SSR - June 7, 2024
As summer heats up, there were fewer funding rounds in this reporting period than last period's high!
This edition covers several rounds, including a data company acquisition in Arkansas and a $70M funding round out of North Carolina.
Louisiana
The Louisiana Economic Development Center (LED) received a second round of federal funding to help startups in Louisiana. The grant funds a program that awards up to $100,000 to Louisiana-based businesses that received federal notice of a Phase I or Phase II SBIR/STTR award after June 15, 2022.
Alabama
Investment in Alabama remains a strong factor in the economy. Genpak celebrated a $22.8 million investment in an Alabama facility, and Coca-Cola announced plans to invest $330 million in a Birmingham location.
Arkansas
Nuqleous of Bentonville closed a deal to acquire Arkansas data analytics firm Shiloh Technologies. Following the acquisition, Nuqleous will have 70 employees to continue software development to solve logistics challenges in the CPG space.
Florida
Congratulations to Fortunafi, a Miami-based RWA/crypto startup, on announcing a $9.5M seed round. Fortunafi secured investments from Shima Capital, Manifold, and the Claure Group, among others.
Kalogon, a leader in intelligent seating solutions, announced a $1.2M seed funding round to expand its product line. Sawmill Angels, M7, SeedFundersOrlando, and additional angel investors led the round.
Check out the 37 companies that presented at the Florida Early Stage Venture Conference last week. The event had an unprecedented turnout, and Boca Raton HelixVM won the grand prize.
Georgia
Congratulations to SmartPM, a project controls company based out of Atlanta, on raising $5.5M in funding for their Series A round.
Industrial materials company Reibus announced $30 million in new financing to enhance its platform and the appointment of Jared Rowe as its new CEO.
Mississippi
Mississippi held its ceremony for the 2023 Gulf Cost Regional Pitch Award. At the ceremony, the organization recognized seven companies that participated in the competition.
North Carolina
Charlotte-based startup Craftom announced it had secured $1.75M in its first funding round. Craftom is a platform that coordinates the B2B buying landscape.
restor3d, a Durham, NC-based company specializing in 3D printed, personalized orthopedic implants, raised $55M in Series A funding and $15M in debt financing for a combined $70M Series A round. Summers Value Partners led the Series A funding, and Trinity Capital led the debt.
South Carolina
PostPilot, a direct mail marketing company based in Spartanburg announce a strategic investment by Summit Investors.
PulManage, a Columbia based testing and remote monitoring company received $250,000 in Seed investment from SC Launch, Inc.
Tennessee
Congratulations to DuckyAI on raising $2.7M in pre-seed funding. Ducky will use the funds to build its AI platform.
And congratulations to RootNote for raising $1.5M to expand its digital services to the public.