Tech firms grow wary as funding streams slow
The red-hot tech industry is cooling down, and local industry insiders say they’re preparing for a landscape in which venture funding may be harder for companies to secure.
The red-hot tech industry is cooling down, and local industry insiders say they’re preparing for a landscape in which venture funding may be harder for companies to secure.
Juanita Easterling now works for Goodwill of Central & Southern Indiana as the plant manager of Cook Medical’s brand-new $15 million medical manufacturing facility on the northeast side of Indianapolis.
The Wabash Heartland Innovation Network in West Lafayette is teaming up with New Hampshire-based Senet to establish a low-power, long-range network that’s ideal for internet-connected devices.
Decimal’s software platform helps customers automate and outsource accounting tasks like bookkeeping and payroll. The company has added 30 employees since February.
Encamp’s software helps its customers fulfill environmental reporting and compliance issues. The company has attracted $47.2 million in investment since its launch in 2017.
Founded in 2018 as Parcel Optimization Technologies LLC, ShipSigma said the new jobs will offer an average wage of nearly $42 per hour.
UKG, which offers an online platform for human-resources tasks like payroll and scheduling, expects to increase employment in Indianapolis to more than 500.
The program, offered through the Indiana 5G Zone, will offer established businesses matching grants of about $200,000 to help accelerate the commercial application of 5G technology.
This is the third acquisition announced this year for Indianapolis-based Greenlight Guru, which offers a platform to help medical device makers with regulatory requirements.
Fishers-based Vibenomics, which provides in-store music, audio advertising and messaging to retail customers, said the funding will help fuel its growth.
Allison Transmission Inc. has invested $335 million over the past four years in product development, strategic acquisitions and new facilities and capabilities, including a new Innovation Center and a separate vehicle testing center at its West 10th Street headquarters campus.
The state’s five automotive assembly plants, and the suppliers who serve them, produce 1.3 million cars and trucks per year, employing just more than 110,000 workers. But the vast majority of that work focuses on gas-powered vehicles.
The Indiana National Guard’s cyber battalion is returning home from an out-of-state deployment this fall, and the Guard is seeking employers with Indiana jobs to offer the soldiers upon their return.
Indianapolis-based technology consulting and analytics firm Resultant has acquired Teknion Data Solutions, which is based in the Dallas metro area. It’s the fourth and largest acquisition Resultant has made in the past three years.
Indianapolis-based XR Technologies, which hires math teachers with non-traditional backgrounds and places them in classrooms around the state, has received approval to launch a teacher licensure program that the company says will help it scale its reach beyond the state’s borders.
The investment fund is Centerfield Capital Partners’ fifth, and the largest yet in the private-equity firm’s 24-year history.
Thomas Buck built a reputation as one of the state’s top financial advisers before being sentenced to prison for securities fraud in 2019.
San Francisco-based Anchorage Digital Bank, which announced in January its plans to open an Indiana office, is the subject of a consent order issued by federal banking regulators. But both the regulators and Anchorage say the bank is working to come into compliance with Bank Secrecy Act and anti-money-laundering regulations.
The $92 million, mixed-use redevelopment project is taking shape on a 19-acre site downtown after nearly a decade of planning.
Todd Borgmann, Calumet’s former CFO, was promoted to CEO effective this week. The move, and several other executive-level changes, were triggered by the May 1 retirement of board chairman Fred Fehsenfeld.