StartVirginia: HEARD AROUND VIRGINIA

Arlington County awarded a total of $225,000 in grants to five local startups that are the first to receive grants — of $25,000 to $50,000 apiece — from the county’s Arlington Innovation Fund. The fund supports early-stage tech companies, particularly those owned by women, veterans and minorities, while pushing down office vacancy rates. The five companies are: Dispatchr Technologies, which develops software to reduce energy costs and carbon emissions of power plants; Freely Payments, which aims to cut processing fees when businesses accept credit card payments; GenLogs, an AI company that tracks freight trucks and tractor-trailers; Phalanx AI, a cybersecurity company that helps protect sensitive documents; and Seamless Transition, a medical device company that helps wounded veterans transition from active duty to civilian life. (ARLnow)

Richmond-based insurance startup Buddy Technology raised about $7.2 million from 49 investors in its most recent capital raise, including the cancellation or conversion of about $4.1 million in debt into series seed preferred stock, according to a January SEC filing. Founded in 2017, Buddy provides software to insurance companies as well as its own on-demand accident insurance coverage for outdoor activities. Buddy’s most recent round of funding started in March 2023 and closed in mid-January, according to SEC filings. Buddy investors have included Atypical Ventures, the Center for Innovative Technology (now Virginia Innovation Partnership Corp.), Sequoia Scout Fund, Techstars, and Plug and Play. (VirginiaBusiness.com)

Startup Virginia welcomed its largest-ever Idea Factory cohort — 26 entrepreneurs — for its seven-week spring session, which started March 4 and runs until April 15. The Richmond incubator’s fall cohort will accept applications until Aug. 1, and that session runs from Oct. 7 through Nov. 18. Launched in 2020, the Idea Factory helps participants refine their products and services to connect with customer needs. (News release)

Virginia Commonwealth University’s Office of the Vice President for Research and Innovation has launched its first formal startup accelerator, the university announced March 6. The VCU Startup Accelerator is designed to help faculty launch startups to market their research products. The program includes meetings with entrepreneurs-in-residence, development of customized business strategies and help with funding applications. It culminates with a springtime pitch event that will award cash prizes and additional support to winners. The first projects being developed into startups include: SurgicalED VR, a virtual reality platform for training surgeons; MagnaShield, lightweight materials to protect devices and infrastructure from electromagnetic pulses; NCMNtech, a drug discovery platform; and an at-home calcium monitoring system. (News release)

Arlington private equity firm Washington Harbour Partners has raised more than $20.2 million across two funds focused on making investments relating to artificial intelligence. According to filings with the Securities and Exchange Commission, Washington Harbour, located at 1201 Wilson Blvd. in Rosslyn, raised $17.61 million for its Washington Harbour AI Pilot fund. The firm also raised a separate $2.65 million for its Washington Harbour Maritime AI fund. Both funds marked Dec. 22, 2023, as their first date of sale, which required outside investors to contribute a minimum of $100,000 to participate. (DC Inno)

PEOPLE

Debbie Irwin, former director of Shenandoah Community Capital Fund, became Richmond-based Lighthouse Labs’ new managing director on Feb. 26. Irwin left her role at SCCF, an entrepreneurial support organization in Staunton, where she served for six years, first as director of education and marketing and then as executive director. Before that, she was director of programs and special events for the Greater Augusta Regional Chamber of Commerce. (VirginiaBusiness.com)