SSR - January 17, 2025
I hope everyone in the community had a safe and happy holiday season and feels refreshed heading into 2025. Reviewing trends and predictions for the new year, Hippopotamus predicts a rebound in valuations. Pitchbook predicts later-stage deals and exits will rebound with expected interest rate cuts. At Southern Startup Report, we're watching the performance of our reporting areas companies, tracking recent legislation changes, and looking at alternative funding sources such as crowdfunding. Let us know what you'll be looking for in 2025, and as always, we'll follow trends throughout the year.
Check out the updated 2025 Events Calendar listing all the major startup events throughout the year..
Louisiana
Congratulations to Wavegate, a Lake Charles-based medical technology company, on announcing a lead investor in their $26 M Series A Funding. Wavegate announced that London-based UCEA Capital Partners Ltd. would back its plans to accelerate technology development. Applications for Opportunity Machine's Spring 2025 Builder Program 1.0, a Louisiana-based accelerator program for idea to seed-stage startups, close today. And mark your calendars for Innovate South 2025 on April 24- 25 - Opportunity Machine's entrepreneurial conference (learn more here).
Alabama
Alabama organizations looking to empower their leaders can register for the inaugural Growth and Innovation Leaders Summit on February 4 at The EDGE in the heart of Tuscaloosa. Speakers include executive leadership from Protective Life, Techstars, Hibbett Inc., and Alabama Power. In addition, a team from Brave New Outpost will be part of the program; their approach combines improv and innovation to help drive higher organizational growth. Learn more about the Summit here.
Arkansas
Two new programs have been launched in Arkansas that companies can take advantage of in 2025. Little Rock, AR-based Forge Institute announced the launch of the Phoenix Xcelerator, a program designed to empower and grow startups across the defense and aerospace sectors. And Startup Junkie is excited to launch a new monthly networking designed to celebrate Fayetteville’s business community. Throughout 2025, each event will celebrate innovation, history, and the area's ongoing growth.
Florida
Congratulations to several Florida companies that announced rounds at the end of 2024 and early 2025. Syncormune Biotech raised $100M Series A to accelerate its cancer treatments. Minus Sugar, a sugar-free juice company, secured $2.5M from BR Angels. FirstAccent Biomedical raised $6M to advance personal cancer treatments. Finally, Attorney Shield completed a $450K crowdfunding campaign.
FloridaCommerce officials announced they are enacting the "Florida Small Business Credit Initiative 2.0." According to a news release, the initiative will make $167 million available for small businesses in Florida. The Business Initiative Credit isn't the only thing Florida companies have to look forward to in the new year. Check out Refresh Miami's investor predictions for 2025 and the "MiamiTech Roadmap" for 2025 to see some innovative ideas on the horizon.
Georgia
There are two big deals to pay attention to in Georgia kicking off the new year. OnPay, an HR and payroll technology company, announced it has raised over $100M in funding. The round includes $63M in Series B funding and a debt facility. Slip Robotics, a company that helps load and unload trucks, announced it had secured $28M in Series B funding. Both rounds will help the companies expand their technology and services in the coming year.
Mississippi
Welcome to the four new members of the Mississippi Enterprise for Technologies Board. The board announced Michael Grasso, Co-Founder and CEO of The Lumber Manufactory, Inc.; Christa Alexander, President and CEO of Arriva, a Fail Family Company; Jimmy Stringer, Director of Government Affairs for Camgian; and Will Todd, President and Founder of Icebreaker Strategies, LLC, as its new members. Mississippi Enterprise Technology will continue its mission to retain talent in Mississippi and develop aerospace innovations.
North Carolina
North Carolina had a lot of funding news to celebrate the closing of 2024 and kick off the new year. Charlotte-based digital banking solution Infinant ended 2024 by securing a $15M Series A round. FINTOP Capital and JAM FINTOP BankTech led the round and featured participation from Raido Capital Partners, Woodforest Financial Group, and Bankers Helping Bankers. NCBiotech announced it had awarded $1.2M in grants and loans to bioscience companies. Meanwhile, M&A got off the ground quickly in the triangle, leading many to speculate that 2025 will be an active year in North Carolina.
South Carolina
Video game developer Pole to Win (PTW) announced a new Charleston location to hire 250 employees. The relocation will expand the city's reputation among large technology companies and help develop technology talent in the area.
Tennessee
InvestTN announced that nine new startups received funding through its programs. The companies - Shappi, Branch Technologies, Bugle, Couture Technologies, MedHaul, Metamorphix, The Whitecoat Learning Platform, Third Person, and Unified Track - come from across the state and various industries. InvestTN also announced its plan to deploy an additional $12M in funding into companies throughout 2025.