This first installment of Deal Watch is filled with news shared at today’s Venture Connectors Luncheon, where Lisa Bajorinas of EnterpriseCorp announced Louisville companies who’ve received funding in the last month.
Here’s the recap for December 2014:
Advanced Genomic Technologies qualified for a $500,000 Phase II Small Business Innovation Research award via Health and Human Services. The company is developing a blood test for neurological conditions spanning the spectrum from mild cognitive impairment to full-blown Alzheimer’s disease. They received their Phase I SBIR award of $133,000 in 2013. The business was founded in 2005.
Advanced Energy Materials also qualified for a $483,000 Phase II SBIR award via the National Science Foundation. The company has developed a break-through technology for the bulk production of nanowires used for hydrodesulferization, the process used for removing sulfurs from hydrocarbon fuels. Regulations are continuously lowering the amount a sulfur allowed to be present in transportation fuels. They received their Phase I SBIR award of $150,000 in 2012.
Both companies were developed in partnership with the University of Louisville. SBIR grants are awarded by the Small Business Administration to expedite research and development of tech and health related products that fill certain needs of the United States government.
GroomHQ raised $20,000 in December. GroomHQ went through the Velocity accelerator program in the winter of 2013. It is a web platform that is billed as “your virtual best man.” It helps grooms plan and organize their wedding responsibilities, including researching and putting together the bachelor party and purchasing groomsmen gifts.
In 2014, 43 companies were funded with a $60,068,470 capital raise.