Happy Thursday! This is GrepBeat staff writer Suzanne back in your inboxes while Pete is on vacation.
There's just one more day until the weekend commences and alongside it many Fourth of July festivities. But that doesn't mean the tech news stops. Today we have an action-packed newsletter and a few features we think you should take a look at. (Since I wrote them, I might be a little biased).
Defying the Odds
As many are probably aware, there is a huge funding gap when it comes to venture capital going to women and minority founders. One particularly jarring and depressing fact: women founders only receive around 2 percent of VC funding nationally. But that doesn't mean there aren't women living in the Triangle who defied those odds and brought in successful VC rounds for their startups. I talked to three of them. What was their strategy? What greater obstacles do they think women face when they approach (usually white, male) investors? What advice could they give to other women?
Hear it all from Tiny Earth ToysFounder Rachael Classi, Little Otter Health CEO Rebecca Egger and Instant Teams Founder Liza Rodewald in our feature story today.
Innovate Carolina
Next year, East Rosemary Street in Chapel Hill might look a little different. That's where UNC's new Innovation Hub is set to be built under the direction of Innovate Carolina. The person spearheading this effort is Sheryl Waddell, Innovate Carolina's newly anointed Director of Economic Development and Innovation Hubs. Waddell had her own entrepreneurial journey before coming to Chapel Hill, all of which we detail in today's profile story. Waddell hopes to bring Chapel Hill to the likes of Raleigh and Durham in terms of entrepreneurial growth, and as a UNC grad, I'm following closely.
Chipmaker in Chatham
Both TBJ and TechWire came out with stories yesterday on North Carolina's state budget proposal, which appears to allocate a sum of $112.5 million to secure a commitment from a semiconductor chip manufacturer for a project in Chatham County.
The details of which exact chipmaker North Carolina is trying to attract is unclear, but the project would bring in at least 1,800 jobs, under the Job Development Investment Grant guidelines.
Protochips
Morrisville-based Protochips was announced as a Triangle Tweener just a few weeks ago. Now the machine vision and AI workflow solution company is making news for a different reason. Protochips has sold two product lines to Electron Microscopy Sciences, C-Flat and Au-flat. Protochips CEO David Nackashi said EMS is best equipped to scale these products for their growing demand, while Protochips will accelerate its efforts in its AXON machine vision platform.
Alongside this news, Protochips has also added two new faces to its board, Sallie Shuping Russell and Jean Davis. Russell comes with experience at Falcon Therapeutics and Intersouth Partners, while Davis formerly led MCNC. TechWire has all the details. (Look out for a GrepBeat feature story on Protochips in the weeks to come!)
Kelp Yarn in the Triangle
Here's to another NYC company relocating to the Triangle. AlgiKnit, whichproduces eco-conscious and renewable kelp yarn, plans to open a 15,000 square-foot headquarters in Morrisville, the startup announced yesterday. AlgiKnit also just closed a $13 million Series A round, following its initial seed round of $2.1 million and bridge round for $2.4 million. The new HQ is sure to bring more jobs to the Triangle, as AlgiKnit already disclosed they are hiring for at least eight positions that will work out of the Morrisville facility. Read TechWire for more.
An Acquisition
Durham-based Kevel, previously known as Adzerk, has announced they've acquired Portuguese firm Velocidi. While financial terms were not released, Kevel said they will add Velocidi's tech, assets and all of its employees to its company. Kevel has made its name as an API infrastructure platform that enables companies to build customized advertising platforms. With Velocidi, Kevel's CEO James Avery said it will be even easier for customers to build new, high-margin revenue streams that do not compromise on user experience or security. This adds to Kevel's growth trajectory since it raised $11 million in 2020 and now employs 110 plus workers. TechWire has the full rundown here.
And Another One!
Joining Kevel on the acquisition news train is Raleigh-based Workplace Options. Workplace Options, which is a "provider of wellbeing solutions for clients across the globe" has purchased Essi Systems' assessment and behavior change tools. Workplace Options CEO Alan King said this acquisition will strengthen the company's suite of digital services so they can benefit clients even more. Workplace Options currently employs more than 375 workers and plans to expand, with more acquisitions potentially underway. Read TechWire for more.
Inclusive Coworking
Raleigh Founded and American Underground are two coworking spaces that will soon have the presence of Harmony, North Carolina's LGBT+ Allied Chamber of Commerce. The dual locations are a step toward Harmony's ultimate vision of creating the nation's first LGBT+ coworking community, potentially coming to the Triangle. For now, all Harmony's staff and board can access the Raleigh Founded and American Underground spaces, and members receive a 25 percent discount for the facilities, TechWire reports.
Build Great Software
Founded by serial entrepreneurs, Dualboot is a business and software development company. Their clients include tech and non-tech founders as well as Fortune 500 companies, so they can start small or scale fast depending on what you need. Every client is assigned a U.S.-based Product Director with at least 10 years experience bringing products to market, and they can manage the entire development process. They focus on how the software fits into your company to drive revenue and build the business. At Dualboot, they don’t just write your software—they help you grow your business. Intrigued? Email them here.
Extra Bit
Earlier this week, we included news about Brightly's acquisition by Siemens. The deal, worth $1.6 billion, means the asset management solution company previously known as Dude Solutions will help Siemens accelerate growth in digital building operations. Today, TechWire came out with a full Q&A with Brightly's CEO Kevin Kemmerer, detailing exactly how the acquisition came about and how it will impact Brightly's office. Read it all here.
To see all posted jobs, go to CronJobs. If you'd like your company to be listed, tell us at cronjobs@grepbeat.com and we'll do our best.
Instead of Where's Pete today, we provide a look into another adventure the GrepBeat team (and mug) has gotten into this week. Joe Colopy, the GrepBeat Godfather, is pictured here outside of the Hallgrimskirkja cathedral in Iceland. Turns out these mugs are becoming quite the globetrotters!
Any news we should know? Hit "reply" or send it to news@grepbeat.com.