Indiana has taken “a giant step backward” in the availability of early-stage capital for life sciences companies, according to the Indiana Health Industry Forum—which also has a few ideas on how to reverse those developments.
Indianapolis-based Blue Pillar Inc., which makes software to manage electrical grids, has closed on $7 million in funding from four venture capital firms, it said Monday.
BioCrossroads Inc. has raised an $8.25 million seed fund in its second attempt to help startup life sciences companies grow to the point where they can attract venture capital or a corporate funder.
Legacy Travel Club needs to raise $50,000 to unlock commitments from angel investors.
High-tech firms have been clamoring for a couple of decades for nonstop flights between Indianapolis International Airport and California’s Silicon Valley. One of Indiana’s tech icons made it clear recently that the need is as urgent as ever.
Indianapolis-based Strand Diagnostics LLC will receive up to $30 million in investment capital over the next three years from Los Angeles-based NantWorks LLC, a seed-stage investment firm, the companies announced this week.
Health care venture capital has become scarcer in Indiana the past two years, but there are indications that angel investors are picking up some of the slack.
Indiana companies landed just $14.1 million in venture funding last year, the lowest amount of capital flowing to the state’s health care sector since BioEnterprises began tracking such deals in 2005.
As deadlines loom, private equity firms, others, move to deploy capital.
Battery Ventures’ investments in Angie’s List Inc. and Groupon Inc. have produced more than $440 million in paper profit after the Internet-commerce companies sold shares to the public this month.
TechPoint’s 13th annual technology summit might be more notable not for who is on the formal agenda but for who is in the audience.
The investment from Allos Ventures in Carmel and MK Capital in Northbrook, Ill., will help the company expand into more cities. BidPal uses wireless handheld devices to automate charitable auction bidding.
Four Hoosier companies attracted more than $10.5 million, down from 10 companies that attracted $18.5 million during the first half of 2010.
StepStone Business Partners has added a chapter in biotech hotbed Warsaw as part of what it hopes will eventually become a statewide network.
The third annual Innovation Showcase is getting a boost from a partnership between the Venture Club of Indiana and tech social group Verge.
The founder of Mesh Systems, a company that develops wireless “machine-to-machine” communications software and hardware, says his products have countless applications. Earlier this month, Mesh closed on a $2.5 million private placement from investors in Indiana and Wisconsin.
Some Indiana firms are adding management and board firepower—moves likely to help them win over investors should they move ahead with public offerings.
The $68.6 million invested in Indiana companies through the first quarter comes close to approaching the $79.3 million total that venture capital firms invested in the state in all of 2010.
Profits flowing from earlier investments could mean more available capital, but firms continue to be selective in placing their bets.
The Indianapolis tech company said it will use the funding to make key acquisitions, expand in new and existing markets, and accelerate development of its interactive marketing technology.
