Cronicle has heard from a number of tech companies, startups, VCs and talent across Midwest tech that a sea change is underway. How companies think about finances and investments is changing. No one wants to say we’re in an all-out recession yet, but there is still hesitation over previous growth plans reflecting the uncertainty over…
We are happy to announce Cronicle’s second hire for our content marketing division, where we write blogs and educational content for tech startups and tech-leveraged companies. Meet Tim Busbey, our new VP of Content for Robotics, Business, and Advanced Manufacturing. Tim brings with him a diverse background as a business writer and is an all…
Successful Michigan-based custom software makers Atomic Object have just announced the opening of a fourth office in Raleigh-Durham, 20 years after being founded in Grand Rapids and Ann Arbor. “The Grand Rapids-founded software design and development consultancy has grown into the Ann Arbor, Michigan, and Chicago, Illinois, markets over the past 21 years,” the founders…
Thanks to the generous support and interest of those of you in the Midwest tech community and beyond, Cronicle Press has just hit another milestone: 400 articles covering the growth of Midwest tech hubs like Ann Arbor, Detroit, Columbus and Chicago.
Genomenon, Ann Arbor’s AI-driven genomics company, recently announced closing a $20 million Series B financing round. The funds will help expand the company’s commercial operations and the development of its genomic data hub. The Genomenon data hub works with genetic testing labs, hospitals, and biopharma companies by using artificial intelligence to organize genomic data and make it available to clinicians to diagnose patients with rare genetic diseases and cancer. The goal is to use genomics data to create precision medicine that target molecular drivers of disease.
Cleveland’s North Coast Ventures has raised another $38 million to invest in Midwest startup companies, after investing $60 million in 57 regional companies in the last few years. This VC fund focuses on scalable SaaS companies, so we thought we would profile a few of them for you to show you what firms like NCV are looking for in a software startup.
Columbus, Ohio, has been showing signs for the past few years that it is a growing Midwest tech hub. Why? Like other Midwest cities, Columbus has invested in developing an entrepreneurial ecosystem that can support new businesses. And, like emerging tech and startup hubs Ann Arbor and Detroit, Columbus is building its new entrepreneurial ecosystem around industries that are already strong locally.
Leading biotechnology company Amgen announced recently that it plans to invest $365 million to build a new manufacturing facility in New Albany, Ohio, which is located near new insurtech/healthtech hub Columbus. This move will create 400 new jobs. The facility will feature Amgen’s advanced assembly and product packaging capabilities for medicines to be distributed in the U.S.
Chicago’s rise as a tech hub is still accelerating. According to World Business Chicago, the rapid growth of the Midwest city as a producer of unicorns, or tech startups valued at over $1 billion, has only increased through 2021, with 8 new tech companies being minted as unicorns only halfway through the year, double last year’s count:
Kabir Maiga started at Continental Automotive, where the team he headed as project lead designed keyless entry for cars. “I thought why don’t we extend this tech from car to front door?” he says. “We incubated the idea with Continental, took a team to Germany for several months, trying to figure out how to go to market.” The project was spun off as a separate entity with Continental as an investor. Now, the new Ann Arbor startup PassiveBolt has launched an award-winning technology for home called ShepherdLock.