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StartVirginia: Oct. 2022 Heard around Virginia
When Russia invaded Ukraine in February, Astraea Inc., a geospatial analytics startup based in Charlottesville, spearheaded an effort to provide free satellite imagery that could be used by Ukraine’s Ministry of Defense, as well as civilians and humanitarian organizations. The company’s platform allows users to see and analyze images of any location on the planet […]
Evermade Foods to expand Fauquier County operations
Warrenton-based Evermade Foods is investing $110,000 to expand its manufacturing operations and add 46 jobs, Gov. Glenn Youngkin announced Monday. Evermade Foods is a co-manufacturer of prepared meals sold under private labels at grocery stores and through meal subscription services. The company has invested $1.7 million in building upgrades, machinery and tools to its 12,000-square-foot […[...]
Apex Systems co-founder gives $500,000 to Va. Tech
Virginia Tech’s Apex Center for Entrepreneurs has received a $500,000 donation from Apex Systems co-founder Win Sheridan. A 1994 Tech graduate with bachelor’s degrees in political science and English with a minor in business administration, Sheridan made the donation to help the Apex Center engage with student entrepreneurs through programing, networking and funding, according to [&hel[...]
StartVirginia: Hopewell businesses get boost from pitch contest
Jonathan Montiel and his business partners, Phillip and Lexi Hughes, bought a building in downtown Hopewell and asked community members what they needed. Their answer: more restaurants. That’s how City Point Ice Cream & Burgers was born, and the trio think it’s also why they won the $15,000 first prize in the Homegrown for Hopewell […]
All businesses great and small
There are 32.5 million small businesses in the United States, employing more than 61 million people and making up a staggering 99.9% of the nation’s businesses, according to the U.S. Small Business Administration. As business journalists, though, we tend to focus almost exclusively on the larger businesses that reap bigger profits and make bigger news. […]
No myth
Last year, Lori Stacy found herself leading a unicorn. The CEO of Norfolk-based Trader Interactive, an online marketplace for boats, recreational vehicles, motorcycles and other niche vehicles, Stacy helped shepherd the company through its June acquisition by Australian auto retailer carsales.com Ltd. The Australian company paid $624 million for 49% of the business in August […]
Regional biz mentorship program jump-starts startups
Ruth Rau started her business as a hobby. Now, seven years later, her Winchester-based toy company — Mouse Loves Pig — is on track to generate revenue in six figures. The entrepreneur‘s toys for babies and young children are sold in more than 250 stores in nine countries, and she’s partnered with a manufacturing company […]
STARTVIRGINIA: HEARD AROUND VIRGINIA
Booz Allen Hamilton Inc. has formed a $100 million corporate venture capital arm, the McLean-based Fortune 500 global management consultancy announced in mid-July. Named Booz Allen Ventures LLC, the arm will invest in early-stage companies and technologies across four categories: defense, artificial intelligence/machine learning, cybersecurity and deep technology. Booz Allen Ventures will help the[...]
Hopewell businesses get boost after pitch competiton
Jonathan Montiel and his business partners Phillip and Lexi Hughes bought a building in downtown Hopewell and then asked community members what they needed. Their answer: more restaurants. That’s how City Point Ice Cream & Burgers was born, and it’s why the trio think they won the $15,000 first prize in the Homegrown for Hopewell […]
Booz Allen Hamilton launches $100M VC fund
Booz Allen Hamilton Inc. has formed a $100 million corporate venture capital arm, the McLean-based Fortune 500 global management consultancy announced Wednesday. Named Booz Allen Ventures LLC, the arm will invest in early-stage companies and technologies across four categories: defense, artificial intelligence/machine learning, cybersecurity and deep technology. “We are proud and excited to cont[...]
Carsales.com to fully acquire Trader Interactive
Australian online auto sales forum Carsales.com Ltd. plans to acquire the remaining 51% of Norfolk-based Trader Interactive from Eurozeo and Goldman Sachs Asset Management for $839.14 million, the companies announced this week. Carsales.com bought 49% of Trader Interactive in August 2021 for $624 million and will now own the company in its entirety, funding the […]
Bio-plastics startup wins Lighthouse Labs pitch contest
While pitching to the sharks, entrepreneur Alec Brewer told them, “I do have white powder in my pocket,” before quickly clarifying that it wasn’t an illicit substance: “It’s PHB! It’s PHB!” The co-founder and CEO of Charlottesville-based biodegradable plastics manufacturer Ourobio, Brewer explained that his company makes PHB, or polyhydroxybutyrate, from waste in order to[...]
