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StartVirginia: April 2023 Heard around Virginia
Richmond-based Absurd Snacks is ready to enter major retailers after a reformulation and taking on some new packaging. Founders Grace Mittl and Eli Bank worked with a New York agency and redesigned the packaging. Absurd Snacks has been available at independent grocery stores, but Mittl and Bank are eyeing larger retailers and wanted to make […]
McLean startup raises $75M for air taxi network
Fritz Lang’s 1927 film “Metropolis” predicted cities with flying cars, while Hanna-Barbera followed that vision 35 years later with “The Jetsons” and its commuter “skyways.” Now, however, air taxis are close to becoming reality. The industry could generate up to $16 billion in new business investments in Virginia a[...]
Ready for launch
Virginia’s version of the business accelerator doesn’t always rely on the traditional model of sponsorship by angel investors who provide capital for startups, usually in exchange for convertible debt or ownership equity. Here in the commonwealth, “it’s more founder-focused,” and accelerators are often run by nonprofit[...]
Report: Air taxis could land Va. $16B in new biz by 2045
Air taxis could generate up to $16 billion in new business in Virginia and carry as many as 66 million passengers by 2045, according to an economic impact study released Tuesday. The report, commissioned by the Virginia Innovation Partnership Corp. and the state commerce and trade secretary, forecasts short, carbon-free flights[...]
Farmville SEED hub seeks to grow innovation
Luther Cifers launched fishing equipment company YakAttack LLC in 2009 out of his friend’s basement, and he moved to the garage to create prototypes of its gear. Now, he is putting in work so future entrepreneurs will have a dedicated space for their projects. The Farmville SEED Innovation Hub, slated to open in late fall, [&h[...]
StartVirginia: Feb. 2023 Heard around Virginia
Vienna defense contractor Aeyon is continuing a trajectory of growth and expansion with new work for NASA, and it hopes to open the door to work with other agencies. Aeyon’s latest win is through MM Technologies, a joint venture between Aeyon subsidiary Manufacturing Technical Solutions and Tysons-based MDW Associates. It landed a $516.9 million indefinite-delivery/indefinite-quantity […]
757 Angels will partner with VentureSouth
757 Angels, a Hampton Roads angel investment group that matches venture capitalists with local entrepreneurs, is partnering with VentureSouth, one of the largest angel investment networks in the United States. Effective in June, the partnership will provide more access to capital and investors to 757 Angels’ 140 members. Estab[...]
StartVirginia: Jan. 2023 Heard around Virginia
Vienna-based Attune’s indoor air quality sensor is the first North American-made indoor air quality sensor to receive environmental claim validation UL 2905, the company announced Dec. 6, 2022. The validation, from UL Solutions, evaluates sensors for accuracy by measuring multiple air quality parameters, including common pollutants such as total volatile organic compounds, formaldehyde, carbon dioxide […][...]
On your mark
When Virginia Commonwealth University closed its buildings in spring 2020, then-student Julien Reininger wasn’t deterred from his entrepreneurial pursuits. In the kitchen of his parents’ Springfield home, Reininger ran a dehydrator for eight hours at a time, creating vegan jerky from canned jackfruit and developing different[...]
Va. receives $230M for startup, venture capital funding
Virginia has been approved for as much as $230.4 million in federal funds to accelerate startups, the U.S. Department of Treasury announced Tuesday. The money comes from the Treasury’s State Small Business Credit Initiative (SSBCI). Virginia will operate five programs, including two loan participation, one loan guarantee and two equity/venture capital programs. Loan programs include […][...]
For the record December 2022
Central Henrico County-based Altria Group Inc. announced Oct. 27 that it is partnering with Japan Tobacco Group to sell heated tobacco products in the U.S. and worldwide, placing Altria in direct competition with Juul Labs Inc. and Philip Morris International Inc. The $150 million deal will include marketing of heated tobacco products in the United […]
AWS boosts women-led startups
Nessle co-founder and CEO Carly Buxton and her chief technology officer have passed up salaries and dipped into their savings to keep the Richmond-based tech business running since its 2019 launch. The Nessle platform connects new parents with real-time tailored support. To keep Nessle running, Buxton applied for grants and part[...]
