Indianapolis-based High Alpha leads $8.9M investment in retail-tech startup
The company’s founder and CEO, Arthur Root, started Nostra AI while he was a student at Indiana University.
Investors
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Andretti special purpose acquisition company to merge with Boston-based AI startup
Andretti Acquisition Corp., a blank-check company that was formed last year, announced Wednesday that it plans to merge with Boston-based startup Zapata AI.
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SPACs lose their spark with deals hard to find
Around Indiana and the nation in recent weeks, special purpose acquisition companies, or SPACs, are shutting down and returning money to investors. In other cases, investors are taking a bath.
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SPACs sound arcane, but make buckets of money for Indy investors
A nontraditional way to take companies public is booming on Wall Street, leading to an unprecedented explosion of deals.
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Service firms receiving multiple buyout offers from private equity investors
Private equity firms are simply head over heels for service firms such as plumbing and heating and air-conditioning companies.
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Articles
Big Tech says AI is booming, but Wall Street is starting to see a bubble
A growing number of Wall Street analysts and tech investors are beginning to sound the alarm about the immense amount of money that is being poured into artificial intelligence by Big Tech companies, stock market investors and venture-capital firms.
All eyes are on Nvidia’s stock, so what’s been going on?
Early last week, Nvidia overtook Microsoft as Wall Street’s most valuable public company. Then it fell 13% over three days, its worst such stretch since 2022.
Andretti SPAC’s shareholders to vote on proposed merger with AI firm
If Andretti Acquisition Corp.’s shareholders approve the merger, the deal is expected to close shortly after the vote, and shares of the combined company will begin trading on the New York Stock Exchange.
Marketing-tech firm Hummingbirds expands to Indy after $3.3M investment
The concept of social media influencers being compensated for promoting things online isn’t new, but Hummingbirds’ CEO said what sets the firm apart is its focus on local social media users in targeted cities.
Indianapolis startup Bereave aims to improve funeral planning
Bereave, which launched quietly in 2021, is developing an online platform where individuals can preplan the details of their funerals. The company is working to raise close to $1 million in “friends and family” funding
Magic Johnson to speak at Rally conference in Indianapolis
Basketball-star-turned-entrepreneur Earvin “Magic” Johnson will be among the keynote speakers at the Rally innovation conference in August, event organizers announced Tuesday.
Podcaster Raz announced as keynote speaker for Rally innovation conference
Indianapolis-based Elevate Ventures, which is organizing the first-time event, announced Guy Raz on Tuesday as the first keynote speaker for the event.
Indianapolis VC firm Ivy Ventures launches with $20M fund
Local entrepreneur and general partner Scott Kraege co-founded Ivy Ventures with Mike Reynolds, CEO of Indianapolis-based Innovatemap, and John Wortman, CEO and co-founder of Carmel-based Valeo Financial Advisors LLC.
Elevate Ventures launching new multiday innovation conference
The new event, called Rally, will take place at the Indiana Convention Center and feature a $5 million pitch competition, more than 200 speakers, and opportunities for entrepreneurs to demonstrate their innovations and meet individually with potential investors.
New (Ind)Venture collaboration features three local VC events
The Venture Club of Indiana, TechPoint, 50 South Capital and Elevate Ventures are hosting three back-to-back events next week for investors and Indiana founders. By working together, the organizations hope to gain more traction than they could separately.
Federal judge dismisses investors’ complaint against Elanco alleging ‘channel stuffing’
U.S. District Court Judge Sarah Evans Barker ruled the plaintiffs failed to clearly show that public statements made by Elanco’s top officials were false and misleading during a two-year period in question.
Elevate Ventures is opening its annual pitch event to the public
Elevate Ventures’ annual pitch competition takes place Aug. 5 in Fishers, and this year for the first time the event is free and open to the public.
Treasurys slump ignites global selloff as rate hikes gain focus
Long-term U.S. Treasury yields jumped to a three-year high on Monday, fueling a global rise in borrowing costs as traders intensified bets on aggressive rate hikes from major central banks.
High Alpha leads $10M investment in Chicago-based software startup Logik.io
Logik.io, which was launched in February, offers software that helps sales reps and customers secure price quotes in complex sales situations.
High Alpha startup Filo lands $3M in seed funding
Filo, which was launched by Indianapolis-based venture studio High Alpha last year, offers an interactive platform for online meetings, gatherings and events.
As Bitcoin goes mainstream, Wall Street looks to cash in
Cryptocurrencies have surged so much that their total value has reached nearly $2.5 trillion, rivaling the world’s most valuable company, Apple, and have amassed more than 200 million users. At that size, it’s simply too big for the financial establishment to ignore.
Indianapolis-based myCOI lands $5M in debt financing to fuel growth
Established in 2009, myCOI uses proprietary software and human expertise to help clients assure that they and their business partners have the proper insurance coverage.
Wall Street snaps back following worst week since February
Investors are still figuring all the ramifications of the Fed’s latest meeting on interest-rate policy, where it indicated it may start raising short-term rates by late 2023.
Fed boosts inflation forecasts, moves up expectations for interest rate hike
The Federal Reserve expects inflation will climb to 3.4% this year, higher than the central bank’s previous forecasts, and projected for the first time that there could be two interest rate hikes in 2023.