Ann Arbor-based renewable energy O&M solutions startup SkySpecs has just announced an $80 million strategic capital raise led by the Sustainable Investing business within Goldman Sachs Asset Management with additional participation from a subsidiary of NextEra Energy Resources and other existing SkySpecs investors including Statkraft Ventures, Equinor Ventures, Evergy Ventures, UL Ventures and Huron River Ventures. This is one of the biggest startup raises in Michigan history.
It’s no secret lumber costs have skyrocketed, which opens the door to new building materials and technologies. Enter Terran Robotics, a Midwest startup funded by the NSF and recently run through the ODX accelerator to use proprietary AI and robotics technology to build modern homes.
Columbus fintech Lower, launched in 2014, has had an amazing year, with nearly 1,000 employees added in 2021 and a Series A round raised of $100 million, a record for the state of Ohio.
In June, Aeroseal, LLC, a climate tech company shrinking carbon emissions from residential and commercial buildings, announced it raised $22 million in funding. The Series A round was led by Breakthrough Energy Ventures (BEV) with participation from Energy Impact Partners and Building Ventures.
Augmented reality startup Spellbound AR, known for its augmented reality games to distract pediatric patients from hospital procedures, has created a new scavenger hunt game called ARISE, to make hospital stays less intimidating for children.
Cybersecurity is a growing concern for businesses of all sizes, from keeping data secure with remote workers, to making sure that all your applications work together in a secure and compliant manner. As part of our sponsored series on cloud security sponsored by Trek10, we put together a Q&A on common questions businesses ask about cybersecurity and how and when to hire cybersecurity staff or outsource to a contractor. We hope this helps you on your road to handling security issues for your team during these changing times.
Despite the pandemic, more startups have launched in Ann Arbor, Michigan, this year alone than we have space to list here. Many Ann Arbor startups have been around for a few years and are now starting to experience rapid growth. Here are 10 growing Ann Arbor tech companies that you really have to watch if you’re looking for a tech job or hoping to invest in Midwest tech startups in 2021. Technologies developed by these startups are central to current trends in remote work and communications, connected vehicle technology, cancer treatment and other biomedical technologies, quantum sensing tech, enterprise data management, government data analysis, wind energy, and food supply chain innovation.
Michigan is emerging like every other state from the haze of the COVID-19 pandemic. As companies and individuals chart a course forward, Cronicle wanted to check on the base of the tech startup pipeline: funding. Patti Glaza and Ara Topouzian have front-row seats to VC funding in Detroit, and in Michigan overall, and were gracious enough to spend an hour talking with us about what they’re seeing in the tech startup space after 2020. We hope that whether you are tech talent, a VC investigating Michigan’s startup space, or a startup founder looking for funding, our conversations with the folks in the venture capital scene help you connect with resources that help you also chart a course forward as the pandemic winds down.
Pocketnest, a new app for next-gen financial wellness used by top credit unions and companies like Cisco and Henry Ford, has experienced explosive growth over the past year after closing its Series A funding round in 2019. The Ann Arbor-based fintech startup was founded by financial advisor Jessica Willis just 12 months ago after realizing there was very little out there in the way of non-transactional financial wellness apps for Gen X and millennials who were looking for technology to ease communication with financial advisors and to glean accessible financial wellness education and advice. Now boasting 8 enterprise clients with 20% user growth month over month and 40% growth month over month from an enterprise standpoint, Pocketnest now works with the top 3 largest credit unions in the United States–Wright-Patt Credit Union, Lake Trust Credit Union, and MSU Federal Credit Union–and growing.
Research labs have been shut down. Small businesses are searching for funding. But it’s not all bad news in the emerging tech hubs of the Midwest. Especially in hard-hit Michigan, the structure is in place to allow some startups to do quite well during challenging times. We went in to a few interviews of Midwest tech companies and startup coaches thinking they would help us pay forward resources to startup founders to get through these hard times. In addition to resources, they had some good news.