Q&A: BiomEdit CEO goes behind the scenes of an $18.4M VC round
The animal health startup had fundraising success in 2025, a year in which investment deals were hard to come by.
Venture Capital
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Checking in with past winners of Rally’s IN-Prize pitch contest, aimed at bringing startups to Indiana
The pitch contest, which comes with the potential for up to $1 million in rewards for each of the winners, returns this week as part of Elevate Ventures’ annual Rally innovation conference.
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Lingering conflict means angst for startup community
Indianapolis-based Elevate, a nonprofit venture investment firm, has been operating under a cloud since late April when state officials froze its funding.
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Q&A: Distressed property broker and Deadhead seeks levity in tough deals
After more than 30 years in the commercial real estate industry, Jon Hardy has launched his own specialized company focused on helping investors acquire properties in need of care.
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Insurance-tech firm Remodel Health raises $100M in growth funding
The firm, which helps employers transition workers to individual health insurance plans, has more than doubled its workforce in the last year and hopes to go on an acquisition spree.
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Articles
Venture capital investment in tech firms declined in 2025, TechPoint report says
TechPoint, the growth initiative for Indiana’s tech sector, said the report highlights “a year defined by recalibration and renewed focus on long-term value creation.”
Indianapolis software firm Opendate lands $14M in growth capital
The company advertises its AI tool as the first of its kind built specifically for managing offers to artists, event details and marketing efforts.
Investors say AI streamlines the work of analyzing deals—but humans still call the shots
Firms locally and nationwide are using AI to help them with everything from researching potential investments to drafting reports to helping them understand complex legal documents.
Crossroads Health Ventures fund secures $21M to support life sciences startups
The fund has secured commitments from Eli Lilly and Co., Corteva Inc., Elanco Animal Health, Indiana University, Parkview Health and the Indiana Economic Development Corp.
Heartland Ventures launches $60M investment fund
Heartland’s investors are established Midwestern companies—businesses such as manufacturers, construction firms, logistics providers and real estate firms—and it makes investments into early-stage industrial technology startups with products that could benefit those investors.
RapidSOS tops $1B value with Apax Digital investment
The emergency response app founded by southern Indiana native Michael Martin has raised more than $450 million from investors including BlackRock Inc. and Highland Capital Partners.
New Indianapolis venture studio aims to launch 8-12 startups in next few years
Indianapolis-based Alloy Partners says its OneHealth Studio, a venture studio that quietly began operating last month in partnership with Elanco Animal Health Inc., will be ready to create its first startups early next year.
AI tools allow startups to drastically reduce their initial costs
Artificial intelligence is making it less expensive to start and operate a company—and potentially reducing these startups’ reliance on venture funding.
Indianapolis-based Ren Inc. lands big growth investment from Boston-based investor
This is the second large, outside investment secured by Indianapolis-based Ren Inc., which provides technology and services for the philanthropic sector, in recent years.
Carmel-based Spektrum Labs secures $10M seed round
Local tech entrepreneur J.J. Thompson, who sold his previous tech firm, Rook Security, in 2019, is at it again with a new startup, Spektrum Labs.
Carmel tech firm OneCause acquired by Texas-based company
Pre-acquisition, OneCause had just over 200 employees, 119 based in Indiana. CEO Steve Johns, who will leave the company after the transition, said all of OneCause’s employees have retained their jobs.
Software firm opens ‘living lab’ in Carmel as it works to raise first-ever venture investment
Carmel-based software company Alleo, which launched in 2019, opened a space that’s part showroom, part test and demo space for new and existing users of its online collaboration platform.
Loan-related Elevate Ventures questions remain following audit report release
An audit report released Thursday does not address some lingering issues between Elevate and the Indiana Economic Development Corp., including a loan default issue.
Takeaways from the forensic audit of the IEDC, Elevate Ventures and other related entities
The report details findings related to the Indiana Economic Development Corp., the Indiana Economic Development Foundation, the LEAP District, Elevate Ventures and the Applied Research Institute.
As private equity pursues public utilities, reports say BlackRock subsidiary wants to buy AES
BlackRock’s interest in AES represents a growing trend of private equity firms investing in, or buying outright, public utility companies as artificial intelligence fuels increasing electricity demands.
IEDC approves $10M in federal funding to launch Indianapolis venture studio
The Indiana Economic Development Corp. approved $10 million in federal funding for the planned OneHealth Venture Studio, which will operate on Elanco Animal Health’s new Indianapolis campus.
Scott Dorsey to Rally crowd: AI age reminiscent of dawn of the internet, but ‘so much faster’
At the annual Rally innovation conference, High Alpha founder Scott Dorsey joined Colorado-based tech entrepreneur Godard Abel for a chat about who will win—and who will lose—in the age of artificial intelligence.
UPDATE: IEDC board allows Elevate Ventures to continue investment activity
The move came hours after Gov. Mike Braun—whose administration last spring froze funding for the nonprofit—made an unscheduled appearance at Elevate’s Rally innovation conference.
Butler Angel Network aims to give students venture capital experience
Students will actively participate in due diligence, deal sourcing, portfolio analysis and angel investor communication as a way to gain real-world exposure to early-stage investing, the university said.