Startup Roundup July 2018

Want to find out what’s new with VentureWell early-stage innovator teams? Read the VentureWell Startup Roundup! Each month, we’ll share announcements, accomplishments, and other good news from teams in our community.

July Highlights:

Partnerships & Sales

Dash Partners with BlockCypher and Tradecore in Bid to Expand into Capital Markets
2016 I-Corps team BlockCypher has announced a partnership with Dash, the top digital currency for payments, and Tradecore, a software company that enables brokerages to process hundreds of millions of dollars in payments and streamline onboarding, support, and marketing services. BlockCypher’s architecture makes it easier for companies and users to interact with several cryptocurrencies through one solution.

Capacity LLC Partners with RightHand Robotics to Further Automate Fulfillment Operations
Robotic piece-picking expert RightHand Robotics, a 2014 I-Corps Team, announced a partnership with Capacity LLC, trusted leaders in order fulfillment, e-commerce, and electronic data interchange (EDI). The integration of RightPick technology will begin in Capacity’s New Jersey fulfillment center this year and later expand to its California location, creating a new competitive edge for its clients.

Technology Breakthroughs

Librede : Inc. Receives Patent for Cannabidiolic Acid (CBDA) Production in Yeast
2011 I-Corps team, Librede, a leader in natural cannabinoid biosynthesis, has been granted a new patent for the production of cannabidiolic acid (CBDA) in microorganisms. The patent, Production of Cannabidiolic Acid in Yeast, describes the modification of yeast to produce CBDA from simple feedstocks such as sugar. Cannabidiol has been shown to have a wide range of therapeutic properties, including treatment of epilepsy, for which a CBD-based therapeutic has won recent FDA approval.

Cyrus Biotechnology Launches Immune Epitope Prediction Software
2015 I-Corps team, Cyrus Biotechnology, announced the release of a new immune screening and prediction tool. Customers can now drastically reduce immunogenicity in pre-clinical candidates using the startup’s protein modeling and accelerated drug discovery software,  thereby decreasing the chance of dangerous and costly adverse events during clinical trials.

Accelerators, Incubators, & Fellowships

Bitome is first recipient of new Bayer, MassBio fellowship
Boston-based med-tech start-up, Bitome, was the first company to be selected for the MassConnect fellowship at the German drug giant’s local facility. The 2018 I-Corps team will receive assistance in clinical development, industry regulations, financing and more during the six-month-long fellowship as they finish their seed funding round.

Investments

Digital Health Company Rimidi Closes $6.575M Series A-1 Financing
Rimidi, Inc., an Atlanta, GA-based digital health company and 2014 Stage 3 E-Team, raised $6.575m in Series A-1 financing. The company, who provides software and clinical analytics for chronic disease management, intends to use the funds to accelerate growth and market penetration. Backers included a strategic investment by Eli Lilly and Company, an investment from Turner Investments, and participation from existing investors Cox Enterprises, Village Capital, The Jump Fund, and JAMB Global.

GreenMark Biomedical Raises Seed Investment
GreenMark Biomedical Inc., a healthcare company specializing in minimally invasive technologies and 2017 ASPIRE team, closed its Series Seed Preferred round with $500K in equity investment. The round is led by BlueWater Angel Investment Network (BWA) of Saginaw, MI, though the term sheet allows additional investors to come in up to $1.0 million.

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