The University of Washington is the most innovative public university in the world, according to a ranking from Reuters that came out this week—and rightly added some swagger to the step of leaders on Montlake. As with all such lists, however, the Reuters Top 100 World’s Most Innovative Universities ranking is backward-looking, based on a … Continue reading “5 Keys to Keeping UW Among the World’s Most Innovative Universities”
Category: Seattle
West Coast Bio Roundup: Google/Insel, SeaGen, Avalon, Alector & More
It’s not specific to the West Coast, but anyone who needs to catch up on the week’s events should read the British Medical Journal’s re-analysis of a long-criticized study, dubbed Study 329, of the antidepressant paroxetine (Paxil) in an adolescent population. It took place in the 1990s, run by SmithKline Beecham (now GlaxoSmithKline). Paroxetine was … Continue reading “West Coast Bio Roundup: Google/Insel, SeaGen, Avalon, Alector & More”
Reality Check: Cancer Experts Discuss Hurdles Facing CAR-T Therapy
There’s a lot of excitement these days about a type of cellular immunotherapy known as CAR-T, a method of modifying peoples’ immune cells to fight cancer. But you could also fill a book listing all the problems its makers will have to solve—how to test, manufacture, and even the define the nature of these cancer-killing … Continue reading “Reality Check: Cancer Experts Discuss Hurdles Facing CAR-T Therapy”
Education in the Second Machine Age
We are in the early innings of a Second Machine Age—one relying on fewer people and more technology—yet we’re largely educating students for a bygone era. The (First) Machine Age, which is typically bracketed by the introduction of the automobile in the late 1880s and the invention of the transistor shortly after WWII, led to … Continue reading “Education in the Second Machine Age”
The Risks and Opportunities of Doing Business in Emerging Markets
If you’re a startup or small business based in the U.S., chances are that you’re engaging with other emerging markets in some way or another. Perhaps you’re serving customers in those markets – or you have partners, suppliers, or consultants located there – or perhaps some of your team members are based there, or traveling … Continue reading “The Risks and Opportunities of Doing Business in Emerging Markets”
Obama Nominates Duke Veteran Rob Califf To Lead FDA
President Obama has nominated cardiologist Rob Califf to be the next head of the Food and Drug Administration, replacing the outgoing Margaret “Peggy” Hamburg. The nomination is no surprise. Speculation that Califf could be the next commissioner gained momentum in late January when the FDA named him a top deputy. Two weeks later, Hamburg said … Continue reading “Obama Nominates Duke Veteran Rob Califf To Lead FDA”
INRIX Acquires ParkMe—and Its Reams of Data—for Undisclosed Sum
ParkMe, the Santa Monica, CA-based service that allows drivers to find and reserve parking spaces in busy urban centers, has been acquired by Kirkland, WA-based INRIX. The terms of the deal were not disclosed. Alex Israel, ParkMe’s co-founder, says the entire 25-person ParkMe operation will join INRIX, but the company will maintain its “brand and … Continue reading “INRIX Acquires ParkMe—and Its Reams of Data—for Undisclosed Sum”
American Copycats: Can Biosimilars Catch On And Cut Costs In U.S.?
Americans need to spend less on healthcare. Anyone disagree? No country spends like we do: 17 percent of our gross domestic product the past four years, in fact, according to the World Bank. No other country—rich, poor, big, small, frozen, tropical, whatever—comes close. (OK, except for the tiny Pacific island nation of Tuvalu. Really.) Now … Continue reading “American Copycats: Can Biosimilars Catch On And Cut Costs In U.S.?”
AnswerDash Garners $2,900,000 Seed Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=84ba54f0-4aba-483b-9324-46dc44798406 Date 9/15/2015 Company Name AnswerDash Mailing Address Fluke Hall Box 352141 Seattle, WA 98195 USA Company Description All customers have questions. How quickly they get answers determines whether they become your customers or your competitors’. With AnswerDash, your customers instantly get the answers they need, right where they need them, reducing … Continue reading “AnswerDash Garners $2,900,000 Seed Round”
Pharma Plays The “Value” Card: Drug Spending Then And Now
Dr. John Lechleiter, the CEO of Eli Lilly, recently attempted to debunk five “Big Myths” about Big Pharma. As he wrote, “Only about 10 cents of every U.S. healthcare dollar is spent on retail prescription medicines—which is the same share that was spent on prescriptions in 1960. While the overall use of medicines to treat … Continue reading “Pharma Plays The “Value” Card: Drug Spending Then And Now”
Seattle Roundup: More M&A from DocuSign, Inrix, Microsoft, Wave
The acquisitions by local tech companies continued this week. DocuSign grabbed a division of OpenTrust, Microsoft bought Adallom, Wave Broadband snapped up Layer42, and Inrix acquired ParkMe. Meanwhile, Chef pulled down a big funding round and the Washington Technology Industry Association launched a software developer apprenticeship. Read on for details: —Kirkland, WA-based INRIX has acquired … Continue reading “Seattle Roundup: More M&A from DocuSign, Inrix, Microsoft, Wave”
Airbnb Acquires Vamo for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d4fdb46e-78e1-4570-8568-ae00a0ec1cae Date 9/11/2015 Company Name Vamo Mailing Address Undisclosed Seattle, WA 98107 USA Company Description Vamo is a funded startup based in Seattle. Our goal is to help people plan better vacations. We’re an experienced team with a love for building great products and exploring the world. Website http://www.vamo.com Transaction Type M&A … Continue reading “Airbnb Acquires Vamo for Undisclosed Sum”
Washington Tech Industry Plans Software Apprenticeship Program
Washington state’s tech industry is undertaking another novel effort to grow its local talent pipeline with an apprenticeship program for would-be software developers. The Washington Technology Industry Association (WTIA) says a $3.5 million federal grant will help it create what it calls a first-of-its-kind registered apprenticeship program that aims to train 600 people over the … Continue reading “Washington Tech Industry Plans Software Apprenticeship Program”
CureVac Opens up an mRNA Hub in Moderna’s Cambridge Backyard
There’s a messenger RNA battle brewing in Cambridge, MA. CureVac, a Germany-based mRNA company spun out of the University of Tubigen 15 years ago, said this morning that it’s opening up a U.S. hub in Cambridge. Karen Slobod, a former Novartis Vaccines executive, will head the new outpost, whose focus will be developing mRNA-based prophylactic … Continue reading “CureVac Opens up an mRNA Hub in Moderna’s Cambridge Backyard”
West Coast Biotech Roundup: Tandem, Pathway Genomics, Denali & More
Now that Labor Day is over, the innovation-driven life sciences editors at Xconomy can pass along the really important news—Billboard magazine’s final Songs of the Summer chart. As you may know, Billboard tracks the most popular ear candy from Memorial Day through Labor Day—and the official 2015 “Song of Summer” is…Jamaican singer OMI’s version of … Continue reading “West Coast Biotech Roundup: Tandem, Pathway Genomics, Denali & More”
Chef Orders Up $40M Series E for DevOps Automation Software
As software eats the world, every company must become a software company. You’ve heard that before. But it’s easier said than done. Seattle-based Chef, the IT automation software maker that has just raised a $40 million Series E financing, is growing in large part because of its ability to help companies—including traditional large enterprises—transform themselves … Continue reading “Chef Orders Up $40M Series E for DevOps Automation Software”
How to Succeed in the Second Digital Era
Blockbuster. Borders. The U.S. Postal Service. These once-dominant entities, and many more, have all been victims of disruptive tech. Although it’s too early to sound the death knell for taxis, it’s also too late to say that ridesharing companies like Uber and Lyft are a flash in the pan. The disruptive change they represent is … Continue reading “How to Succeed in the Second Digital Era”
Inclusion in Tech Entrepreneurship: Meritocracy or Myth?
We’ve been hearing a lot about how the high-tech industry has been working to recruit more underrepresented minorities and women into its ranks, without much early success. Less than 2 percent of the employees at Facebook, Google, and Twitter are African-American, according to the companies’ Equal Employment Opportunity reports for 2014, released earlier this year. … Continue reading “Inclusion in Tech Entrepreneurship: Meritocracy or Myth?”
9 Frothy Tech Sectors of 2015: Food Delivery, Fintech, Drones & More
There’s a point at which a technology market or sector feels overhyped and saturated. Sometimes it’s when the first $1 billion valuation is announced—or when venture capital starts flowing so freely that it seems due diligence is an afterthought. And it’s definitely when media start calling tech businesses “Uber for (fill in the blank).” In … Continue reading “9 Frothy Tech Sectors of 2015: Food Delivery, Fintech, Drones & More”
VRstudios Lands $1,300,000 New Financing
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=48339bf1-6317-46c9-ab82-c33823bf56a5 Date 9/8/2015 Company Name VRstudios Mailing Address 100 W. Harrison Seattle, WA 98119 USA Company Description VRstudios provides a platform for growth and development for our client’s Virtual Reality programs. Every step taken and investment made allows our clients to constantly move forward without having to retrench or redirect their efforts. … Continue reading “VRstudios Lands $1,300,000 New Financing”
Seattle Roundup: End of Summer M&A Flurry
Northwest tech deal-makers were busy this week, announcing several significant mergers and acquisitions before the unofficial end of summer. Amazon Web Services is buying Portland, OR-based Elemental Technologies. Microsoft is scooping up people analytics company VoloMetrix. And Zillow is spinning off Market Leader at a significant discount. Read on for more details: —Elemental Technologies’ pending … Continue reading “Seattle Roundup: End of Summer M&A Flurry”
Amazon.com Acquires Elemental Technologies for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=63c66fbc-50ad-45b3-8408-043a24d730ed Date 9/4/2015 Company Name Elemental Technologies Mailing Address 225 SW Broadway Portland, OR 97205 USA Company Description Elemental Technologies, headquartered in Portland, Oregon, is the leading provider of massively parallel processing (MPP) solutions, initially targeting video applications. Website http://www.elementaltechnologies.com Transaction Type M&A Transaction Amount Undisclosed Transaction Round Proceeds Purposes M&A Terms … Continue reading “Amazon.com Acquires Elemental Technologies for Undisclosed Sum”
Microsoft Acquires VoloMetrix for Undisclosed Sum
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=e0640a89-e2d0-4cee-aee3-0f5f45e678f0 Date 9/4/2015 Company Name VoloMetrix Mailing Address 2101 Fourth Ave Seattle, WA 98121 USA Company Description VoloMetrix is an enterprise analytics start-up in Seattle focused on providing tools to improve organizational effectiveness and drive knowledge worker productivity in the enterprise. We are passionate about empowering business leaders to make better, more … Continue reading “Microsoft Acquires VoloMetrix for Undisclosed Sum”
GoToTags Garners $300,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=3511818b-81ff-4d5d-9522-651767ba0b13 Date 9/4/2015 Company Name GoToTags Mailing Address 3302 Fuhrman Ave E. Seattle, WA 98102 USA Company Description GoToTags is a Seattle, WA based company that develops software and hardware solutions to service companies deploying Internet of Things (IoT) projects. Website http://www.gototags.com Transaction Type Venture Equity Transaction Amount $300,000 Transaction Round Undisclosed … Continue reading “GoToTags Garners $300,000 New Financing Round”
AWS Buys Video Software Maker Elemental Technologies for Reported $500M
Amazon Web Services (AWS) is bolstering its already substantial cloud-based video offerings with the acquisition of Portland, OR-based Elemental Technologies. Elemental makes software to enable multi-screen delivery of video content over the Internet—things like video encoding, decoding, and transcoding. It has been working with Amazon subsidiary AWS for four years to serve shared customers in … Continue reading “AWS Buys Video Software Maker Elemental Technologies for Reported $500M”
West Coast Biotech Roundup: Amgen, Grizzlies, Topol, Faraday & More
As biotech ended its worst market month since the recession, it was fitting that one of the week’s best stories was about bears. Grizzlies, to be precise. Grizzlies are oh-so-Western, so of course we were intrigued, and even better, the story involves a West Coast biotech company. The Wall Street Journal broke news this week … Continue reading “West Coast Biotech Roundup: Amgen, Grizzlies, Topol, Faraday & More”
With New CEO, Seattle’s Faraday Pharma Aims to Exploit Ikaria Roots
[Updated 9/3/15, 11:30 am. See below.] Tiny Faraday Pharmaceuticals of Seattle launched last year to try what its predecessor Ikaria couldn’t do: Turn the cutting-edge research of founder Mark Roth, a MacArthur Foundation “genius” award winner, into a medical product. Now Faraday, which emerged from stealth and announced a round of funding last year but … Continue reading “With New CEO, Seattle’s Faraday Pharma Aims to Exploit Ikaria Roots”
Kona Medical Obtains $10,000,300 New Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d9cbaf75-99d4-4b82-944d-d45493e9994b Date 9/3/2015 Company Name Kona Medical Mailing Address 2495 140th Avenue N.E. Bellevue, WA 98005 USA Company Description Kona Medical, Inc. is a privately held company developing an innovative and non-invasive therapy for treatment of hypertension (high blood pressure). Website http://www.konamedical.com Transaction Type Debt Transaction Amount $10,000,300 Transaction Round Undisclosed Proceeds … Continue reading “Kona Medical Obtains $10,000,300 New Funding”
Microsoft, Ballmers Enable More STEM Students, But Shortages Remain
Aspiring computer scientists, engineers, and health care professionals of modest means in Washington state have a better shot at a college education thanks to $21 million donated to a state scholarship fund by Microsoft and its former CEO, Steve Ballmer, matched dollar-for-dollar by the state. But even as a computer science education—a sure path to … Continue reading “Microsoft, Ballmers Enable More STEM Students, But Shortages Remain”
AREA360 Lands $3.5M to Bring Location-Based Apps to Museums, Airports
A Seattle company, by way of New Zealand, has raised $3.5 million to advance technology that helps managers of places like the Smithsonian museum and Sea-Tac Airport create location-based content and services for visitors. Madrona Venture Group is leading the Series A round for AREA360, whose product, STQRY, is designed for large, high-traffic locales that … Continue reading “AREA360 Lands $3.5M to Bring Location-Based Apps to Museums, Airports”
At Summer’s End, Can Crossover Winds Stay At Biotech’s Back?
For certain parts of the population, “summer” is a verb, and in the U.S., one does it until Labor Day. One more week, then, before sunburned financial types return to their desks and biotech IPO hopefuls hit the road to plead their cases. Whether August’s market volatility continues its stomach-churning ways or recedes in September’s … Continue reading “At Summer’s End, Can Crossover Winds Stay At Biotech’s Back?”
Mobcrush Secures $11,000,000 Series A Funding
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=1c5b9a7a-e897-462d-8cad-7905b689d846 Date 9/1/2015 Company Name Mobcrush Mailing Address Undisclosed Los Angeles, CA 98033 USA Company Description Mobcrush is a mobile video streaming company that enables mobile users to broadcast, watch and chat about games played and streamed in real-time. Website http://www.mobcrush.com Transaction Type Venture Equity Transaction Amount $11,000,000 Transaction Round Series A … Continue reading “Mobcrush Secures $11,000,000 Series A Funding”
Remitly Garners $12,000,000 New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=ba2dc3eb-2483-40b5-9617-85381197cfa9 Date 9/1/2015 Company Name Remitly Mailing Address 1601 2nd Ave. Seattle, WA 98101 USA Company Description Remitly has changed the way to send money. We understand the pain of sending money abroad. We make things easier and faster, and work smarter so you can send more and pay less. Website http://www.remitly.com … Continue reading “Remitly Garners $12,000,000 New Funding Round”
Unikrn Garners New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=36742cce-90d2-4a81-a712-d8056cd1069f Date 9/1/2015 Company Name Unikrn Mailing Address 500 Yale Avenue North Seattle, WA 98109 USA Company Description Founded by Rahul Sood and Karl Flores, Unikrn is an eSports betting website. We provide eSports fans and newcomers alike a safe and legal place to gather, game, and bet on eSports. Website http://www.unikrn.com … Continue reading “Unikrn Garners New Round”
Cozy Receives $3,400,000 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=cec7ba54-acf7-403a-87f6-db5952480eb4 Date 9/1/2015 Company Name Cozy Mailing Address 524 E. Burnside St. 6th Floor Portland, OR 97214 USA Company Description Cozy is the first complete modern service for independent landlords and renters. Renting has always been fragmented, unsecure, and unnecessarily complex – even though it affects nearly everyone at some point in … Continue reading “Cozy Receives $3,400,000 New Financing Round”
5 Questions to Ask Before Investing in People or Technology
Congratulations. Your startup made it through its first challenging years, and you’re seeing positive returns. But, there’s always room to grow. Is it time to hire more salespeople, or should you invest in customer relationship management (CRM), productivity software, or another technology that can improve your business? The choice between putting money into technology or … Continue reading “5 Questions to Ask Before Investing in People or Technology”
Bristol-Myers Makes $150M Bet on Promedior, Fibrosis Drug
New drugs for fibrosis, an internal, often deadly type of scarring, have become the centerpiece of a number of biotech deals over the past few years. The latest just crossed the wires this morning, as Bristol-Myers Squibb has just nabbed an option to buy Promedior, of Lexington, MA. Bristol-Myers (NYSE: [[ticker:BMY]]) is paying $150 million … Continue reading “Bristol-Myers Makes $150M Bet on Promedior, Fibrosis Drug”
Women, Get Off the Sidelines and Invest
In my travels across the country, I meet successful women with the means and motivation to make a difference in our communities—and in our world. We don’t think twice about writing a check to a worthy foundation, buying a table at a charity gala, or volunteering on a committee. We know the “rubber chicken” circuit … Continue reading “Women, Get Off the Sidelines and Invest”
Our Plan for Reinventing Alzheimer’s Disease R&D at UC San Diego
When the late Dr. Leon Thal, renowned neurologist and chairman of the Neurosciences Department at the UC San Diego School of Medicine, first imagined a research network able to conduct clinical trials of new therapies for Alzheimer’s disease, it was an idea ahead of its time. The degenerative condition was poorly understood, with no existing … Continue reading “Our Plan for Reinventing Alzheimer’s Disease R&D at UC San Diego”
West Coast Biotech Roundup: BioMarin, Tocagen, Medivation, Twelve
For the ancient Greeks, the rising of the dog star Sirius brought on the sweltering heat of summer, and August came to be associated with languid days of heat, drought, and fire. That might sound like the weather that has descended on the West Coast. But in the ancient texts, the dog days of summer … Continue reading “West Coast Biotech Roundup: BioMarin, Tocagen, Medivation, Twelve”
Modumetal Garners New Funding Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=d29c6d71-401e-47f1-9c40-f4c08175ca38 Date 8/26/2015 Company Name Modumetal Mailing Address 1443 N. Northlake Way Seattle, WA 98103 USA Company Description The mission of Modumetal is to revolutionize the design and manufacture of automobiles, aircraft, armor and building materials in a way that has never before been realized since the deployment of mass production concepts. … Continue reading “Modumetal Garners New Funding Round”
Modumetal Raises Cash to Make Durable Parts for Oil and Gas Sector
Modumetal, the Seattle company making corrosion-resistant metal alloys and coatings with applications in industries including oil and gas, has received $33.5 million in new capital from investors including Chevron Technology Ventures, BP Ventures, and ConocoPhillips. The funding, described as an expansion round in a news release Tuesday and detailed in an SEC filing, was led … Continue reading “Modumetal Raises Cash to Make Durable Parts for Oil and Gas Sector”
Spare5 Raises $10M to Gather More Human Insights for the Internet
Seattle startup Spare5 is pairing human and machine intelligence to give businesses insight into things like what photo will best sell a vacation rental property. The company’s model for tapping people’s spare brain power to complete valuable micro-tasks is finding a host of uses among data-driven commerce and content companies. Founded less than a year … Continue reading “Spare5 Raises $10M to Gather More Human Insights for the Internet”
Private Code Academies Stake Their Claims in San Diego
Private “coding academies”—vocational schools that provide accelerated training for software development jobs—have begun to sprout in San Diego. The newest arrival, Origin Code Academy, is recruiting students for its first class on Sept. 21, and says it is the first coding education provider in San Diego “to guarantee its students a software development job within … Continue reading “Private Code Academies Stake Their Claims in San Diego”
DreamBox Learning Obtains $6,000,000 New Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f108dbdc-d5f1-4e5c-bab5-586c5f168771 Date 8/25/2015 Company Name DreamBox Learning Mailing Address 305 108th Ave NE 2nd Floor Bellevue, WA 98004 USA Company Description DreamBox Learning’s team brings an unprecedented combination of experiences. We’re entrepreneurs, educators, creative designers, and technologists. Website http://www.dreambox.com Transaction Type Venture Equity Transaction Amount $6,000,000 Transaction Round Undisclosed Proceeds Purposes Proceeds … Continue reading “DreamBox Learning Obtains $6,000,000 New Round”
Spare5 Lands $10,000,000 Series A Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=c32fd6f3-eaff-4799-85e1-f059959c3fb6 Date 8/25/2015 Company Name Spare5 Mailing Address 1008 Western Ave. Seattle, WA 98104 USA Company Description Spare5 is designed to be the default do work now app for every smartphone owner on the planet. A tremendous opportunity exists to better people’s lives by making time they spend on mobile devices more … Continue reading “Spare5 Lands $10,000,000 Series A Round”
DreamBox Learning Lands $10,000,000 Series B Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=f108dbdc-d5f1-4e5c-bab5-586c5f168771 Date 8/25/2015 Company Name DreamBox Learning Mailing Address 305 108th Ave NE 2nd Floor Bellevue, WA 98004 USA Company Description DreamBox Learning’s team brings an unprecedented combination of experiences. We’re entrepreneurs, educators, creative designers, and technologists. Website http://www.dreambox.com Transaction Type Venture Equity Transaction Amount $10,000,000 Transaction Round Series B Proceeds Purposes … Continue reading “DreamBox Learning Lands $10,000,000 Series B Financing Round”
Versant Walks Biotech “High Line” With a New Manhattan Incubator
Versant Ventures is about to launch its latest biotech incubator. And it’s picked the emerging New York life sciences scene as its home. This morning, Versant, the San Francisco Bay Area VC firm, is announcing the formation of what’s being called “Highline Therapeutics.” Named after the elevated walkway and park that runs along the lower … Continue reading “Versant Walks Biotech “High Line” With a New Manhattan Incubator”
Budding UW Data Scientists Use Their Powers for Social Good
Earn a degree in the field of data science these days and your ticket is punched: Google, Amazon, Facebook, leading-edge academic research, a well-funded startup—they’re all clamoring for people proficient in the tools and techniques needed to sift through today’s endless streams of digital data in search of something valuable. Social service organizations and local … Continue reading “Budding UW Data Scientists Use Their Powers for Social Good”
Cartogram Lands $326,348 New Financing Round
Feed Type Link http://www.venturedeal.com/Search/SearchResultTransactionDetail.aspx?TransactionId=85fa04f6-075e-40aa-808e-fe135ae9e175 Date 8/24/2015 Company Name Cartogram Mailing Address 204 10th Ave. Kirkland, WA 98033 USA Company Description Cartogram provides heat maps, aggregate customer data and engaging reports to increase your engagement. Enable users to find products in the store, sessions in a conference or just about anything indoors with the Cartogram App. … Continue reading “Cartogram Lands $326,348 New Financing Round”