he said about it: I want the country that … Continue reading “What President Obama’s Precision Medicine Initiative Might Include”
SpaceX’s $1 Billion Financing Follows Musk’s Expansion Talk
Space Exploration Technologies Corp. (SpaceX) landed a major $1 billion financing round led by Google and Fidelity on Tuesday. SpaceX will use some of the money for manufacturing satellites, the company announced in a statement on its website. The news comes just a week after billionaire CEO Elon Musk told Bloomberg News that he is … Continue reading “SpaceX’s $1 Billion Financing Follows Musk’s Expansion Talk”
In the Jiu-Jitsu Match of Biotech Risk, a Reminder of Other Paths
Risk makes for great headlines. I’m guilty as charged. My first column for Xconomy questioned whether biotech venture capitalists were losing relevance, running away from risk in an inherently risky business. Heading full steam into the new year, there will be plenty of headlines and stories from us and our peers about the brave and … Continue reading “In the Jiu-Jitsu Match of Biotech Risk, a Reminder of Other Paths”
Shapr Launches App for Matching Up Business Leads, Raises $3.1M
With a dose of the matchmaking mechanics found in dating services, on Tuesday a startup called Shapr unveiled its app that connects professionals looking for leads, jobs, and opportunities. The startup also raised $3.1 million in a seed round with private investors that include BlaBlaCar CEO Frédéric Mazzella. Based in New York and Paris, Shapr … Continue reading “Shapr Launches App for Matching Up Business Leads, Raises $3.1M”
Seattle Funding Roundup: Porch, Avalara, Alliance of Angels, & More
There is magic in the air after this past weekend’s NFC Championship game, in which the Seahawks took us from the lowest lows to the highest highs in the course of about five minutes of game time. Meanwhile, some significant funding deals went down. Porch continued on its fundraising tear. Avalara brought in late-stage investor … Continue reading “Seattle Funding Roundup: Porch, Avalara, Alliance of Angels, & More”
ViroCyt Raises $3.5M for Virus Quantification Technology
ViroCyt, a life sciences startup based in Boulder, CO, recently raised $3.5 million to continue marketing lab equipment that scientists can use to determine the amount of virus particles (such as Ebola) that is present in a blood or tissue sample. According to SEC filings, ViroCyt has raised $11.7 million since it was formed in … Continue reading “ViroCyt Raises $3.5M for Virus Quantification Technology “
Dallas’ AveXis Gets $10M to Bring Gene Therapy to Rare Spinal Disorder
Spinal Muscular Atrophy, or SMA, is a deadly inherited disease. It affects about 1 of 10,000 babies, but it tends to be fatal—it’s the number one genetic cause of death for infants, and most of them die by age 3. There is no approved treatment for SMA, and as a result, it’s become a big … Continue reading “Dallas’ AveXis Gets $10M to Bring Gene Therapy to Rare Spinal Disorder”
Greater Boston’s One Thing
[Updated 6/23/15 with video. See below] It is a truism in career development that you should only do one thing and do it well. You don’t want to pursue multiple business endeavors—that would scatter your energy. Offer a consistent image to the world. Focus. When I moved back to Cambridge for my sabbatical at MIT, … Continue reading “Greater Boston’s One Thing”
Nonprofit Investor BrightStar Herds Startup Deals, Seeks More Donors
Some dealmakers weren’t sure what to expect from BrightStar Wisconsin Foundation when the nonprofit, which invests donations into Badger State startups, came onto the scene in late 2013. Turns out, the organization has proven itself not only as a valuable, albeit small, source of capital, but also as a shrewd negotiator that has pushed fellow … Continue reading “Nonprofit Investor BrightStar Herds Startup Deals, Seeks More Donors”
With New State Rules, WeFunder to Offer Equity Crowdfunding in MA
Massachusetts has joined the growing list of states that are opening up private company investing to people who aren’t already rich, and one online investing startup is already planning to take advantage. Under new state rules issued this week, private Massachusetts companies can begin selling stock to just anybody who wants to purchase it—provided they’re … Continue reading “With New State Rules, WeFunder to Offer Equity Crowdfunding in MA”
The Lion’s Den Entertains, But Will It Engage New Investors?
I laughed. I cried. I sat on the edge of my seat as two investors with divergent views of capitalism battled for the favor of an aspiring entrepreneur with a great idea. There was popcorn. The initial running of Tom Douglas’ The Lion’s Den, an effort to broaden the pool of wealthy Seattleites investing in … Continue reading “The Lion’s Den Entertains, But Will It Engage New Investors?”
Big Deals Drive Jump in 2014 VC Investment in Colorado
Venture capital investors pumped more cash into tech and life sciences companies across the country in 2014 than they have in years, with a handful of companies such as Uber and Snapchat leading the way by closing “megadeals.” In Colorado, the same trend held, albeit on a smaller scale. Tech companies in the state scored … Continue reading “Big Deals Drive Jump in 2014 VC Investment in Colorado”
J.P. Morgan 2015: Notes, Thoughts, And Conversations From the Vortex
The word “story” gets ill treatment at events like the J.P. Morgan Healthcare Conference. It often means an elevator pitch from a harried CEO to a distracted investor, or a few observations a journalist strings together with a headline, or Twitter snark trying to pass for insight. But we heard a real story on Sunday … Continue reading “J.P. Morgan 2015: Notes, Thoughts, And Conversations From the Vortex”
TX Roundup: New Money, Texas Venture Labs, Aceable, & Roverpass
The new year is progressing at a rapid pace, as are Texas’s innovators. Here’s the latest on new products, a shout-out to Houston and Austin as meccas of STEM jobs, and a slew of fresh money being invested into startups. —Got a traffic ticket? Aceable in Austin, TX, says you can now take a defensive … Continue reading “TX Roundup: New Money, Texas Venture Labs, Aceable, & Roverpass”
Dan Shapiro Needs Help Building a Replicator at Seattle Startup Glowforge
Dan Shapiro and his team of serial entrepreneurs are making something to help other people make things. It might be a Star Trek-like replicator—or at least a very early prototype of one. They have a milling machine as big as an elephant in their facility in Seattle’s SoDo neighborhood, more than $1 million in angel … Continue reading “Dan Shapiro Needs Help Building a Replicator at Seattle Startup Glowforge”
A Year Later, Tech Education Startup Thinkful Has More Cash, New Plans
When we last caught up with Thinkful, a New York-based technology education company, it was dabbling in adding offline lessons to its curriculum. This week, the startup announced it raised $4.25 million, in a round led by Floodgate Fund, and has plans to more directly help its students find new jobs. Thinkful offers primarily online … Continue reading “A Year Later, Tech Education Startup Thinkful Has More Cash, New Plans”