Enterprise IT might not be the sexiest of technology areas, but it sure can attract truckloads of money. The latest deal is a $50 million investment in Boston-based Turbonomic, a nine-year-old virtualization and cloud management software maker formerly known as VMTurbo. General Atlantic led the funding round and was joined by previous Turbonomic investors Bain … Continue reading “Turbonomic Grabs $50M More Amid Flurry of New England IT Deals”
Texas Roundup: Azaya, StemBioSys, Next Coast, Querium, Favor, MacroFab
Let’s get caught up with the latest innovation news from Xconomy Texas. —First, we have “Five Questions For …” Gabriella Draney Zielke, co-founder and CEO of the Tech Wildcatters accelerator in Dallas. In this installment, we talk about her “accidental” journey to entrepreneurship, lessons learned about managing people, and her interest in astrophysics and space. … Continue reading “Texas Roundup: Azaya, StemBioSys, Next Coast, Querium, Favor, MacroFab”
New Lexumo CEO on IoT, Startups & Government’s Role in Cybersecurity
Dan McCall thinks the timing is right for Lexumo, a Boston-area startup aiming to help secure the world’s rapidly growing collection of Internet-connected devices and embedded systems. And Lexumo’s leaders think McCall is the right person to take the two-year-old company to the next level. Last week, Lexumo announced it hired McCall as CEO. He … Continue reading “New Lexumo CEO on IoT, Startups & Government’s Role in Cybersecurity”
Elucent, With $7.2M in Tow, Advances Breast Cancer Treatment Device
Elucent Medical, a medical device startup based in Eden Prairie, MN, but with roots and employees in Wisconsin, raised $7.2 million from investors in a Series A funding round that closed last year, says co-founder and CEO Laura King. The investment flew under the radar, and Elucent hasn’t discussed it publicly until now. Xconomy spoke … Continue reading “Elucent, With $7.2M in Tow, Advances Breast Cancer Treatment Device”
EOW Reading List: Gender in AI, Manufacturing’s Future & More
Leading off our End of Work Reading List this week is a series of explorations of gender and sexism in the creation of artificial intelligence and automation technologies. Why are so many robots and virtual assistants designed with female forms and voices? Will women suffer more economic dislocation from the coming wave of automation than … Continue reading “EOW Reading List: Gender in AI, Manufacturing’s Future & More”
Roundup: 2016 VC Activity, Expansions, Hiring News, Fun Reads & More
Here’s a look at innovation news from around Indiana: —According to an analysis by TechPoint, a nonprofit organization promoting and accelerating the growth of Indiana’s tech industry, the latest PriceWaterhouseCoopers MoneyTree report indicates the state had a “banner year” in 2016 in terms of venture capital funding and acquisitions. The report found that 23 deals were … Continue reading “Roundup: 2016 VC Activity, Expansions, Hiring News, Fun Reads & More”
Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance
Perhaps you’ve heard about the inauguration of one Donald J. Trump. Xconomy has been asking prominent members of the national innovation community for their thoughts on the incoming administration and its potential impact on their companies and industries. Here are responses from four business leaders in different cities across Xconomy’s network. Alex Lash, our national … Continue reading “Business Leaders Talk Trump’s Impact on Visas, Drug Pricing, Insurance”
“Five Questions For … ” Tech Wildcatters CEO Gabriella Draney Zielke
Dallas—A lot of founders I meet say they always knew they wanted to start their own companies. Tech Wildcatters co-founder Gabriella Draney Zielke says her journey into entrepreneurship was an accidental one. Working at a fractional jet company at age 19, she tells me, she joined an aviation software startup company with her then-husband. A … Continue reading ““Five Questions For … ” Tech Wildcatters CEO Gabriella Draney Zielke”
Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More
The new president of the United States, Donald Trump, is being sworn in today amid a storm of questions about the plans that he, and those who might work for him, have in store for American healthcare and medicine. Trump’s nominee to run the $1 trillion Health and Human Services Department, Tom Price, answered—or didn’t … Continue reading “Bio Roundup: Tom Price, Patient Conflicts, Orphan Games & More”
StockTwits Buys Mobile App SparkFin to Extend Fintech Services
StockTwits, the Twitter-like social media platform for sharing stock market tips and ideas, has acquired San Diego’s SparkFin, a fintech mobile app for discovering and sharing stocks and other investment ideas. Financial terms of the deal were not disclosed. The common denominator in both companies is Howard Lindzon, the Wall Street trader and hedge fund … Continue reading “StockTwits Buys Mobile App SparkFin to Extend Fintech Services”
Cytori Buys San Antonio-based Azaya’s Drug Delivery Tech for Stock
San Antonio — Cytori Therapeutics, a San Diego, CA-based developer of drugs that use patients’ own fat tissues to make cellular therapies, is buying the assets of San Antonio-based Azaya Therapeutics in a mostly stock deal, with potential future payments that are dependent on the progress of two drug candidates Cytori is acquiring. Azaya shareholders … Continue reading “Cytori Buys San Antonio-based Azaya’s Drug Delivery Tech for Stock”
Xconomy Forum: Robo Madness 2017— A.I. Gets Real
Robotics and artificial intelligence have gone mainstream, with major consequences for business and society. From warehouse automation and self-driving vehicles to smart home assistants and drones, robotic technologies are poised to transform daily life and work. But they’re also raising questions about A.I. ethics, the future of jobs, and the competitive landscape in technology. How … Continue reading “Xconomy Forum: Robo Madness 2017— A.I. Gets Real”
Kellogg’s VC Fund Bets on Superfood Trend with Kuli Kuli Investment
My sister has worked as a food scientist, inventing new crackers and cookies, for a number of different corporations over her 15-year career. Because of that, I’ve been involved in many exceptionally nerdy discussions about global food trends and how what we eat gets made, and I’ve picked up a few fun tidbits along the way. … Continue reading “Kellogg’s VC Fund Bets on Superfood Trend with Kuli Kuli Investment”
StemBioSys Taps VWR to Distribute Stem Cell Products in U.S., Canada
San Antonio — StemBioSys has signed a deal to have its stem cell production products distributed in the U.S. and Canada by VWR (NASDAQ: [[ticker:VWR]]), a distributor of lab products to the life sciences industry, according to CEO Bob Hutchens. StemBioSys had a busy 2016, signing similar deals to have companies in Japan, Sweden, and South … Continue reading “StemBioSys Taps VWR to Distribute Stem Cell Products in U.S., Canada”
Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup
When you need cash to fuel your startup, it’s tempting to “think local.” The people with the strongest ties to you—relatives, friends, college roommates, running buddies, and co-workers—are the ones who believe in you. You’d probably turn first to them for financial support. Capital fronted by these folks might be the quickest, easiest cash you’ll … Continue reading “Want to Ruin Your Relationships? Ask Family and Friends to Fund Your Startup”
Google Buys Crashlytics, Trusteer Vets Return & More Boston Tech News
Boston-area tech companies are making moves at a furious pace in the early goings of 2017. This week, we’re catching up on a trio of acquisitions (including a deal involving Google and Twitter), a spate of startup funding news, and new leadership at a Draper Laboratory spinout company. Read on for the details. Changing Hands —Four … Continue reading “Google Buys Crashlytics, Trusteer Vets Return & More Boston Tech News”
Startup Aims AI System for Safety, with Potential for Self-Driving
Over the past 25 years or so, San Diego has become a hub for innovation in telematics, and in providing technologies and services that enable long-haul trucking companies and other fleet operators to monitor the location and operation of their vehicles. Qualcomm (NASDAQ: [[ticker:QCOM]]) pioneered the use of satellite-based messaging and vehicle tracking technology in … Continue reading “Startup Aims AI System for Safety, with Potential for Self-Driving”
Gener8tor To Launch ‘Hackathon And Accelerator Hybrid’ For Startups
The Wisconsin-based startup accelerator Gener8tor says it’s working to create a new, three-week program for individuals and teams with ideas for new products and companies. Gener8tor would run the new program, called gALPHA, alongside its core 12-week accelerator and gBETA, a shorter, no-strings-attached accelerator it introduced in 2015. The organization has held its core program … Continue reading “Gener8tor To Launch ‘Hackathon And Accelerator Hybrid’ For Startups”
MIT Sloan Healthcare and BioInnovations Conference 2017
From the event organizer: “This year’s theme is Emerging Trends in Healthcare: Personalized & Digital Health and will feature an exciting line up of industry experts, including keynote speaker Larry Renfro, CEO of Optum and Vice Chairman of UnitedHealth Group! The digitization of healthcare is evolving rapidly as consumers are taking greater control of their … Continue reading “MIT Sloan Healthcare and BioInnovations Conference 2017”
HxRefactored 2017
“Health Experience Refactored” is in its seventh year. Here’s more from the event organizers, Health 2.0 and Mad*Pow: “A revolutionary conference, gathering more than 600 cross-disciplinary thinkers and practitioners in one space. Through an inspired mix of thought-provoking talks, workshops, and discussions, HxRefactored applies design, science, evidence, and theory to re-imagine the entire health journey, … Continue reading “HxRefactored 2017”
Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings
[Note: This report was co-authored by deputy biotech editor Ben Fidler.] Tom Price, the man who could oversee an overhaul of the U.S. healthcare system, answered often pointed questions this morning from U.S. senators about his views, his plans for Obamacare, and personal financial transactions. Price, an orthopedic surgeon by training, is President-elect Donald Trump’s … Continue reading “Dems Grill HHS Nominee Price About Trump Comments, Stock Holdings”
Zimmer Biomet’s Robert Delp Promoted to President, Americas
Medical device company Zimmer Biomet (NYSE: [[ticker:ZBH]]) has named Robert Delp to the position of president, Americas, succeeding Stuart Kleopfer, who is retiring. Delp had previously served as the Warsaw, IN-based company’s vice president of U.S. sales. Delp starts his new role at Zimmer Biomet on Jan. 23, but Kleopfer will remain with the company … Continue reading “Zimmer Biomet’s Robert Delp Promoted to President, Americas”
Next Coast Ventures Latest Addition to Austin’s Investment Ecosystem
Austin—Mike Smerklo, co-founder of Next Coast Ventures in Austin, says his venture firm brings a key ingredient to investing: entrepreneurial experience. “We just believe that relevant experience is more important than anecdotal evidence,” he says of himself and co-founder Tom Ball, who have led companies such as ServiceSource, Nucleus Growth, Openfield, and eCoupons, which was … Continue reading “Next Coast Ventures Latest Addition to Austin’s Investment Ecosystem”
HPE Scoops Up MA “Unicorn” SimpliVity for $650M, Ending IPO Talk
SimpliVity, a Massachusetts “unicorn” tech company with aspirations to go public, has opted instead to sell itself to Hewlett Packard Enterprise (HPE) for $650 million in cash. The purchase price is about 2.4 times the amount of venture capital—$276 million—that eight-year-old SimpliVity had raised from Waypoint Capital, Accel, CRV, DFJ Growth, Kleiner Perkins Caufield & … Continue reading “HPE Scoops Up MA “Unicorn” SimpliVity for $650M, Ending IPO Talk”
Jungle Disk Gets Additional Funding A Year After Rackspace Spinout
Jungle Disk, a data backup company that spun out of Rackspace about a year ago, has raised more funding to help the company market itself and add more customers. Jungle Disk isn’t disclosing how much it raised or whom it’s from. The money comes on top of the $11 million in venture funding the company … Continue reading “Jungle Disk Gets Additional Funding A Year After Rackspace Spinout”
With Another Migraine Drug Bet, Lilly Snaps Up CoLucid For $960M
Eli Lilly may have dealt a migraine drug called lasmiditan to CoLucid Pharmaceuticals 12 years ago, but the Indianapolis giant has clearly kept an eye on it, and now wants more than just some royalties if the treatment succeeds in clinical testing this year. Lilly (NYSE: [[ticker:LLY]]) will acquire Cambridge, MA-based CoLucid (NASDAQ: [[ticker:CLCD]]) in an … Continue reading “With Another Migraine Drug Bet, Lilly Snaps Up CoLucid For $960M”
Merrimack Names Sanofi/Genzyme Exec, Peters, New CEO
Merrimack Pharmaceuticals (NASDAQ: [[ticker:MACK]]) has named Richard Peters its new president and CEO, stepping in for chairman Gary Crocker, who had manned the seat while the Cambridge, MA, company restructured. Peters is currently the senior vice president and head of Sanofi/Genzyme’s rare disease business, but has served in some oncology roles—Merrimack’s focus— at Sanofi/Genzyme as … Continue reading “Merrimack Names Sanofi/Genzyme Exec, Peters, New CEO”
Salsify Grabs $30M to Go Big in Product Content for Digital Retail
Salsify’s founders know what it takes to build a big, successful software company. They previously served in senior roles at Endeca, the enterprise search and e-commerce technology firm that became a pillar company in the Boston tech scene in the 2000s and was acquired by Oracle for over $1 billion in 2011. Now, they’re attempting … Continue reading “Salsify Grabs $30M to Go Big in Product Content for Digital Retail”
Hunting For Pharma Deals, Ovid Bags Epilepsy Drug from Takeda
Big pharmaceutical companies are always on the hunt for promising drugs from smaller biotechs. But the reverse is true, too, and that can lead to creative deals such as the arrangement between New York startup Ovid Therapeutics and Japanese pharma giant Takeda announced this morning. Ovid, formed in 2015 by ex-Teva Pharmaceutical and Bristol-Myers Squibb … Continue reading “Hunting For Pharma Deals, Ovid Bags Epilepsy Drug from Takeda”
Under New Ownership, Alfalight Remains Laser-Focused
When an unfamiliar vehicle approaches a military checkpoint, soldiers posted at the station often have little time to determine whether the person behind the wheel is a friend or foe. One organization that had been working to help keep troops safe in such scenarios—as well as protect any approaching allies or civilians whom they may … Continue reading “Under New Ownership, Alfalight Remains Laser-Focused”
Epic, VC Totals, Shine, & More: This Week’s Wisconsin Watchlist
Keep up with the latest news from Wisconsin’s innovation community with these recent headlines: —The United States Supreme Court will hear a case involving Verona-based Epic Systems and whether organizations can make it mandatory for employees to sign arbitration agreements that keep them from pursuing group claims in court, the Associated Press reported. Groups of … Continue reading “Epic, VC Totals, Shine, & More: This Week’s Wisconsin Watchlist”
Seeking Profitability, Favor Reverses Expansion to Focus on Texas
Austin—Favor, the startup with a mobile app that offers to deliver anything, is closing all of its operations outside of Texas, including in cities such as Boston and Denver. The move to work only in Texas, where Austin, TX-based Favor offers its app-based delivery service in 15 cities, is an attempt to push the company … Continue reading “Seeking Profitability, Favor Reverses Expansion to Focus on Texas”
Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug
Biogen is paying Danish firm Forward Pharma $1.25 billion to settle a patent infringement lawsuit filed over the company’s multiple sclerosis pill dimethyl fumarate (Tecfidera). The settlement announced Tuesday with Forward (NASDAQ: [[ticker:FWP]]) could also put Cambridge, MA-based Biogen (NASDAQ: [[ticker:BIIB]]) on the hook for future royalties on sales of dimethyl fumarate. But the deal … Continue reading “Biogen to Pay $1.25B to Settle Forward Pharma Patent Suit on MS Drug”
Texas Roundup: EnergyFunders, Neal Murthy, Xenex, Xeris, LiveOak
Let’s catch up with the latest innovation news from Texas. —Initially set up as a crowdfunding-type platform for small to medium oil and gas operators, EnergyFunders has now expanded its services beyond providing cash. The site, which launched in 2015, also connects operators to hardware and specialized talent they might need to fully realize their … Continue reading “Texas Roundup: EnergyFunders, Neal Murthy, Xenex, Xeris, LiveOak”
Neurala, With More Cash, Advances A.I. for Drones, Self-Driving Cars
Artificial intelligence software firm Neurala cut its teeth developing technology for government entities, including working on advanced navigation software for NASA’s planetary exploration robots. Now, as A.I. technologies move further into our daily lives, 11-year-old Neurala says it is starting to pick up momentum selling its technology to businesses that are working in drones, self-driving … Continue reading “Neurala, With More Cash, Advances A.I. for Drones, Self-Driving Cars”
Video Trends Point to Changing Ways Companies Reach Consumers
The top emerging trends that will affect our business in 2017 are a mixture of how consumers digest information online, video trends, and the continued growth of live video. The way people digest information online has shifted over time from being text based to photo based to now being very video based. Facebook forecasts that … Continue reading “Video Trends Point to Changing Ways Companies Reach Consumers”
Seattle Week in Review: 100k to AMZN, MSFT’s Olympia Agenda, VC Stats
This was a busy week. Let’s get right to our review featuring a Microsoft acquisition in “machine literacy”; Amazon’s plans to hire 100,000 full-time U.S. workers by mid-2018; a green light for the UW’s new computer science building; transparency from Microsoft on its agenda for the state legislative session; 2016 venture capital statistics, including a … Continue reading “Seattle Week in Review: 100k to AMZN, MSFT’s Olympia Agenda, VC Stats”
In AI Race, Microsoft Snaps Up Machine Literacy Startup Maluuba
The Montreal-based startup Microsoft is acquiring aims to teach machines to read so they can get smarter on their own. The acquisition of Maluuba, a five-year-old startup, adds a trove of deep learning researchers to Microsoft’s already world-class artificial intelligence research group, and gives the company a stronger presence in Montreal, a significant hub of … Continue reading “In AI Race, Microsoft Snaps Up Machine Literacy Startup Maluuba”
Crowdfunding Site EnergyFunders Expands to Offer More Than Just Money
Houston—EnergyFunders started out as a website to connect smaller oil and gas operators to interested investors. Turns out, the need wasn’t only in the matchmaking but in playing therapist throughout the relationship of a drilling project. “The project is a living thing,” says Philip Racusin, EnergyFunders co-founder. “It’s not a one-and-done transaction. We’ve developed an … Continue reading “Crowdfunding Site EnergyFunders Expands to Offer More Than Just Money”
Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More
[Corrected, 1/14/16, see below] This past week, the biopharma industry made its annual January pilgrimage to San Francisco for the J.P. Morgan Healthcare Conference. 2016 was a whirlwind year in biotech, and the biopharma gods rewarded attendees with a multi-day monsoon to slog through to get from one meeting to the next. Earlier today, Alex … Continue reading “Biotech Roundup: JPM Deals, Gender Diversity, PCSK9 Battle & More”
Five Questions For … Houston Entrepreneur and Investor Neal Murthy
Houston—Don’t call Neal Murthy an innovator. Sure, he’s founded and sold companies in behavioral simulation software, energy consulting, and social ventures, and he is an avid investor and mentor to entrepreneurs. His interests range from biotech to artificial intelligence to the social impacts of playing games. “I love to get my hands on something new … Continue reading “Five Questions For … Houston Entrepreneur and Investor Neal Murthy”
Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay
[Editor’s note: Ben Fidler contributed to this report] The week of frenetic data sharing, deal talking, and party hopping of the J.P. Morgan Healthcare Conference—and the events that have mushroomed around it—took a punch to the gut just as most attendees were wrapping up and checking their outbound flight status. The incoming party-pooper-in-chief, Donald Trump, … Continue reading “Notes From The JPM ’17 Vortex: Trump, Rainstorms & The Price You Pay”
Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving
The holiday period is a great time for reflection and then behavior modification – often referred to as resolutions. While a bit artificial to the logical engineer, this opportunity can be helpful. This year, my favorite insight came from a former student and employee, Elliot Cohen, co-founder of PillPack. While thinking about the major aspirational … Continue reading “Startup Resolution 2017: Embrace Believers, Bounce Skeptics & Keep Moving”
EOW Reading List: Automation, Onshoring, Heart, and AI Texas Hold’em
One of Xconomy’s areas of focus in 2017 is the increasing impact of technologies such as artificial intelligence, robotics, and automation on human labor. Technology has always made some occupations obsolete, while changing others, and creating new ones. Today, and looking forward, these changes seem to be accelerating. This is the exponential economy from which … Continue reading “EOW Reading List: Automation, Onshoring, Heart, and AI Texas Hold’em”
U-M Gets $2M to Study Xenex Robots’ Ability to Sanitize Hospitals
San Antonio—With $2 million in funding from the NIH, researchers at the University of Michigan are going to study the effectiveness of a San Antonio company’s robot that disinfects hospital rooms. Xenex Disinfection Services sells robots that use pulses of xenon-based ultraviolet light to kill so-called drug-resistant “superbugs”—organisms like Clostridium difficile (C. diff) or methicillin-resistant … Continue reading “U-M Gets $2M to Study Xenex Robots’ Ability to Sanitize Hospitals”
Northwestern Mutual Launches $50M Venture Capital Fund
Northwestern Mutual, the life insurance giant based in Milwaukee, said it has launched a $50 million fund that will be used to invest in startups over the next several years. The fund, which the insurer is calling Northwestern Mutual Future Ventures, will make investments in the range of $500,000 to $3 million in early-stage companies. … Continue reading “Northwestern Mutual Launches $50M Venture Capital Fund”
Manufacturing Issues Stall Tesaro Cancer Nausea Drug at FDA
Manufacturing problems have held back several drugs from FDA approval, and the latest example is a Tesaro drug developed to ease nausea and vomiting in cancer patients. Tesaro (NASDAQ: [[ticker:TSRO]]) said Thursday that the FDA raised no concerns about the safety or efficacy of its drug, rolapitant, nor did the regulator ask the Waltham, MA-based … Continue reading “Manufacturing Issues Stall Tesaro Cancer Nausea Drug at FDA”
Warrior Suit R&D Paves Road to Robotics for the Aging and Disabled
When Rich Mahoney was director of the robotics program at SRI International, one of his main projects was an advanced robotic warrior suit that SRI was working on with the Defense Advanced Research Projects Agency (DARPA), a U.S. military research institute responsible for cutting-edge R&D in fields related to national security. The idea was to … Continue reading “Warrior Suit R&D Paves Road to Robotics for the Aging and Disabled”
Cyber Attackers Targeted Our Trust, Not Just an Election
The cyber attacks on political organizations and election infrastructure added a level of intrigue to this year’s U.S. presidential election – culminating in the U.S. government officially blaming the Russian government for trying to influence the election. If the Cold War has taught us anything, it’s that global espionage is a game of chess, not … Continue reading “Cyber Attackers Targeted Our Trust, Not Just an Election”
Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise
GoFundMe, the Redwood City, CA-based fund-raising platform for charities and nonprofits, has acquired CrowdRise, a Detroit, MI-based rival founded by entrepreneurs Robert Wolfe and Jeffrey Wolfe, and Hollywood philanthropists Edward Norton and Shauna Robertson. Financial terms were not disclosed in a statement issued Tuesday by GoFundMe. Brad Damphousse and Andy Ballester founded GoFundMe in San … Continue reading “Social Fund-raising Website GoFundMe Buys Detroit Rival CrowdRise”