SSR - February 21, 2025

Mardi Gras parades are rolling through New Orleans as the city prepares to embrace this vibrant season—and Louisiana isn’t the only Southern state celebrating. Following a successful Super Bowl and the rollout of key new initiatives in the entrepreneurial space, Louisiana certainly has much to celebrate. In this issue, we’re also covering some significant financings throughout the South. As we head into spring, let’s keep the positive momentum going.

Louisiana

While the country had it's eyes on Louisiana played host to the Super Bowl, Louisiana entrepreneurs turned their attention to the Louisiana Economic Development Center's (LED) event the Super Bowl LIX Innovation Day.  At the event, LED revealed a new division and key initiative, Louisiana Innovation. The initiative includes the creation of the Louisiana Growth Fund with $50 million in federal funding, aimed at helping innovators scale businesses across the state.  Additionally, partners like Ochsner, Tulane University, and local incubators will contribute to a total funding pool of $100 million for startups. The first project under LA.IO is the Louisiana Institute for Artificial Intelligence, which will enhance 5,000 small businesses with AI tools. The initiative will also work with the incubators and entrepreneurial programs throughout the state to accelerate innovative ideas in the region. 

Alabama

Congratulations to Nairobi Brown, a University of Alabama student, making waves in both venture capital and maternal health innovation. Selected for a prestigious internship with Halogen Ventures, a women-run VC firm, Brown is gaining valuable experience as the firm plans to invest $10 million in women-owned businesses across Alabama. Her work as Team Lead for Aya Technologies, developing AI-powered fetal monitoring to tackle Alabama's rural maternal health crisis, complements her internship, giving her unique insights into both healthcare innovation and venture funding. The Montgomery Area Chamber of Commerce, in collaboration with Montgomery TechLab and Treble One, has launched the Defense Accelerator. This program will run two cohorts during the 2025-2026 year, selecting five early-stage companies per cohort to participate in an eight-week program focused on scaling products in AI, mobile app development, and cybersecurity for defense and commercial markets.

Arkansas

The 2nd Annual Veteran-Owned Small Business Accelerator kickoff has been rescheduled to March 4th from 11:00 AM – 12:00 PM at The Venture Center. The event will celebrate 10 veteran-owned businesses embarking on this year’s program, recognizing their dedication and ambition as they take the next step in growing and refining their businesses. Hosted in partnership with the U.S. Small Business Administration Arkansas District Office, the Walton Family Foundation, and the Arkansas Economic Development Commission, this free event offers an opportunity to support local veteran entrepreneurs. Space is limited, so be sure to RSVP to attend!

Florida

There are several large financings out of Florida to report on this week. Moderne, a Miami-based software modernization company, raised $30 million to accelerate its AI-driven tools, helping enterprises upgrade legacy systems and drive digital transformation. In youth empowerment, Rocket Youth secured $100 million in funding, with backing from investors including LeBron James' business manager. The funds will help expand its mentorship programs for young entrepreneurs in the sports world. Miami’s Dorsia, a members-only reservation platform for top-tier venues and restaurants, raised $50.4 million to grow its exclusive network and enhance luxury dining experiences. Finally, congrats to Autoket, an AI-driven B2B marketplace for automotive fleet parts, won first place at the PenFed Foundation Pitch Competition, earning $50,000 in grant funding and legal services to support its growth.

Georgia

Voiceworx, an AI-driven digital assistant startup from Atlanta, was recently acquired by Concentrix, a global business process outsourcing company. The acquisition signals the growing importance of AI in enterprise solutions and showcases a trend of consolidation in this rapidly evolving sector. Aetos, another Atlanta-based company, announced a $4 million funding round led by Flyover Capital and Tech Square Ventures. The funds will drive Aetos’ growth as it works towards its 2025 roadmap, aiming to enhance its technology and expand its reach. Finally, Pickleheads, the platform that connects pickleball players, has raised additional investment. The company, serving nearly 1 million players monthly, has evolved from helping people find courts to offering tools that match players based on skill level, marking a significant shift in how the sport is organized. The team has also partnered with major industry players like USA Pickleball.

Mississippi

Check out the Oceans In Action 2025 Workshop in Mississippi! This in-person event will showcase Gulf Coast marine science and technology research that transforms into global missions. Following the success of OCEANS 2023, the workshop will feature presentations from federal agencies, state initiatives, and high-tech companies, with a focus on Advanced Naval Technology Exercise (ANTX) results. Hosted by the Marine Technology Society’s Gulf Coast Section and Mississippi Enterprise for Technology, the event also offers great networking opportunities for marine tech professionals.

North Carolina

Raleigh-based Scale Social AI, an AI-driven marketing platform, joined the Primordial Ventures portfolio after securing an NC IDEA grant. The partnership will help expand its tools for businesses to create branded content using customer stories. In Durham, Quantum Workplace acquired WorkDove, a performance management software company, strengthening its employee engagement platform with enhanced performance management capabilities. Charlotte’s Frenos raised $3.88 million in seed funding, led by DataTribe, to expand its AI-driven operational technology security platform, helping industries assess cybersecurity risks without disrupting operations.

South Carolina

Questis, a Charleston-based FinTech company, raised $3.2 million to expand its personal finance solutions for individuals and businesses.

Meanwhile, Storybutton, an Indian Land-based startup, secured a $250,000 investment from SC Launch Inc., the South Carolina Research Authority's investment affiliate. Storybutton’s platform offers a screen-free way for children to listen to podcasts, bedtime stories, and more, supporting learning and entertainment without mobile phones.

Tennessee

Totem, a Chattanooga-based startup, raised $1.3 million in pre-seed funding to expand its innovative “friend-finding” device, the Totem Compass. This unique tech, designed for events like music festivals, helps people locate their friends in dense crowds without relying on cellular networks or Wi-Fi. With angel investors backing the company, Totem is set to revolutionize how event-goers connect in large crowds. Don't miss Tennessee Innovation Week taking place next week in Nashville. The event will be a key event in 2025, bringing together entrepreneurs, investors, and tech professionals across the state. This initiative is designed to showcase Tennessee’s growing startup ecosystem, fostering collaboration and spotlighting the state’s role in innovation. Comma, a Nashville-based, female-founded integrated period care company, raised $2 million in seed funding. The company launched Sara™, a secure period tracking app that uses personalized science to improve reproductive health and wellness.