Fueling the Future: Medtech, FinTech gets new growth capital, AI for the DOD
- Minnesota medical device firm Preceptis Medical has raised $3.8 million to commercialize its Hummingbird product, which allows doctors to perform ear-tube surgery on kids without general anesthesia.
- Nationwide, an insurtech venture team launched in 2015 in Columbus, OH, is bumping its fund up to $350 million. That’s an increase of three and a half times from its initial outlay. M&A leader Erik Ross says that he sees a boomerang effect coming out of the pandemic for insurance innovation.
- MyUrgencyMD, a telehealth platform that is available 24 hours a day for a flat monthly or yearly fee, has inked a deal with Tennessee State University to provide services to its more than 7,000 students.
- Indiana Innovation Institute (IN3) has received $2.5 million in funding to be used to create and manage a business model that will help accelerate the integration of AI into mission capabilities for the Department of Defense.
- Computer scientists at Case Western Research University in Cleveland are leveraging artificial intelligence to make solar-power plants more efficient. The school received a $750,000 grant for a three-year study from the United States Department of Energy.
- Novosteo Inc., a preclinical-stage biotechnology startup focused on the development of bone-targeted therapeutics, has closed on $5.5 million in Series A financing to advance its development of the first-ever targeted bone anabolic agent NOV004.