January 2024
Virginia Business// December 31, 2023//
Bonumose, a Charlottesville startup specializing in sugar alternatives, has raised $34.68 million in equity funding, according to an October 2023 filing with the Securities and Exchange Commission. The round so far includes 12 investors, and the company is looking to raise as much as $51.63 million in the round. The funding follows $2 million the company raised in 2023 as part of a minority investment agreement with Germany-based Symrise AG. That funding was to go toward increasing sales, production volume and personnel. In 2022, Bonumose built a new lab and manufacturing plant in Charlottesville. It had around 30 employees as of mid-September 2023. (Richmond Inno)
Manassas-based aircraft manufacturer Electra’s EL-2 Goldfinch logged a milestone Nov. 19, 2023, when it completed its first hybrid-electric flight. The Goldfinch, a two-seat prototype of an electric short takeoff and landing (eSTOL) aircraft that the company is developing, took off from Manassas Regional Airport and flew 23 minutes, reaching an altitude of 3,200 feet and covering about 30 miles. Electra has preorders for more than 1,700 aircraft, totaling a $6 billion backlog. On Nov. 29, 2023, Electra announced that Bristow Group, a Texas company that provides helicopter offshore energy transportation and search and rescue services globally, made a deposit for five of its future aircraft. (VirginiaBusiness.com)
Fairfax County announced the winners of its first cohort under its new Fairfax Founders Fund on Nov. 2, 2023. The winners include Anapact, of Alexandria, which makes headgear for boxers and mixed-martial arts fighters; BloomCatch, of Centreville, which aims to fight a labor shortage in gardening by offering digital access to plant care; NearStar Fusion, a clean energy company in Chantilly; Fairfax Station’s Healp, which connects patients with rare conditions with medical providers; and 3D Orthobiologic Solutions, of Herndon, which seeks to 3D print medical and dental devices. The companies receive up to $50,000 in funds. (News release; FFX Now)
Richmond-based accelerator Lighthouse Labs wrapped up its 15th cohort with a demo day on Nov. 1, 2023. Keya Wingfield, Richmond-based chef/influencer and founder of Keya & Co., won the Shark Favorite Award. Keya & Co. creates culturally inspired snack foods using the flavor profiles of India. Kristin Richardson, founder of Richmond-based Sherah, a personal assistant service for moms, took home the Fan Favorite Award. The cohort included eight teams, five of which hail from Virginia. Each startup received $20,000 in equity-free funding, participated in weekly programming, received mentorship and was connected with local partners and investors. (News release)
Rohirrim, a Reston-based artificial intelligence company, has raised $15 million in a Series A funding round led by New York software investment firm Insight Partners. The financing will allow Rohirrim to continue working on its ChatGPT-like tool that helps companies speed the process of bidding on jobs. CEO and founder Steven Aberle said he also intends to accelerate hiring and set up office space for what is now a fully remote company. The company has roughly doubled its headcount over the past year to 30 employees and plans to roughly double again this year. Aberle’s priority is hiring a sales team. (DC Inno)
Goochland indoor farming startup Greenswell Growers named Carl Gupton its new CEO on Nov. 16, 2023. Gupton has served as company president since 2020; he intends to expand the company’s reach and increase its impact on sustainable agriculture. Greenswell Growers, which grows lettuce and other leafy greens, raised $6.92 million in equity and debt in 2023 to expand its greenhouse and triple the size of its operation to 4.2 acres. The company also launched a co-branded product with Ukrop’s Homestyle Foods, which is available at around 90 Kroger stores in the mid-Atlantic region. (Richmond Inno)