Cummins sees more revenue, less profit in latest quarter
Cummins said its profitability was affected by several expenses last quarter, the largest of which was the $56 million that the company spent on a one-time bonus to employees.
Susan Orr
Articles
Carmel-based KAR announces 300-plus job cuts amid belt-tightening moves
Eliminating the back-office jobs in the U.S. and Canada and moving the functions overseas is expected to result in cost savings of more than $10 million per year, according to the auto auction firm.
State-led coalition vying for federal funds to create a hydrogen hub
The Indiana Economic Development Corp., along with public and private partners, is hoping for a piece of $7 billion in grants to establish northwestern Indiana as one of a handful of hydrogen hubs nationwide.
Indianapolis-based ed-tech firm Willo acquired by textbook retailer Follett
Follett, an educational services company with about 6,000 employees nationwide, said it plans to keep Willo’s employees, local Indianapolis presence and brand name. Plans also call for expanding Willo’s 15-person staff.
State teams with Purdue, IU for local government cybersecurity program
The program will offer local government entities free cybersecurity assessments conducted by representatives from Purdue and IU. The state has provided $3.96 million to fund the program.
Restaurateur Scott Wise, wife, file for bankruptcy
Scott Wise, founder of now-defunct Indianapolis-based restaurant chain Scotty’s Brewhouse, said his personal bankruptcy is related to financial issues from the chain’s collapse.
EnPower’s pivot to battery-making leads company to Indianapolis
The company has recently begun testing its first products with customers and is working to ramp up production in coming months.
Going strong: U.S. dollar gained value against key currencies in past year
When the dollar is strong, a U.S.-based company that sells products overseas earns fewer dollars. On the flip side, the cost of imported goods and foreign expenses are lower.
Indianapolis aims to get residents eating more fruits and vegetables
Indianapolis and Denver have been selected as two cities that will work with the Maryland-based Partnership for a Healthier America and the International Fresh Produce Association, a Delaware-based trade group, to try to double residents’ consumption of fruit and vegetables.
New funding source makes Xtern internship program more affordable for startups
A $300,000 investment from the Indiana Economic Development Corp. will cover half the cost of wages and program fees for small startups who want to participate in TechPoint’s Xtern summer internship program.
High Alpha portfolio company Structural acquired by Minnesota-based firm
Structural, which offers an employee-engagement software platform, was launched in 2017 by Indianapolis-based venture studio High Alpha.
Indianapolis plays key role in plans to disrupt shrimp farming industry
Atarraya Inc. is working to create a showroom and training facility in the city for its new signature product, the Shrimpbox.
New High Alpha startup, Stitch, offers software consulting for Twilio users
Stitch, an Indianapolis-based software consultancy, was founded in July by three former leaders at Indianapolis-based Lev. Stitch now has about 20 employees, a number its CEO says could grow to 150 or more over the next three years.
Trava Security sees big potential in cybersecurity insurance market
The company helps insurance carriers collect the data needed to underwrite insurance policies.
High Alpha startup Humankind closes on $4.2M seed round
Humankind is a software-as-a-service company whose platform allows retailers to make personal connections with online shoppers. Indianapolis-based venture studio launched the company last fall, and it now has 16 employees.
Indiana-based ag-tech startup lands $3M in seed funding
Carmel-based Hageman Group, Indianapolis-based Allos Ventures and Indianapolis-based Elevate Ventures Inc. all participated in the funding round.
Tax-credit online marketplace creates connections for more deals
Indiana’s entrepreneurial community has high hopes that the new service will help attract more out-of-state investment in Hoosier startups.
Belgian tech startup Unbox to set up U.S. HQ in Indianapolis
The software company Unbox says it plans to establish its U.S. headquarters in Indianapolis as well as a software development, research and testing hub in West Lafayette. The company said it hopes to have up to 380 Indiana employees within the next few years.
Manufacturing tech grants helped Hoosier companies grow their workforce, report says
On average, recipients of the state’s Manufacturing Readiness Grants added five new jobs as a result of the technology investments.
Westfield-based Taranis lands $40M growth investment
Taranis, which was founded in Israel in 2015 and moved its headquarters to Westfield in 2020, offers a software platform farmers can use to monitor and manage their crops.