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.
According to PitchBook data, Indiana firms attracted $730.5 million in venture investments last year, down 2% from the $748.7 million they landed in 2022. The number of venture deals dropped 13%, from 188 in 2022 to 164 in 2023.
The $43 million investment, by far the largest in 120Water’s eight-year history, will help the water management software company pursue some of the big opportunities that lie ahead, CEO Megan Glover says.
Since he was tapped in 2022 to lead Indianapolis-based Elevate Ventures, Christopher Day has used his experience as an entrepreneur and investor to help the firm expand its growth investing.
Venture investing in tech firms was still sluggish in 2023 as compared to the peak activity of 2021, but a handful of Indiana-based tech companies and venture investors still got some big deals done this year.
The technology allows sports fans to both hear and feel sounds with greater clarity than they otherwise could.
Among the updates are a boost in annual funding for venture development in partnership with venture firm Elevate Ventures and the creation of a $3 million pre-seed fund.
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-based High Alpha Innovation announced this week that it has closed on $17.5 million for its new 1842 Fund, which will invest in startups affiliated with University of Notre Dame faculty, students and members of the greater South Bend and Elkhart communities.
Indianapolis-based HG Ventures this week released a report in which it outlines how technology could solve long-standing issues such as traffic congestion, safety and sustainability.
The investment sets the stage for collaboration between Allegion and Ambient.ai, whose technology helps customers identify and prevent potential security incidents.
Equity investments in each of the firms will come from a Butler University philanthropic fund, and the school is currently talking with potential additional investors.
Echoing national trends, both the number of venture investments into Indiana companies and the total value of those deals declined as compared with last year, the TechPoint report says.
Indianapolis-based Plan Forward, which helps dental practices set up membership plans for their patients, plans to use most of the investment on sales and marketing, while some will go toward improving its software platform.
By working together, EIG and High Alpha say they can combine their areas of expertise and potentially speed up the process of launching new startups.
Indianapolis-based software firm ConverSight.ai helps clients analyze their data and make business decisions. The company has raised a total of $15 million since its founding in 2017.
True Essence Foods, whose original product was an artisanal chocolate called SoChatti, has secured 15 patents for its technologies, with another 70 patent applications in process.
The funding round included participation from Indianapolis-based investors Elevate Ventures and VisionTech Partners.
Dimension Mill just closed its fourth angel investors’ fund this week, with $1.08 million from 52 investors. The fund has been so successful since the program’s launch in 2020 that Dimension Mill is planning significant expansion to spur more investment activity.
