News & Notes | Another round of funding for Knoxville company
In other news, Oak Ridge National Laboratory researchers have developed an online resource to help consumers understand the electric vehicle tax credits available through the "Inflation Reduction Act."
Thanks to Brandon Bruce for sharing an article about SmartRIA® with this captivating headline: “The broad spectrum friendship of Brian Hamburger and Shirl Penney now includes sharing most of a $5-million bet into proving that SmartRIA lives up to its straight-A name.” The two – one is a Mainer and the other is a Jersey guy – are re-upping their bets on SmartRIA in a Series A funding round. They also co-led the $2 million seed round with other investors in December 2021.
SmartRIA® was an outgrowth of a capability that Roger Kiger, Chief Manager and Wealth Strategist at Visionary Horizons Wealth Management, developed to support the latter company’s compliance needs as Registered Investment Advisors (RIAs). The start-up began serving the needs of other RIAs soon after Mac Bartine joined in 2016 as Chief Executive Officer.
“Total backing for the Knoxville, Tenn., software (company) that automates the paranoia of eternal SEC (Securities and Exchange Commission) vigilance now stands at about $6.7 million,” according to the article that appeared in RIABiz.
From Other Locations but About a Knoxville-based Program:
Two of the participants in Cohort 2 of the “Techstars Industries of the Future Accelerator” have garnered some visibility after being selected for the program.
- ExLattice is an artificial intelligence (AI) start-up that is developing software for advanced manufacturing, enabling engineers with a 10x more efficient automated digital workflow. In a news release published by InvestorsObserver, Runze Huang, Chief Executive Officer and Co-Founder, says: “”This is a tremendous opportunity for us to connect with industry leaders, gain invaluable insights, and leverage the expertise of the Techstars network to propel our company to new heights. We are excited to be part of a community that shares our vision for the future of AI, manufacturing, and deep tech.” ExLattice is headquartered in Durham, NC and was founded in 2018.
- The San Antonio Business Journal posted an article about Allosense being accepted into Cohort 2, no doubt based on this news release that the start-up posted. “Allosense continues to further mature its hardware and software products in the EV (electric vehicle) market,” said Roman Sandoval, Founder and CEO. “The company’s latest software offering called Dash is a secure data fabric platform that solves a common manufacturing problem.” Just a few weeks ago, the emerging technology start-up that makes advanced sensors and measurement solutions was one of 40 companies selected to pitch at the annual South by Southwest® Conference and Festivals.
From Oak Ridge:
Oak Ridge National Laboratory researchers have developed an online resource to help consumers understand the electric vehicle tax credits available through the “Inflation Reduction Act.” Located on the Department of Energy’s fueleconomy.gov website, the tool shows eligible vehicle models along with the corresponding federal tax credit. The new clean vehicle tax credit is for purchases of all-electric, plug-in hybrid electric, and fuel-cell electric vehicles in 2023 and beyond. A separate credit is available for eligible used vehicles purchased in 2023 or after. Information on credits for vehicles purchased before 2023 is also available on the tool.
From Crossville and Oak Ridge:
Registration is open for the Verizon Innovative Learning STEM Achievers to be held at Roane State Community College’s Crossville and Oak Ridge campuses. It’s a three-week summer enrichment program for students going into 6th, 7th, or 8th grade this fall. The Oak Ridge sessions are June 12-29, and the program will be offered in Crossville July 10-27. To apply, click here.
Built Technologies, one of the fastest-growing construction and real estate fintech software providers in the U.S., has announced the launch of a new business unit focused on commercial property developers. This expansion will enable the development of new, purpose-built solutions designed to address the unique needs of this market. Built’s first product for commercial property developers is set to launch later in 2023. In partnership with highly respected commercial property developers, Built Technologies is creating a configurable, cloud-based solution that will address key market challenges, including funding delays, manual processes, unexpected change orders, and maintaining an accurate view of the budget and forecast. The solution will remove friction and increase transparency and speed, enabling developers to boost productivity, reduce loss, and increase revenue and scalability. To learn more, click here.
From Nashville but with Statewide Implications:
The University of Tennessee’s Center for Industrial Services (UT CIS) is kicking off a research project to better understand how manufacturing leaders across the Volunteer State operate their internal workforce development systems. Specifically, the results of this research will indicate how systems thinking, lean thinking, and concepts that support learning organizations are currently being used. The data will ensure that solutions to improve this critical people development system match the actual needs of manufacturers in Tennessee.
“Since every organization’s system is unique, input from leaders of companies varying in size and across multiple sectors will ensure that the data is more useful,” UT CIS writes in an email. The survey, which takes about five minutes to complete, can be found here.