When it comes to startup tech hubs, U.S. cities from San Francisco to Austin to Boston come first to mind. But that is starting to change, as Asian cities—particularly in China—are snapping up more tech venture capital funding and exits, according to a new report from CB Insights. Silicon Valley tech startups pulled in the … Continue reading “How the Rise of Beijing and Shanghai Tech May Impact Silicon Valley”
Category: National
The Biggest Wisconsin Venture Round of the Decade… Didn’t Happen
Details surrounding a $127.4 million funding round, which groups that track venture capital investments have said Janesville, WI-based Shine Medical Technologies raised in 2014, were misconstrued in the years after the round was announced, according to people familiar with the deal. The Wisconsin Technology Council said as recently as last year that Shine’s 2014 funding … Continue reading “The Biggest Wisconsin Venture Round of the Decade… Didn’t Happen”
Helix Expands Real-World and Online Footprint with HumanCode Deal
Helix, which runs an online outlet for products based on customer DNA, has bought HumanCode, one of the app makers that contributes to its store. Denver-based HumanCode makes BabyGlimpse, which shows couples genetic traits that they might pass on to their children; and DNA Passport, which the company calls a “starter kit” to explore one’s … Continue reading “Helix Expands Real-World and Online Footprint with HumanCode Deal”
Student-Entrepreneur from Wisconsin Named 2018 Thiel Fellow
A student-entrepreneur from Oregon, WI, who runs a medical supplies company based in the Twin Cities, where she’s attended college the past two years, will receive $100,000 to take a leave from her studies and continue building the business following her selection as a 2018 Thiel Fellow. The Thiel Fellowship program, named for PayPal co-founder … Continue reading “Student-Entrepreneur from Wisconsin Named 2018 Thiel Fellow”
As Cybersecurity Business Expands, Proficio Offers Risk Scoring
In a bid to differentiate itself from the crowd of cybersecurity companies offering network monitoring services, Carlsbad, CA-based Proficio said it has developed a risk-scoring system that assesses its customers’ network security controls. In addition to highlighting each customer’s vulnerabilities to cyber-attack, Proficio said its new ThreatInsight software dashboard offers recommendations on how a customer … Continue reading “As Cybersecurity Business Expands, Proficio Offers Risk Scoring”
Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable
The practice of encoding data in DNA molecules could be inching closer to graduating from research labs to finding practical commercial use. In the coming years, the explosion of data being generated by computing devices could outstrip the supply of hard drives needed to store it, some industry experts say. Some academic researchers and business … Continue reading “Catalog Hauls In $9M to Make DNA-Based Data Storage Commercially Viable”
Skyhawk Lands $100M from Funding & Celgene Pact for RNA-Targeted Drugs
Almost exactly a year ago, a Boston-area cancer immunotherapy startup led by Bill Haney announced its first partnership, with Celgene. Haney, a tech entrepreneur, filmmaker and investor, is at it again today, announcing a similar deal with the Summit, NJ, drug maker, but this time as the head of his other, newer biotech company, Skyhawk … Continue reading “Skyhawk Lands $100M from Funding & Celgene Pact for RNA-Targeted Drugs”
Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale
Chris Lynch has been at a crossroads. After departing Accomplice in early 2017, where he spent the previous five years investing in early-stage data science and cybersecurity startups in the Boston area, Lynch says he did a lot of soul-searching to decide whether he wanted to remain a full-time investor or return to his roots … Continue reading “Ex-Accomplice Partner Lynch Returns to Corner Office with AtScale”
Bio-Techne to Acquire Liquid Biopsy Firm Exosome Diagnostics for $250M
Exosome Diagnostics, a company that has developed technology to test for disease by analyzing blood and other bodily fluids, has agreed to be acquired by Bio-Techne in a $250 million cash deal. If Waltham, MA-based Exosome hits certain unspecified milestones, the company could receive up to $325 million more, the companies announced Monday after the … Continue reading “Bio-Techne to Acquire Liquid Biopsy Firm Exosome Diagnostics for $250M”
Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun
When Cathy Polinsky became chief technology officer of Stitch Fix in late 2016, she knew one of the San Francisco-based company’s key challenges was continually refining its core software algorithm to make sure customers received the right tailored suggestions in their monthly wardrobe boxes. So, she made it into a game. Style Shuffle is a … Continue reading “Stitch Fix CTO Polinsky Says Its Style Shuffle Game Makes Data Fun”
With AppNexus Acquisition, AT&T Stakes Claim in Adtech, Analytics
[Updated 3:51 p.m. See Below.] AT&T is buying advertising tech company AppNexus in a deal reportedly worth around $1.6 billion. The telecom giant plans to add AppNexus to an advertising and analytics business that it created last year. The purchase shows AT&T’s (NYSE: [[ticker:T]]) interest in better utilizing its vast amounts of customer data so … Continue reading “With AppNexus Acquisition, AT&T Stakes Claim in Adtech, Analytics”
Akero Closes $65M Financing to Back Liver Drug Licensed from Amgen
New biotech startup Akero Therapeutics debuted Monday with $65 million in a Series A round of funding to advance clinical development of a drug for the fatty liver disease nonalcoholic steatohepatitis (NASH). Cambridge, MA-based Akero licensed the drug from Amgen (NASDAQ: [[ticker:AMGN]]), which had tested it in Phase 1 studies. Akero said Monday it will … Continue reading “Akero Closes $65M Financing to Back Liver Drug Licensed from Amgen”
With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer
Cancer immunotherapy combinations continue to chalk up wins against lung cancer. For the first time, an immunotherapy-chemotherapy combination has succeeded in a late-stage study of patients with small cell lung cancer (SCLC), a particularly aggressive form of the disease often linked to smoking. Roche’s South San Francisco, CA-based Genentech division said today that in a … Continue reading “With Roche Data, Cancer Combos Post First Win Vs. Small Cell Lung Cancer”
Costello Raises $2.1M to Accommodate Growing Customer Demand
Costello, the Indianapolis-based software startup, this week announced that it has raised $2.1 million in seed funding. A number of local and out-of-state investors contributed to the round, including Dundee Ventures, Collina Ventures, Silicon Valley’s Social Capital, Copper Mountain Technologies CEO Irena Goloschokin, and ExactTarget co-founder Chris Baggott. Costello’s software brings artificial intelligence to the … Continue reading “Costello Raises $2.1M to Accommodate Growing Customer Demand”
Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More
Lots of news to catch up on in the Boston-area tech sector. This week, we’re tracking an acquisition in healthcare data, the expansion of autonomous vehicle testing in the city, a stealthy cryptocurrency venture fund, and several venture investments. Read on for details. —Shyft Analytics agreed to be acquired by New York-based Medidata (NASDAQ: [[ticker:MDSO]]) … Continue reading “Boston Tech Watch: NuTonomy, Crypto Fund, Shyft, Renoviso & More”
Lockheed Martin Opening Cybersecurity Office for DoD in San Antonio
San Antonio—Lockheed Martin, the largest U.S. government contractor, is announcing today it is moving into a 15,400-square foot cybersecurity facility at Port San Antonio in hopes of landing a large contract with the Department of Defense. The move by Lockheed (NYSE: [[ticker:LMT]]) is part of its effort to get its hands on a contract worth … Continue reading “Lockheed Martin Opening Cybersecurity Office for DoD in San Antonio”
Some of the Best Reads for Casual Friday: Artificial Intelligence
Fridays can be the most productive work day, as you look to shore up everything before the weekend starts. Or, maybe instead, it’s a day filled with long lunches and listless Internet surfing, as you seek out all the interesting articles you missed during the week. Fear not: Xconomy has done the work for you, … Continue reading “Some of the Best Reads for Casual Friday: Artificial Intelligence”
Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More
Biotech financing is a cyclical thing. Two years ago, the IPO window was unlatched but a number of companies ended up withdrawing their stock offerings. Others that pushed their IPOs through couldn’t sell shares at the price they wanted. This year, the IPO window is wide open. A total of 93 IPOs have priced as … Continue reading “Bio Roundup: Duchenne Data, Roche Buys Foundation, IPO Wave & More”
Intel CEO Resigns After Board Learns of His Relationship With Employee
Intel (NASDAQ: [[ticker:INTC]]) announced Thursday that CEO Brian Krzanich has resigned in the wake of the company’s recent discovery that he had been involved in a past consensual relationship with an Intel employee. The relationship violated Intel’s non-fraternization policy—the finding of an ongoing investigation by internal and external counsel, the company said in a written … Continue reading “Intel CEO Resigns After Board Learns of His Relationship With Employee”
Tcare’s Software Aids People Who Live with, and Care for, Loved Ones
Retiring baby boomers are expected to more than double Medicare and Medicaid costs from 2017 to 2020, according to industry data. That may just be the tip of the iceberg: by 2035, Medicare will account for 8 percent of the U.S. gross domestic product, according to projections by the Congressional Budget Office. One major reason … Continue reading “Tcare’s Software Aids People Who Live with, and Care for, Loved Ones”
Latticework Launches Personal Hybrid Cloud for Private Data-Sharing
Were you aghast at revelations that third-party organizations were able to capture millions of Facebook profiles from users who were unaware of the company’s privacy policy terms? If so, a Silicon Valley startup is hoping to entice you with a new option for private data storage of your personal digital life, along with private channels … Continue reading “Latticework Launches Personal Hybrid Cloud for Private Data-Sharing”
Detroit Entrepreneur’s PlayVs is First E-Sports League for High Schools
As a kid in the 1990s, Delane Parnell spent his formative years around Detroit’s 7 Mile and Burgess neighborhood in a home with no Internet. Today, he’s the founder and CEO of a hot Los Angeles-based e-sports startup—and responsible for raising the largest Series A investment round of any African-American tech founder. Parnell is the … Continue reading “Detroit Entrepreneur’s PlayVs is First E-Sports League for High Schools”
Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big
[Updated 6/22/18, 10:06 am. See below.] Matrix Partners has raised $450 million for its 11th U.S. venture capital fund, according to a document filed with securities regulators. That’s the same size as Matrix’s last flagship fund, which it closed in 2013. That’s somewhat unusual in the current venture fundraising environment. Many venture firms have been … Continue reading “Matrix Partners Holds Steady with $450M Fund, as Other VCs Go Big”
Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours
The window for biotech IPOs remains wide open and six more companies have charged through it, raising more than $568 million in the span of 24 hours. The first was Eidos Therapeutics (NASDAQ: [[ticker:EIDX]]), which raised $106 million in its stock market debut. The San Francisco company priced its IPO late Tuesday, selling 6.25 million … Continue reading “Bio IPO Madness: Six Biotech Startups Raise $568M in 24 Hours”
Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves
Bossa Nova, a robotics company geared toward grocers and other sellers of related consumer products, announced today it has raised $29 million in new funding. The round was led by Cota Capital, with previous investors such as Intel Capital, Lucas Venture Group, and WRV Capital and new investors LG Electronics and China Walden Ventures participating. … Continue reading “Retail Robot Maker Bossa Nova Raises $29M to Monitor Shelves”
Same SaaS, New Acquisition Model: Q&A With Dura’s Paul Salisbury
San Antonio—Dura Holdings is trying to put a different spin on the model of acquiring and improving a business that has either underperformed or may have room to grow. San Antonio-based Dura buys software-as-a-service (SaaS) companies with recurring revenue and seeks to cut operating costs or improve simple things like marketing and sales processes, in … Continue reading “Same SaaS, New Acquisition Model: Q&A With Dura’s Paul Salisbury”
Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper
Analog Devices, the 53-year-old semiconductor company, threw a party Tuesday afternoon to celebrate its new technology incubator in Boston, dubbed the Analog Garage—an homage to the innovations that have originated in garages, basements, and other “nondescript quarters” of the world, as the company puts it. But this ain’t no garage or basement. The 25,000-square-foot office … Continue reading “Analog Devices Aims High With Tech “Garage” Atop Boston Skyscraper”
New Amazon-Led Healthcare Venture Taps Surgeon, Author Gawande as CEO
The new, independent, healthcare-focused company Amazon, Berkshire Hathaway, and JPMorgan Chase plan to launch made a big splash when it was first announced in January, but few details have emerged since. On Wednesday, the trio of American business heavyweights revealed a little more. They said Atul Gawande, a surgeon and author who is well known … Continue reading “New Amazon-Led Healthcare Venture Taps Surgeon, Author Gawande as CEO”
New Chapter: Publishing Executive Alston Becomes New CEO at DEC
Dallas—Alyce Alston, a veteran of the digital media and publishing industries, officially took over the reins of the Dallas Entrepreneur Center Wednesday. “I’ve always been an innovator within large organizations and then with startups after that,” she says. “I have a real empathy for startups, for entrepreneurs, people who are creating and doing things that … Continue reading “New Chapter: Publishing Executive Alston Becomes New CEO at DEC”
Goldman Sachs Leads $43M Funding for Website Platform NGINX
NGINX Inc., a Web application delivery platform company built on the open-source Web server NGINX, announced today it raised $43 million in a Series C fundraising to advance its system for helping clients modernize their websites. The funding round, which brings NGINX’s total venture capital haul to $103 million, was led by Goldman Sachs Growth … Continue reading “Goldman Sachs Leads $43M Funding for Website Platform NGINX”
CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion
CrowdStrike, a Silicon Valley cybersecurity company that fends off hackers by patrolling the edge devices connected to a network, announced today it raised $200 million in a financing round that sets the company’s valuation at more than $3 billion. Sunnyvale, CA-based CrowdStrike, as an endpoint protection and response platform, uses next-generation antivirus software, scans for … Continue reading “CrowdStrike Hauls In $200M, Reports Valuation Over $3 Billion”
What’s Hot in Seattle Biotech: Tech, Life Sciences Convergence & More
Like a good cup of coffee, Seattle’s life sciences ecosystem is a balanced blend of complementary parts: research to find the underpinnings of disease, and information technology that helps scientists make sense of the data. That convergence was on display last week at Xconomy’s annual What’s Hot in Seattle Biotech event. Here are a few … Continue reading “What’s Hot in Seattle Biotech: Tech, Life Sciences Convergence & More”
CVS Health Expands Delivery, as Pharmacies Try to Keep Amazon at Bay
CVS Health said Tuesday that it has expanded its prescription-drug delivery service nationwide. Customers of the Rhode Island-based retail pharmacy giant, which operates about 9,800 stores in the U.S., will be able to get their medications, as well as over-the-counter items, delivered to their mailboxes in one to two days, said CVS Pharmacy, the retail … Continue reading “CVS Health Expands Delivery, as Pharmacies Try to Keep Amazon at Bay”
LoftSmart Adds $12.9M for Student Housing Review and Rental Software
LoftSmart, a website that helps college students find off-campus housing, has raised $12.9 million in an equity funding round, according to a securities filing. New York-based LoftSmart lets students search for and review properties typically rented by students, leaving feedback in each apartment building’s listing on amenities, problems, or other details that might help college … Continue reading “LoftSmart Adds $12.9M for Student Housing Review and Rental Software”
In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine
Roche this morning agreed to acquire the part of Foundation Medicine it didn’t already own, another big vote of confidence in tests that analyze a patient’s cancer genes and the drugs that can target them. Roche will pay $137 per share, or $2.4 billion, for the remaining stock of Foundation (NASDAQ: [[ticker:FMI]]), of Cambridge, MA. … Continue reading “In a Genentech Redux, Roche Pays $2.4B for Rest of Foundation Medicine”
Sarepta’s Data Are First in Rush for Duchenne Gene Therapy
It’s far too early to say whether gene therapy can treat Duchenne muscular dystrophy, a deadly genetic disease. But the first clinical data have arrived, with Sarepta Therapeutics today reporting encouraging preliminary results from three patients. Sarepta (NASDAQ: [[ticker:SRPT]]), of Cambridge, MA, is conducting an early-stage study of its experimental treatment known as AAVrh74.MHCK7.micro-Dystrophin. The … Continue reading “Sarepta’s Data Are First in Rush for Duchenne Gene Therapy”
Business Catering Firm ezCater Goes Big With $100M Round
Boston-based ezCater, which runs an online food-ordering service for businesses, said today it has $100 million in new money. The Series D financing round was led by Wellington Management Company, with previous investors including Iconiq Capital and Insight Venture Partners also participating. The new cash brings ezCater’s total venture haul to $170 million. The company … Continue reading “Business Catering Firm ezCater Goes Big With $100M Round”
Foxconn, Arrowhead, NorthStar & More: This Week’s Wisconsin Watchlist
Catch up on news from Wisconsin’s innovation community with these recent headlines: —Foxconn paid nearly $15 million for an office building in downtown Milwaukee that will serve as the company’s North American headquarters, the Milwaukee Journal Sentinel reported. The location chosen by the Taiwanese electronics manufacturing giant does not come as a major surprise; in … Continue reading “Foxconn, Arrowhead, NorthStar & More: This Week’s Wisconsin Watchlist”
Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs
Uptycs is starting to make some noise. Today, the two-year-old cybersecurity startup announced a $10 million Series A funding round to help expand its team and advance its security analytics software. The investment was led by ForgePoint Capital, a cybersecurity-focused venture firm formerly known as Trident Capital CyberSecurity, and Comcast Ventures, the venture arm of … Continue reading “Comcast, ForgePoint Pump $10M Into Security Analytics Startup Uptycs”
Emulate Adds $36M to Expand “Organ Chip” Drug Research Technology
Emulate, a Boston-based startup that has developed small laboratory chips intended to replace the animal tests used in pharmaceutical research, has raised $36 million in financing. The Series C round of funding was led by Founders Fund. Also participating in the financing were new investors ALS Investment Fund, SciFi VC, and Glass Wall Syndicate, as … Continue reading “Emulate Adds $36M to Expand “Organ Chip” Drug Research Technology”
Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic
[Updated, 6/19/18, 4:20 p.m. See below.] Hearing loss affects millions of Americans, but so far, drug companies have not yet brought treatments to the market. Decibel Therapeutics aims to pioneer the discovery and development of therapies addressing multiple forms of hearing loss. The startup has quietly built a pipeline of experimental drugs, and as those … Continue reading “Decibel Hauls in $55M to Bring Multiple Hearing Drugs to the Clinic”
New Conquer Cohort Tackling Homecare Staffing, Snapchat Filters, More
A glance at the thermometer confirms summer is officially here—quite oppressively here if you’re in the Midwest—and that means the start of a handful of annual startup incubation programs in Michigan. The Conquer Accelerator, hosted by Spartan Innovations, just launched its 2018 cohort in East Lansing. The five companies accepted into this year’s program will … Continue reading “New Conquer Cohort Tackling Homecare Staffing, Snapchat Filters, More”
Quest Analytics Buys Healthcare Compliance Software Firm BetterDoctor
BetterDoctor, a San Francisco-based startup that has built a national database with information on physicians, dentists, and other practitioners, has been acquired by a Wisconsin software analytics business, the companies said Monday. Appleton, WI-based Quest Analytics said that following its purchase of BetterDoctor, the combined company will build a “comprehensive platform” to help health plans … Continue reading “Quest Analytics Buys Healthcare Compliance Software Firm BetterDoctor”
Rock River Capital Nabs Another $15M to Invest in Midwest Startups
A young Wisconsin venture capital firm says it has raised more than $15 million for a fund created under a program partially supported by the state of Wisconsin and aimed at increasing the amount of funding available to Badger State startups. Rock River Capital Partners said in a document filed with the SEC on Friday … Continue reading “Rock River Capital Nabs Another $15M to Invest in Midwest Startups”
As Sarepta Preps Data, FDA Lifts Hold on Solid’s Duchenne Gene Therapy
The race to use gene therapy to treat Duchenne muscular dystrophy, a progressive, deadly genetic disease that affects boys, is heating up this week. The FDA just cleared Solid Biosciences to resume clinical testing of a Duchenne gene therapy, a day before Sarepta Therapeutics will report human clinical data from a rival treatment that also … Continue reading “As Sarepta Preps Data, FDA Lifts Hold on Solid’s Duchenne Gene Therapy”
Mapping Software Startup Ushr Lands Installation Deal with Cadillac
Ushr, the Livonia, MI, and Lompoc, CA-based startup making high-definition mapping software for use in semi-autonomous and autonomous vehicles, has earned awards and accolades since it launched last year. The latest award has paved a path to get Ushr’s software into future models of a classic American car brand. Ushr has a big hand in … Continue reading “Mapping Software Startup Ushr Lands Installation Deal with Cadillac”
Built on Quantum Mechanics, Intraband Eyes Missile Defense for Laser
After meeting with North Korean leader Kim Jong-un, President Donald Trump wrote in a tweet that “there is no longer a nuclear threat from North Korea” to the U.S. Other elected leaders disagree. “Saying it doesn’t make it so,” Sen. Chuck Schumer, D-NY, told The New York Times this week. “North Korea still has nuclear weapons.” … Continue reading “Built on Quantum Mechanics, Intraband Eyes Missile Defense for Laser”
Biotech Beware, Your Culture Is Showing
In a recent survey of 220 scientists, 60 percent of the respondents reported having experienced harassment at a conference at some point in their careers. Even more astounding is the fact that 82 percent of those who reported harassment did not report it when it occurred. That’s why it’s easy to say, “How big of … Continue reading “Biotech Beware, Your Culture Is Showing”
CarePredict Set to Buy IP of San Antonio’s WiseWear From Bankruptcy
San Antonio—The intellectual property of WiseWear, the bankrupt company that sold fashionable wearable devices, may be sold to the new employer of WiseWear founder Jerry Wilmink. CarePredict, a Plantation, FL-based business that sells wearable devices and software to assisted living facilities for monitoring residents, bid $110,000 to buy the intellectual property assets of WiseWear, according … Continue reading “CarePredict Set to Buy IP of San Antonio’s WiseWear From Bankruptcy”
Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches
Teva Pharmaceutical’s bid to add a new therapeutic application for its experimental migraine-prevention drug has faltered in a late-stage study. Israel-based Teva (NYSE: [[ticker:TEVA]]) said Friday that it is stopping a Phase 3 clinical trial testing its drug, fremanezumab, for prevention of chronic cluster headaches. According to the company, an analysis found that the study … Continue reading “Teva’s Migraine Drug Fails in Phase 3 for Chronic Cluster Headaches”