Byju’s, an edtech company based in India that claims a $3.6 billion valuation based on its sales success there, announced it has acquired Palo Alto, CA-based learning-through-play firm Osmo for $120 million. Named after the teacher Byju Raveendran, who founded the company in 2011, Byju’s is making its first acquisition in the United States to … Continue reading “Educational Play Kit Company Osmo Sold to India’s Edtech Firm Byju’s for $120M”
Category: National
FDA’s Gottlieb Adds Confusion to Aimmune’s Claims of Shutdown Delay
The first biotech company to cite the partial government shutdown as a reason for serious delay was Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]), as Xconomy reported Tuesday. The announcement, however, soon raised more questions than answers. Aimmune reported in a regulatory filing Tuesday that the FDA would not start reviewing its peanut-allergy treatment, AR101, because of the … Continue reading “FDA’s Gottlieb Adds Confusion to Aimmune’s Claims of Shutdown Delay”
ScaleFactor Adds $30M from Bessemer to Boost Accounting Software
Austin—ScaleFactor is adding a $30 million round of funding led by Bessemer Venture Partners to make new hires and add more features to its software that automates accounting and provides financial insights. The Austin, TX-based company targets small- and medium-sized business with its software, noting that there are 19 million in the U.S. with fewer … Continue reading “ScaleFactor Adds $30M from Bessemer to Boost Accounting Software”
What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech
Fort Worth, TX—Data analytics and visual search technologies are increasingly being used by law enforcement agencies, growth that has captured the attention of tech giant Motorola. The Chicago-based tech company, which has long sold narrow-band radios to law enforcement, has been building its arsenal of software and camera technologies through a series of acquisitions. The … Continue reading “What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech”
CommonGrounds Raises $100M to Open More New Flexible Office Spaces
Billions of dollars have already flowed to the purveyors of shared workspaces, and the investment spigot isn’t turning off yet. CommonGrounds Workspace, a San Diego, CA-based company that operates flexible office spaces in California and Colorado today, announced Wednesday that it had raised $100 million in a Series A financing to expand its lineup to … Continue reading “CommonGrounds Raises $100M to Open More New Flexible Office Spaces”
With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode
It’s often not obvious precisely when an early-stage business reaches the point where it outgrows the “startup” label. Case in point: Madison, WI-based Phoenix, which sells neutron generators and provides image-reading services to organizations in industries ranging from healthcare to renewable energy to aerospace and defense. “From a cultural standpoint, everybody’s starting to feel the … Continue reading “With New Cash and Facilities, Phoenix Transitions Out Of Startup Mode”
FDA Panel Backs Amgen Bone Drug, Says Benefits Outweigh Heart Risks
[Updated 1/17/19, 8:50 a.m. See below.] An experimental Amgen osteoporosis drug that had sparked concern about cardiovascular side effects has won the backing of an FDA advisory panel. A total of 15 panelists on Thursday voted that the benefits of the drug, romosozumab (Evenity), outweigh its risks, and are enough to support its approval. But … Continue reading “FDA Panel Backs Amgen Bone Drug, Says Benefits Outweigh Heart Risks”
Austin’s Media Tech Incubator Readies for First Group of Startups
Austin—An incubator for startups that are developing a media product is in its final week of accepting applications. Called Collective, the incubator is focused on startups that are working on innovating the media space, which includes augmented and virtual reality, publishing, news, public relations, video games, music, sound, film, marketing, advertising, radio, and podcasting, the … Continue reading “Austin’s Media Tech Incubator Readies for First Group of Startups”
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”
Auto Show Notes: Techstars Mobility Rebrands, Expands Mission
Detroit’s North American International Auto Show was the place for a plethora of mobility-related announcements this week, including some significant news from the Boulder, CO-based Techstars accelerator program. Techstars launched an incubator for mobility startups in the Motor City four years ago, and the program has flourished since. In recognition of that success as well … Continue reading “Auto Show Notes: Techstars Mobility Rebrands, Expands Mission”
ScoutRFP Scores $33M to Compete in Supplier Management Sector
ScoutRFP, whose software is designed to help businesses streamline the process of ordering goods from suppliers, announced that it raised $33 million in a Series C fundraising round led by Scale Venture Partners. San Francisco-based Scout, part of a tech sector dubbed supplier relations management, or SRM, aims to free businesses from painstaking traditional methods … Continue reading “ScoutRFP Scores $33M to Compete in Supplier Management Sector”
NAIAS: Ford’s Foray into Microtransit Proved Valuable, Klevorn Says
Detroit’s North American International Auto Show (NAIAS) pulled back the curtains for a media preview Monday and Tuesday before it opens its doors to the public next week. Coming on the heels of CES—the annual technology conference in Las Vegas that has increasingly become the preferred venue for automakers to showcase their latest technology developments—the … Continue reading “NAIAS: Ford’s Foray into Microtransit Proved Valuable, Klevorn Says”
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”
Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter
Cancer immunotherapy is, in a word, tantalizing. It might save the life of someone at death’s door and keep the cancer at bay for years. Or it might not work at all. There’s no telling what a patient will experience. “There’s a real poverty of understanding of how the machine that is us works,” says … Continue reading “Merck And The Future of Immuno-Oncology: A Chat With Roger Perlmutter”
AlwaysAI Adds $4M to Bring Deep Learning to Embedded ‘Edge’ Devices
Many of our devices, from wearables to medical instruments to drones, can capture reams of images. Using algorithms to analyze those images on the devices, in turn, generally takes loads of computing power and energy—sometimes more than is feasible. AlwaysAI says it is getting ready to sell its software for enterprise developers looking to make … Continue reading “AlwaysAI Adds $4M to Bring Deep Learning to Embedded ‘Edge’ Devices”
Five Prime’s Shakeup Cuts Staff 20%, Keeps Focus on Clinical Programs
Five Prime Therapeutics is cutting its headcount by 20 percent, part of a cash-saving effort the company is making to focus on the cancer drugs it has already advanced into clinical trials. South San Francisco, CA-based Five Prime (NASDAQ: [[ticker:FPRX]]) said Tuesday that the corporate restructuring will reduce operating expenses by $10 million in 2019 … Continue reading “Five Prime’s Shakeup Cuts Staff 20%, Keeps Focus on Clinical Programs”
Walgreens Prepares for High-Tech Future with Microsoft Partnership
Microsoft is making a “wal-to-wal” bet that retailers can harness the Seattle-area tech giant’s products and services to upgrade the brick-and-mortar experience for consumers and patients. About six months after it struck a partnership with Walmart (NYSE: [[ticker:WMT]]), Microsoft on Tuesday announced a seven-year agreement with Walgreens (NASDAQ: [[ticker:WBA]]), the specific financial terms of which … Continue reading “Walgreens Prepares for High-Tech Future with Microsoft Partnership”
Pivot to Software: Drone Maker CyPhy Rebrands, Seeks Airborne A.I.
The hardware business isn’t cutting it for CyPhy Works, a maker of tethered drones for everything from military uses to disaster response and the oil and gas industry. Today, the drone company announced a pivot to software—and a rebranding to Aria Insights. (The name comes from the word for a group of canaries.) The investors, … Continue reading “Pivot to Software: Drone Maker CyPhy Rebrands, Seeks Airborne A.I.”
Smartsheet Buys TernPro, Seattle Developer of Collaboration Tools
Smartsheet, a Bellevue, WA-based company that develops collaborative software allowing users to track projects and manage company processes, announced Tuesday it has acquired Seattle-based TernPro, whose flagship product Slope lets customers mark up documents, images, videos, and other media before releasing them to a wider audience. Financial terms of the deal were not disclosed. Smartsheet’s … Continue reading “Smartsheet Buys TernPro, Seattle Developer of Collaboration Tools”
A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem
As Xconomy’s editors looked back at the year just passed, we asked technology leaders to comment on the trends they’d observed in 2018, and the developments they expected in 2019. Some leaders responded with their views on the business impact of the Trump era, pointing to specific policy positions such as tax code revisions, curbs … Continue reading “A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem”
Government Shutdown Hits Biotech as FDA Punts Review of Aimmune Drug
[Updated, 11:25 am ET, see below] The partial U.S. government shutdown has just had its first tangible effects on the potential approval of a new drug: The FDA review of a peanut allergy treatment from Aimmune Therapeutics (NASDAQ: [[ticker:AIMT]]) has been delayed. In a regulatory filing posted late Wednesday, Aimmune, of Brisbane, CA, said that … Continue reading “Government Shutdown Hits Biotech as FDA Punts Review of Aimmune Drug”
IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity”
Businesses racing faster and faster to put their data and applications into multiple cloud services will soon have to figure out how to keep an eye on it all. Start thinking about the hundreds of users, the dozens of accounts, and the handful of different cloud services that don’t always speak the same language, and … Continue reading “IBM Vets Launch Sonrai Security, Eyeing Multi-Cloud “Complexity””
Austin’s Localeur, Millennial-Focused Travel Startup, Hits 100 Cities
Austin—Localeur, a travel recommendation startup, is celebrating its (nearly) fifth anniversary by announcing its 100th city. The Austin startup focuses on recruiting a group of local residents who can provide insider information on each travel destination. The “localeurs”—a portmanteau of local and connoisseur—are millennials catering to the tastes of their own. Localeur made its debut … Continue reading “Austin’s Localeur, Millennial-Focused Travel Startup, Hits 100 Cities”
Teradata Names Oliver Ratzesberger as New CEO
Teradata on Monday announced that Oliver Ratzesberger, its chief operating officer, has been tapped as president and CEO Victor Lund’s successor. The company, which last year relocated its headquarters from Dayton, OH, to San Diego, is in the midst of a concerted effort to transform itself from a legacy data storage provider to an innovative, … Continue reading “Teradata Names Oliver Ratzesberger as New CEO”
San Diego Life Science Companies See Stock Bumps, Slips in JPM Wake
The massive life sciences meeting now known as the J.P. Morgan Healthcare Conference started out as a clubby get-together hosted by investment bank Hambrecht & Quist. Back in the days of H&Q, bankers and entrepreneurs flocked to San Francisco to get information about biotech companies that was otherwise hard to come by. Investors, thrilled—or spooked—by … Continue reading “San Diego Life Science Companies See Stock Bumps, Slips in JPM Wake”
Goods Unite Us Raises $500K to Track Corporate Political Leanings
Goods Unite Us, a Madison, WI-based startup seeking to inform shoppers about the political leanings of corporations they purchase products and services from, says it closed a $500,000 seed funding round last week. MaSa Partners, Humble Rogue Ventures, and Mark Bakken, a Madison-based entrepreneur and investor, co-led the round, Goods Unite Us says. Launched in … Continue reading “Goods Unite Us Raises $500K to Track Corporate Political Leanings”
Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M
[Updated, 1/18/19, 1:10 pm CT] Austin—The grocery store shelf has yet to be plugged into the increasingly digital food supply chain. Instead, inventory is typically tallied by employees by hand in a slow and laborious process. “It’s one big black hole with groceries, not knowing what is exactly on the retail shelf and available for … Continue reading “Pensa, AI-Enabled Drones Maker for Inventory Monitoring, Raises $5M”
Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown
The partial government shutdown may have diminished staffing at the SEC, but it hasn’t dimmed the hopes of biotech firms hoping to go public. On Friday, Kaleido Biosciences and Cirius Therapeutics both filed paperwork for their respective initial public offerings with the securities regulator. While it’s operating with “very limited staff” due to the shutdown, … Continue reading “Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown”
E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene
The changing of the guard transforming retail is accelerating. Sears, the nation’s first “everything store,” is teetering toward bankruptcy after years of stagnation as industry leaders prepare to gather in New York at the National Retail Federation’s annual conference. Yet, new startups—aided with tech tools like artificial intelligence, chatbots, and the like—are trying to reinvent … Continue reading “E-Commerce Startups, Legacy Stores Grapple With Changing Retail Scene”
Tech Companies Share Shutdown Losses, With Little Chance of Back Pay
As federal agency employees miss their first paychecks today due to the partial government shutdown that began Dec. 22, federal contractors and their workers—including technology professionals—face a loss of income that they may never recover. Big technology companies such as Oracle (NYSE: [[ticker:ORCL]]), Microsoft (NASDAQ: [[ticker:MSFT]]), and Amazon (NASDAQ: [[ticker:AMZN]]), as well as smaller tech … Continue reading “Tech Companies Share Shutdown Losses, With Little Chance of Back Pay”
Report: After a Boffo 2018, VC Deals in Digital Health May Flatten
Investments in digital health startups totaled $8.1 billion in 2018, a record year that marked a 42 percent increase over 2017’s total, according to a report released this week by Rock Health. But the report’s authors say it’s unlikely that venture capital investments in digital health, an area that encompasses the use of software and … Continue reading “Report: After a Boffo 2018, VC Deals in Digital Health May Flatten”
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”
Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More
Diabetes drugs are Eli Lilly’s bread and butter, but the pharmaceutical giant hasn’t lost its appetite for cancer drugs. It grabbed hold of a few more this week by betting $8 billion on Loxo Oncology. Loxo (NASDAQ: [[ticker:LOXO]]) has made a name for itself by becoming one of just two companies ever to earn an … Continue reading “Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More”
Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More
[Editor’s note: Ben Fidler and Sarah de Crescenzo coauthored this report.] It is here, and then it is gone. But by the time everyone staggers to the airport or back home to sleep in their own beds, the annual few days of the J.P. Morgan Healthcare Conference and everything that mushrooms around it seem just … Continue reading “Notes from the JPM19 Vortex: Price Apocalypse, Celgene Fallout & More”
To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase
San Antonio—Sridhar Kamma is the kind of car enthusiast who would meet up with other devotees a couple times a month to talk about the merits of a BMW M3 versus a Porsche Boxster, a Mustang versus a Camaro. He’s the type to post questions in online forums and blogs about where he could find … Continue reading “To Buy or Not to Buy: FunnelAI Studies Consumers’ Intent to Purchase”
Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health
[Updated 11:38 AM. Paragraph added.] A bunch of startups started 2019 off on the right foot taking big checks cut by investors that continue the boom from 2018. Read on for more. —Weather forecast company ClimaCell says its high-resolution data is now available in 40 countries, including India. In October, the Boston-based startup raised $45 … Continue reading “Boston Tech Watch: Boston Metal, TaxJar, ClimaCell, & WithMe Health”
Online Tech Expands Cloud, Data Services with Neverfail Acquisition
Online Tech, the Ann Arbor, MI-based provider of cloud services, beefed up its capabilities last month when it acquired the infrastructure-as-a-service and data protection businesses of Neverfail, an IT company located in Austin, TX. The terms of the deal were not disclosed. Online Tech CEO Brad Cheedle says his company offers managed services around cloud … Continue reading “Online Tech Expands Cloud, Data Services with Neverfail Acquisition”
Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On
The partial government shutdown could soon become the longest shutdown in history, and biotech firms that have submitted regulatory filings are facing greater uncertainty about their future plans. More than 40 percent of FDA workers and thousands at the SEC are furloughed, and FDA Commissioner Scott Gottlieb is resorting to Twitter to post updates about … Continue reading “Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On”
Victory Capital Acquires USAA Investment Arm, Moves to San Antonio
San Antonio—An Ohio investment firm that recently announced it would acquire an investment management arm of San Antonio-based USAA is now planning to move its headquarters to the Alamo City. Victory Capital Management (NASDAQ: [[ticker:VCTR]]) said Thursday it plans to open its San Antonio headquarters in mid-2019. The company is currently located in Brooklyn, OH, … Continue reading “Victory Capital Acquires USAA Investment Arm, Moves to San Antonio”
FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures
The market caps of some of the most successful tech titans reach as high as $1 trillion. Yet in 2018, perceptions about these dominant companies often reflected uneasiness and doubt—and for some, so did their stock performance. Maybe the mood shift has to do with the fact that the public and government leaders no longer … Continue reading “FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures”
Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16
The fiftieth anniversary of Apollo 8’s orbital visit to the moon underlines the importance of emotion and changes of perception in the history of innovation. Then and later, commentators said that the technological marvel reversed some of the gloom from the assassinations of Martin Luther King and Robert Kennedy, the Chicago police beating of dissidents … Continue reading “Apollo 8: Holding the Mirror Up to Our Planet—Milestones of Innovation 16”
Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ
When Black Diamond Therapeutics emerged from stealth mode last month with $20 million in backing and a handful of preclinical cancer drugs, the company signaled that another financing was in the works for 2019. That day is here. Black Diamond announced late Wednesday that it has closed $85 million in Series B financing, which the … Continue reading “Black Diamond Gets $85M for Cancer Drugs R&D and New Cambridge HQ”
Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels
[Updated 1/18/19, 3:27 pm. See below.] Venture capital investments rose in 2018 to levels not seen since the heady days of 2000, the last year U.S. startups collectively took in more than $100 billion. That’s according to PitchBook and the National Venture Capital Association’s Venture Monitor report, released this week, which tallied nearly 9,000 deals … Continue reading “Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels”
Providence Ventures Raises $150M to Invest in Healthtech Startups
Providence Ventures, the venture investing arm of Renton, WA-based health system Providence St. Joseph Health, says it has raised a $150 million fund to invest in early- and mid-stage healthcare technology businesses. The venture firm says it will consider making investments across several areas of digital health, including healthcare information technology and Internet-connected medical devices. … Continue reading “Providence Ventures Raises $150M to Invest in Healthtech Startups”
Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests
Beta Bionics, a startup developing a medical device that monitors and manages blood sugar levels in diabetes patients, has closed $63 million to back late-stage clinical tests of its AI-powered technology. The cash tops off a Series B round of funding announced last year. The Boston company, which counts diabetes drug giants Eli Lilly (NYSE: … Continue reading “Beta Bionics Secures $63M as AI-Driven “Pancreas” Heads to Key Tests”
With Room To Grow, Facebook Boston Moves Into Shiny, New Office
Facebook’s new Boston office—which is really in Cambridge, MA—is up and running, and there’s plenty of elbow room. The digs measure 130,000 square feet of open-style tech workspaces, something called micro-kitchens, a massive cafeteria, and cheeky-titled conference rooms. Floor-to-ceiling windows offer views of Cambridge, Boston’s Beacon Hill, the Zakim Bridge, and more, all from the … Continue reading “With Room To Grow, Facebook Boston Moves Into Shiny, New Office”
Smooth-Driving Startup ClearMotion Gets $115M for Production Push
[Corrected 1:02 pm ET. See below.] Auto technology startup ClearMotion says its active suspension system promising buttery-smooth rides on bumpy terrain is ready for prime time. The Boston-area business says it raised a $115 million Series D funding round led by Franklin Templeton Investments and it is working with a handful of automotive manufacturers to commercialize … Continue reading “Smooth-Driving Startup ClearMotion Gets $115M for Production Push”
Tetra Inks Deal with Shionogi to Support Fragile X, Alzheimer’s R&D
The lead drug of Tetra Discovery Partners is already in mid-stage clinical studies as a treatment for the rare Fragile X Syndrome. But the Grand Rapids, MI, biotech says its drug could also treat a disorder affecting far more people: Alzheimer’s disease. The startup has reached across the Pacific Ocean to land the cash for … Continue reading “Tetra Inks Deal with Shionogi to Support Fragile X, Alzheimer’s R&D”
The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks
When we have a chance to view it from a distance, the year 2018 may be seen as a period when innovations in a number of technological fields came together to transform not only the future of computing, but also the very structure of the Internet. First, entrepreneurs vying to invent self-driving vehicles, virtual assistants, … Continue reading “The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks”
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”