Elevate Ventures, which occupies a 6,000-square-foot office on the north side of Indianapolis, will relocate to a much larger space at 1 Virginia Ave. within the next few months.
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The CEO of Indianapolis-based Elevate Ventures spills on expanding the search for talent, the untapped power of collaboration, and the five aspects of a business where entrepreneurs can minimize risk and attract investors.
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The five winners—three startups from California and one each from Kentucky and Massachusetts—are now eligible for up to $1 million in investment funding, provided they commit to establishing a presence in Indiana for at least a year.
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GeniPhys has developed a material known as Collymer, a highly-purified form of collagen that can be used to replace tissue that is lost in wounds and also forms “stable, fibrillar collagen scaffolds” that can help rebuild lost tissue.
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Founded in 2009, Paccurate is a parcel intelligence platform that helps businesses pack their shipments more efficiently, saving up to 15% on transportation costs and reducing their carbon footprints.
While not unusual for venture funding in a third quarter, the latest investments totaled a small fraction of what Indiana tech firms received in both the first and second quarters of this year.
The company’s founder and CEO, Arthur Root, started Nostra AI while he was a student at Indiana University.
Champion, a marketing data firm founded in 2023 by former employees of Salesforce and Aircall, has raised a total of $5.3 million since its launch.
Insignum AgTech and Grannus Therapeutics were among the five winners announced Wednesday.
The founders designed the online platform to make it easier for K-12 schools to file required regulatory compliance reports. The company also sees opportunities in other regulated industries such as higher education, utilities and health care.
Local financial planning guru Peter “Pete the Planner” Dunn said the funding will help his company accelerate the development of an artificial-intelligence powered tool that will offer customized financial coaching.
According to TechPoint’s second-quarter Indiana Tech Venture Report, last quarter’s deal value rose to more than $216 million, towering over the $47 million posted in the second quarter of 2023.
Luster, which launched out of Indianapolis-based venture studio High Alpha, offers a software platform that creates custom training sessions for salespeople. The company had its public debut this week and already has landed a few paying customers.
Holder, a blockchain-focused marketing tech firm, launched out of Indianapolis venture studio High Alpha in 2022. Its CEO told IBJ the company was too early to market in an emerging industry.
Fund IV marks some shifts in Indianapolis-based High Alpha’s operating strategy—notably, it plans to launch fewer companies per year than it traditionally has in the past, and it has cut its staff nearly in half.
The new fund, called the Elevate Ventures Growth fund, will be aimed at companies with a $500 million or greater total addressable market.
Indianapolis-based Tenon Software Inc. plans to use the new funding to grow its staff, accelerate product development and boost marketing.
As part of its investment, Indianapolis-based Allison will gain access to EnerTech Capital’s network of companies working on automotive technologies in the areas of electrification, connectivity, autonomy and digitization.
Paxafe’s software helps customers identify and avoid potential logistical disruptions in shipments of temperature-sensitive products such as pharmaceuticals and foods.
The program, a joint effort between Butler University, Indianapolis-based TechPoint and Wisconsin-based gener8tor, offers $100,000 investments to each of the participating companies.
Indiana’s tech companies landed a combined $348.8 million in venture funding last quarter, which was the strongest first-quarter activity since recordkeeping began in 2015, TechPoint says.
IDEA Week is an annual entrepreneur and innovation festival that takes place in the South Bend-Elkhart region. This year, the weeklong festival will extend its brand to events in Indianapolis in hopes of forging stronger connections between the two regions.
Wong’s appointment comes just a few weeks after BioCrossroads released a report warning that Indiana’s life-science sector is starting to lag the nation in growth and market share and will require a focused effort to stay competitive.
Thirty-four Indiana companies landed $287 million in venture capital in 2023 to help finance a wide array of technologies, from medical isotopes to stem-cell therapies, according to BioCrossroads, an Indianapolis-based group that promotes and invests in the state’s life sciences sector and tracks the funding.
