Posts filtered by tags: Detroit blog main[x]


 

“At a Critical Juncture,” Desktop Metal Gets $160M From Koch Fund

Desktop Metal, a metal 3D-printing company, has raised $160 million in a funding round led by the technology arm of Koch Industries, the multinational industrial conglomerate led by billionaire philanthropists and right-leaning political donors Charles and David Koch.With the Series E funding from Koch Disruptive Technologies and other investors, Burlington, MA-based Desktop Metal says it has now raised a total of $438 million in venture capital financing since launching in 2015.Chase Koch, pre...
Tags: Google, Deals, Ge, Microsoft, Boston, Trends, Tech, Nike, Vc, 3d Printing, Ford, Venture Capital, Homeland Security, L'oreal, Toyota, Panasonic


Plymouth Growth Partners Backs Fort Wayne’s Allied Payment Network

Plymouth Growth Partners has made another investment in an Indiana tech company.The Ann Arbor, MI-based venture capital fund has invested an undisclosed amount in Allied Payment Network, which is located in Fort Wayne, IN. Plymouth partner Jeff Barry says the deal was valued in the “multi-millions.” Barry will join Allied’s board as part of the deal.Allied is a financial technology company perhaps best known for marketing Picture Pay, software that allows users to take a photo of a bill or invo...
Tags: Deals, Startups, Entrepreneurship, Trends, Indiana, Vc, Software, Venture Capital, Plymouth, Detroit, Barry, Fintech, Financial Technology, Fort Wayne, National blog main, Detroit blog main


What’s Your Emergency? Law Enforcement’s Increasing Interest in Tech

Fort Worth, TX—Data analytics and visual search technologies are increasingly being used by law enforcement agencies, growth that has captured the attention of tech giant Motorola.The Chicago-based tech company, which has long sold narrow-band radios to law enforcement, has been building its arsenal of software and camera technologies through a series of acquisitions. The latest by Motorola Solutions (NYSE: MSI) was a $445 million purchase last week of Vaas, a Fort Worth, TX-based maker of imag...
Tags: Startups, Mobile, Motorola, Apps, 911, Police, Trends, Tech, Analytics, People, Cybersecurity, Law Enforcement, Broadband, Software, Chicago, South Africa


Auto Show Notes: Techstars Mobility Rebrands, Expands Mission

Detroit’s North American International Auto Show was the place for a plethora of mobility-related announcements this week, including some significant news from the Boulder, CO-based Techstars accelerator program.Techstars launched an incubator for mobility startups in the Motor City four years ago, and the program has flourished since. In recognition of that success as well as an expanded mission, Techstars has changed the name of the program from Techstars Mobility to Techstars Detroit, says m...
Tags: Google, Startups, Entrepreneurship, Trends, Software, Ford, Auto Industry, Innovation, Venture Capital, Mobility, Manufacturing, Honda, Nationwide, Detroit, TechStars, AAA


NAIAS: Ford’s Foray into Microtransit Proved Valuable, Klevorn Says

Detroit’s North American International Auto Show (NAIAS) pulled back the curtains for a media preview Monday and Tuesday before it opens its doors to the public next week.Coming on the heels of CES—the annual technology conference in Las Vegas that has increasingly become the preferred venue for automakers to showcase their latest technology developments—the Detroit auto show is a more car-centric affair. However, as automotive companies strive to be seen as tech companies, there is also plenty...
Tags: Deals, Lyft, Trends, Ces, Ford, Scooters, Auto Industry, Innovation, Mobility, Las Vegas, Volkswagen, Detroit, Smart Cities, Spin, Chariot, North American International Auto Show


A VC’s Take: Global Volatility Hurts U.S. Venture Ecosystem

As Xconomy’s editors looked back at the year just passed, we asked technology leaders to comment on the trends they’d observed in 2018, and the developments they expected in 2019. Some leaders responded with their views on the business impact of the Trump era, pointing to specific policy positions such as tax code revisions, curbs on immigration, and the decision by federal regulators to roll back net neutrality requirements on telecom carriers.Alex Niehenke, a partner at Foster City, CA-based ...
Tags: Startups, Mobile, Hardware, Net Neutrality, Internet, Entrepreneurship, China, Russia, Funding, Immigration, San Francisco, Trends, Tech, Investment, Eu, Web


Smartsheet Buys TernPro, Seattle Developer of Collaboration Tools

Smartsheet, a Bellevue, WA-based company that develops collaborative software allowing users to track projects and manage company processes, said Tuesday it has acquired Seattle-based TernPro, whose flagship product Slope lets customers mark up documents, images, videos, and other media before releasing them to a wider audience.Financial terms of the deal were not disclosed.Smartsheet’s (NYSE: SMAR) and TernPro’s products both fit into the category of collaborative work management tools. But th...
Tags: Amazon, Deals, Trends, Tech, Oakland Athletics, Seattle, Major League Baseball, Amazon Web Services, Microsoft Ventures, Sendgrid, Forrester, Slope, Exabyte, National blog main, Seattle blog main, Seattle top stories


Bio Roundup: #JPM19 Notes, Loxo Buyout, Black Diamond’s Cash & More

Diabetes drugs are Eli Lilly’s bread and butter, but the pharmaceutical giant hasn’t lost its appetite for cancer drugs. It grabbed hold of a few more this week by betting $8 billion on Loxo Oncology.Loxo (NASDAQ: LOXO) has made a name for itself by becoming one of just two companies ever to earn an FDA approval for a drug that targets a tumor’s DNA fingerprint, no matter where in the body that cancer is found. The drug, larotrectinib, targets rare tumor abnormalities known as NTRK fusions. The...
Tags: Deals, Startups, Ipo, Cancer, Trends, Medicare, SEC, Fda, National, GlaxoSmithKline, Allergan, Shire, Biotech, Medical Device, Postpartum Depression, Bernie Sanders


Kaleido Bio and Cirius Join an IPO Queue Stalled by Federal Shutdown

The partial government shutdown may have diminished staffing at the SEC, but it hasn’t dimmed the hopes of biotech firms hoping to go public. On Friday, Kaleido Biosciences and Cirius Therapeutics both filed paperwork for their respective initial public offerings with the securities regulator.While it’s operating with “very limited staff” due to the shutdown, the SEC’s electronic system for regulatory filings is still up and running. Kaleido and Cirius join a handful of biotechs that have filed...
Tags: Startups, Drugs, Ipo, Boston, Trends, Investing, SEC, Biotech, Government Shutdown, Microbiome, Life Sciences, Clinical Trials, Frazier Healthcare Partners, National blog main, Boston blog main, Boston top stories


Online Tech Expands Cloud, Data Services with Neverfail Acquisition

Online Tech, the Ann Arbor, MI-based provider of cloud services, beefed up its capabilities last month when it acquired the infrastructure-as-a-service and data protection businesses of Neverfail, an IT company located in Austin, TX. The terms of the deal were not disclosed.Online Tech CEO Brad Cheedle says his company offers managed services around cloud computing. The company’s service include assessing if a customer is cloud-ready or migrating their data to the cloud, Cheedle says. “Companie...
Tags: Deals, Startups, Entrepreneurship, Cloud Computing, Trends, Tech, It, Software, Austin, Innovation, Data Protection, Detroit, Infrastructure As A Service, Ann Arbor, National blog main, Texas blog main


Uncertainty Grows for Biotech as Government, FDA Shutdown Drags On

The partial government shutdown could soon become the longest shutdown in history, and biotech firms that have submitted regulatory filings are facing greater uncertainty about their future plans. More than 40 percent of FDA workers and thousands at the SEC are furloughed, and FDA Commissioner Scott Gottlieb is resorting to Twitter to post updates about how his agency is using its fast-dwindling funds. Here’s a roundup of how the partial government shutdown is affecting the FDA.On Tuesday, Gott...
Tags: Startups, Ipo, Trends, SEC, Fda, National, Biotech, Government Shutdown, Shutdown, Life Sciences, Clinical Trials, NDA, Gottlieb, Scott Gottlieb, National blog main, New York blog main


FAANG, Public Trust, Valuations, in 2019: The Read from Menlo Ventures

The market caps of some of the most successful tech titans reach as high as $1 trillion. Yet in 2018, perceptions about these dominant companies often reflected uneasiness and doubt—and for some, so did their stock performance.Maybe the mood shift has to do with the fact that the public and government leaders no longer evaluate these tech giants based solely on their spectacular market growth and multi-billion-dollar valuations, but also on the effects of their products, which are woven into al...
Tags: Apple, Google, Amazon, Startups, Facebook, Uber, Microsoft, Privacy, Entrepreneurship, Ipo, Russia, Funding, San Francisco, Trends, Tech, Vc


Big Deals, Life Sciences Push U.S. VC in 2018 to Dot-Com Boom Levels

Venture capital investments rose in 2018 to levels not seen since the heady days of 2000, the last year U.S. startups collectively took in more than $100 billion.That’s according to PitchBook and the National Venture Capital Association’s Venture Monitor report, released this week, which tallied nearly 9,000 deals made last year, through which venture investors sunk $130.9 billion into companies. That was about 500 fewer deals than in the year prior, but the total amount invested increased by $...
Tags: Deals, Startups, Lyft, Uber, Entrepreneurship, Funding, Trends, Vc, Software, Pwc, Venture Capital, Angel, National, WeWork, Magic Leap, Biotech


Smooth-Driving Startup ClearMotion Gets $115M for Production Push

Auto technology startup ClearMotion says its active suspension system promising buttery-smooth rides on bumpy terrain is ready for prime time.The Boston-area business says it raised a $115 million Series D funding round led by Franklin Templeton Investments and it is working with a handful of automotive manufacturers to commercialize the product.ClearMotion developed a car suspension system it likens to noise-cancelling for potholes and the like that was based on research audio technology compa...
Tags: Deals, Microsoft, Boston, Trends, Tech, Mit, Vc, Automotive, Data Science, Venture Capital, Machine Learning, Mobility, Birmingham, Bose, Qualcomm, BRIDGESTONE


Tetra Inks Deal with Shionogi to Support Fragile X, Alzheimer’s R&D

The lead drug of Tetra Discovery Partners is already in mid-stage clinical studies as a treatment for the rare Fragile X Syndrome. But the Grand Rapids, MI, biotech says its drug could also treat a disorder affecting far more people: Alzheimer’s disease. The startup has reached across the Pacific Ocean to land the cash for an Alzheimer’s clinical trial.Just before the holiday break, Tetra  announced a partnership with Japanese pharmaceutical company Shionogi for the clinical development and com...
Tags: Deals, Startups, Drugs, Entrepreneurship, Trends, Alzheimer's Disease, Innovation, Biotech, Detroit, Pacific Ocean, Clinical Trials, Eli Lilly, Japan Taiwan, Tetra Discovery Partners, Mark Gurney, TETRA


The Power Combo of A.I. Devices with Cloudlets Comes with Cyber Risks

When we have a chance to view it from a distance, the year 2018 may be seen as a period when innovations in a number of technological fields came together to transform not only the future of computing, but also the very structure of the Internet.First, entrepreneurs vying to invent self-driving vehicles, virtual assistants, and intelligent industrial machines created a hunger for more powerful semiconductors that could enable scattered devices to take over sophisticated calculations powered by ...
Tags: Startups, Mobile, Cloud, Hardware, Internet, Entrepreneurship, Funding, San Francisco, Trends, Tech, Web, It, Cybersecurity, Ransomware, Vc, Software


Microsoft, Kroger Advance Grocery Tech to Fend Off Amazon

From the cloud on down to the floors of supermarkets, the rivalry between Microsoft and Amazon spans many sectors in software, gadgets, and increasingly, retail.The Seattle-area tech giants are battling—both with one another, and other competitors—to further digitize grocery shopping. The latest salvo came on Monday from Microsoft (NASDAQ: MSFT), which announced new details of its partnership with Kroger (NYSE: KR), one of the leading grocery store chains in the U.S. The Cincinnati-based grocer...
Tags: Amazon, Deals, Microsoft, Whole Foods, Cloud Computing, Trends, Tech, Amazon Prime, Supermarkets, E-commerce, Software, Grocery Stores, Retail, Seattle, Cincinnati, Kroger


Bio-JPM Roundup: Lilly Buys Loxo, Sage’s Stock Soars, ALS Cash & More

The flow of biotech news is particularly heavy today, and for good reason. The annual J.P. Morgan Healthcare Conference, one of the biggest gatherings for the biopharmaceutical industry, kicked off today in San Francisco, and many companies, whether they’re speaking at the event or not, use this time to get their news out.Xconomy is on the ground covering the conference this week. In the meantime, here’s a short roundup of biotech news announced today.DEALS AND DATA—Eli Lilly (NYSE: LLY) is pay...
Tags: Deals, Startups, San Francisco, Trends, Investing, Vc, Venture Capital, Fda, National, GlaxoSmithKline, Biotech, Postpartum Depression, Life Sciences, Clinical Trials, Celgene, Gilead Sciences


Humatics Raises $28M Round to Advance Spatial Intelligence Platform

Humatics, the Waltham, MA-based startup working on microlocation technology for use in robots and autonomous vehicles, today announced that it has raised $28 million in a Series A1 round.The investment was led by Tenfore Holdings, with participation from Blackhorn Ventures, JCI Ventures (the venture arm of Johnson Controls), and all major investors from Humatics’ 2017 Series A round, including Fontinalis Ventures, Airbus Ventures, Lockheed Martin Ventures, and Presidio Ventures. The two rounds ...
Tags: Deals, Startups, Entrepreneurship, Boston, Trends, Mit, Vc, Software, Innovation, Venture Capital, Gps, Series A, Industrial Robots, Waltham, Johnson Controls, Airbus Ventures


Eli Lilly Makes an $8B Cancer Genetics Bet with Loxo Acquisition

[Updated 1/7/19, 11 a.m. ET. See below.] Eli Lilly is set to acquire Loxo Oncology for approximately $8 billion—a deal that brings to the Indianapolis pharmaceutical giant a class of drugs that treat cancers with particular genetic signatures.Under the agreement announced Monday, Lilly (NYSE: LLY) will pay $235 cash per share of Loxo (NASDAQ: LOXO), which is a 68 percent premium to the Friday closing price of the Stamford, CT, cancer drug developer. Following the news of the deal, shares of Lox...
Tags: Deals, Drugs, Cancer, Trends, Indiana, Indianapolis, Mergers and Acquisitions, Fda, GlaxoSmithKline, Biotech, Life Sciences, Bayer, Clinical Trials, Celgene, American Society of Clinical Oncology, Stamford


Vade Nutrition Swims Out of MSU and Into “Shark Tank,” Scores $700K

While attending Michigan State University in the mid-2010s, Joe Johnson earned a degree in finance, served as the captain of the school’s wrestling team, and met and married his wife Megan. In between, he found time to dream of starting his own company, but he never imagined he would one day count retired professional baseball player Alex Rodriguez among its backers.It all started when he met Megan, a former cheerleader at the University of Arizona, at a camp for college athletes a few years ag...
Tags: Startups, Entrepreneurship, Trends, Vc, Nutritional Supplements, Innovation, Mark Cuban, Venture Capital, University Of Arizona, Detroit, Alex Rodriguez, Shark Tank, Protein, MSU, Joe Johnson, Megan


From Immigration to Taxes, Execs Talk Trump Effect on Innovation

When it comes to developing and promoting innovation, external factors beyond the control of company founders, investors, and other business leaders can also determine whether a startup succeeds or fails.In 2018, geopolitical events—in particular, President Donald Trump’s hard-line stances on trade and immigration, and the repeal of net neutrality rules—were top of mind for several business executives we interviewed recently. They shared their thoughts via e-mail with me, Xconomy’s national cor...
Tags: Startups, Mobile, Politics, Net Neutrality, Internet, Washington, China, Funding, Immigration, Trends, Tech, Investment, Tax, Web, People, Software


Bio Roundup: $74B for Celgene, Two CAR-T Tales, Ready for SF & More

In 2018, my Exome colleagues and I published hundreds of stories about health, medicine, the biopharma industry, government policy, and more. You’ll find a few of our favorite stories in this review of some of the year’s best from across the Xconomy network. Topics ranged from the worries over CRISPR genome editing and Wild West biohacking, to Nobel Prize-fueled drug approvals and the headaches around drug prices (even for drugs meant to cure headaches).What will make our Best of 2019 list? You...
Tags: Ipo, Trends, CMO, Merck, Ceo, Vc, Lung Cancer, Fundraising, Venture Capital, M&a, Private Equity, Fda, National, Manufacturing, Immunotherapy, Abbvie


Invest Michigan Hits Milestone, Backs Fiftieth Company in Four Years

Invest Michigan, an investment fund supported by the state-backed Michigan Strategic Fund, hit a major milestone at the end of 2018: it invested in its fiftieth company in four years.Ann Arbor’s Spellbound, which has developed a therapeutic tool to help kids cope with illness and engage in treatment through augmented reality technology, received the funding. (The amount was not disclosed.)Invest Michigan, which does early-stage investing and manages the Michigan Pre-Seed Fund II, has made a tot...
Tags: Startups, Entrepreneurship, Trends, Vc, Innovation, Venture Capital, Michigan, Detroit, Fintech, Ann Arbor, Detroit Venture Partners, National blog main, Detroit blog main, Detroit top stories, SPLT, Early-Stage Investment


In a Huge Biopharma Shakeup, Bristol-Myers to Buy Celgene For $74B

Bristol-Myers Squibb has agreed to acquire Celgene in a deal that would create one of the largest biopharma organizations in the world and send ripples throughout the life sciences sector.Bristol (NYSE: BMY) on Thursday morning inked a deal to buy Celgene (NASDAQ: CELG) in a deal that values the Summit, NJ, drugmaker at $74 billion, or $102.43 per share. Celgene shareholders will get $50 in cash and one Bristol share for each Celgene share they own. They’ll also get one tradeable contingent val...
Tags: Deals, Trends, Merck, M&a, Fda, National, Bristol, Biotech, Life Sciences, Celgene, Bristol-myers Squibb, KEYTRUDA, CVR, Opdivo, Orencia, Revlimid


New Year to Bring New Data Security Threats, Cyber Investor Warns

Bob Ackerman is one of the venture capitalists whose funding has long fed the growth of the burgeoning cybersecurity industry. So, you might imagine that his outlook on data protection for 2019 would be more optimistic than in past years, because businesses now take advantage of a broad choice of security services to protect themselves.Ackerman (pictured) is founder and managing director of San Francisco-based VC firm AllegisCyber, and co-founder of Fulton, MD-based DataTribe, which helps launc...
Tags: Startups, Mobile, Facebook, Hardware, Internet, Entrepreneurship, China, Russia, Funding, San Francisco, Trends, Tech, Web, It, Malware, Cybersecurity


Copps: Key Ingredient As A.I. Permeates Daily Life is Building Trust

The promise, and pitfalls, of artificial intelligence became more apparent in the last year, and for Dave Copps, founder of A.I. companies such as Brainspace and Hypergiant Sensory Sciences, the pace of adoption will only accelerate in 2019.What can help to smooth the transition to our new machine learning-enabled future is an effort on the part of technologists to build trust between ourselves and these tools. One way to build that trust is efforts like Tim Berners-Lee’s “Contract for the Web,...
Tags: Startups, Texas, Cortana, Trends, Siri, Tech, People, Software, Innovation, Machine Learning, Dallas, Tim Berners Lee, Alexa, Exabyte, National blog main, New York blog main


From Alnylam to Zayner: Xconomy’s Top Innovation Stories of 2018

2018 was a year of ups and downs for the business and technology community. It was a year of big exits—both IPOs and acquisitions—for tech and life sciences companies. Venture funding remained strong, but more money went to fewer (and later-stage) companies overall. As the year winds down, we’re reflecting on the big innovation trends and developments that will carry over to next year.Storylines in various sectors helped shape the overall narrative in 2018. Cell and gene therapies, cancer immun...
Tags: Deals, Startups, Technology, Cloud Computing, Trends, Tech, IPOs, It, People, Cybersecurity, Analysis, Vc, Software, Bitcoin, Bill Gates, Innovation


CFOs: Prepare To Become Your Company’s Data Czar This Year

In mid-2018, Tom Bogan was the leader of business planning software company Adaptive Insights as it planned its own next steps. The Palo Alto, CA-based company was on the point of raising about $115 million in a June IPO that would have set its market value at around $705 million, according to PitchBook.But like Dustin Hoffman in “The Graduate,” the big enterprise software company Workday lured Adaptive Insights away from the IPO altar with a more attractive deal—a $1.55 billion acquisition off...
Tags: Deals, Startups, Cloud, Internet, Entrepreneurship, Ipo, Funding, San Francisco, Trends, Tech, Web, It, Excel, Software, Data Science, Innovation


Saxena: More Than a Tool, A.I. Must Be Used With Society in Mind

Manoj Saxena is bullish on artificial intelligence. As chairman of Austin, TX-based A.I. startup CognitiveScale and managing director of The Entrepreneur Fund, which makes investments in early-stage machine learning companies, Saxena believes A.I. can transform how we work and play—creating opportunities for business.But he’s also aware that the technology, if not used carefully, could end up hurting society. He’s one of the founding members of AI Global, an initiative with the goal of promotin...
Tags: Google, Amazon, Startups, Mobile, Cloud, Uber, Apps, Texas, Internet, Big Data, Funding, Trends, Tech, Investment, Web, Analytics