Wednesday, December 17, 2014

Phononic Raises $44.5 Million in Series D Funding

Phononic, a consumer products company reinventing cooling and heating, has secured $44.5 million in Series D funding. The funds will be used to drive sales of the company's solid state solutions in Cold Products and Electronics Cooling, penetrate new market opportunities and expand manufacturing capacity.

Phononic recently introduced its first-of-its-kind refrigeration product line for laboratories, research centers and medical facilities, complementing its residential commercialization efforts.
Read the full press release here.

Monday, December 8, 2014

Durham's Advanced Animal Diagnostics Closes $15 Million Series C

Durham-based Advanced Animal Diagnostics (AAD) has closed a $15 million Series C round of equity financing, which allows the company to accelerate the commercialization of its current product offering, the QScout® MLD (milk leukocyte differential) test, while also expanding their product line.  

AAD develops on-farm diagnostic technologies that have changed the way livestock producers manage animal health and costly diseases. The company launched its first commercial products, QScout MLD test and QScout Farm Lab, in 2013. Large-scale trials on commercial dairies demonstrated that the technology helped producers prevent milk and reproductive losses, safeguarded animal health through earlier detection and promoted more judicious use of antibiotics.  

QScout® Farm Lab
The financing was co-led by Cultivian Sandbox and Kansas Bioscience Authority, and included Laboratory Corporation of America® Holdings (LabCorp®), Middleland Capital, and existing investors Intersouth Partners, Novartis Venture Funds and private individuals.

Read more about the announcement and AAD, here.

NC IDEA Awards its Fall 2014 Grants to Five NC Companies

NC IDEA has announced that it is awarding nearly $250,000 in grants to five North Carolina startups as part of its 18th cycle of the grant program.   NC IDEA supports business innovation and economic advancement in North Carolina, and since its inception in 2006, the grant program has provided funding to 93 companies across the state, totaling over $3.7 million.

The five winners of the Fall 2014 grant cycle are:

EMPLOYUS – Raleigh, NC

Freebooksy – Carrboro, NC

Mati Energy – Durham, NC

RevBoss – Durham, NC

Upswing – Raleigh, NC

Read more about NC IDEA's announcement here. 

Friday, November 21, 2014

Avalara Brings New Facility to American Tobacco Historic District

Avalara, Inc., is opening a new facility in Durham's American Tobacco Historic District, bringing one of the nation's leading providers of cloud-based software for compliance solutions related to sales tax to the area. According to the founder and CEO of Avalara, this new facility will initially house new sales and customer support personnel, and will give them access to the deep pool of talent in the Raleigh-Durham area.

Avalara will occupy approximately 40,000 square feet in the Diamond View I building and expects to complete their move in the first half of 2015.

Read the full press release here.

Wednesday, November 19, 2014

Automated Insights Partnering to Help Keep Families Connected to Aging Loved Ones

Durham-based Automated Insights has just announced a partnership with mobile health company GreatCall that will help keep families informed about the well being of their aging loved ones with a personalized narrative summary of their week. The GreatCall Link app connects families to their aging relatives by providing critical information in an urgent situation and snapshots of normal daily activities.  These snapshots are delivered through AI's narrative-generating technology, in plain English.
The GreatCall Link app gives family caregivers peace of mind by providing both critical information in an urgent situation and snapshots of normal daily activities.  - See more at:

Read the Washington Post's coverage of the partnership: here.  

Read the GreatCall - Automated Insights Press Release: here.

Infina Connect Named Among CIO Review's 20 Most Promising Healthcare Tech Solution Providers

CIO Review has chosen Infina Connect as one of its 20 Most Promising Healthcare Tech Solution Providers. The honor is based on an assessment of Infina Connect's success in providing cloud-based digital health solutions that address specific problems with healthcare costs, outcomes and risks. To recognize and promote technology entrepreneurship, the publication's annual list of top companies is selected by a panel of experts and members of CIO Review’s editorial board. 
"We've had our eye on Infina for some time now as they've continued to make vast headway in addressing the challenges of healthcare today with first-rate innovative solutions," said Harvi Sachar, Publisher and Founder, CIO Review. "We are excited to feature them this year as they continue to bring about real change in the campaign to lower costs and improve care."
"We're thrilled to be chosen by CIO Review's esteemed panel of experts and key opinion leaders," said Mark Hefner, CEO of Infina Connect. "The results we are helping clients achieve by automating their referral process are very significant, and to be nationally recognized for our vision and success is a true honor."
Read the full press release here.