Technology And Innovation at the Forefront of Economic Development in Central Ohio
There has been a lot of buzz this year for startups, corporate innovation, and the work Rev1 is doing. We’ve rounded up the biggest news of the last few months to keep you in the know as we race to the end of the year!
Technology Startups Create Solutions and Jobs
Move to PROSPER, a three-year program that makes affordable rental housing to single moms has chosen SureImpact, a Columbus- based software company, to measure MTP’s impact in the community. MTP aims to improve the life outcomes for children and mothers through rental support and to coach for mothers to gain stability. This partnership will simplify Move to PROSPER’s process of understanding and communicating the impact data to community donors and stakeholders to demonstrate its value.
Champ Titles makes vehicle title transfers and registration easy, low-cost, and effective by digitizing the process from start to end. Champ announced the closure of a $12.9 MM series B investment bringing Champ Title’s total funding to over $30 MM.
ConverSight, an artificial intelligence, and adaptative analytics company, provide businesses with real-time data for better decision-making. The recent partnership with mySibi, a B2B online marketplace for food ingredients, will optimize inventory by analyzing buying patterns and planning to meet customer’s current needs.
“It includes a whole host of capabilities and services for drivers – safety alerts, cloud storage and sharing, roadside and gas discounts,” said Rashid, Driver Technologies CEO. Driver Technologies announced the launch of their premium dash cam app in July after completing a $10 MM Series A investment round led by IA Capital with participation from Rev1.
“No matter where you are, you should have access to delivery,” says Amanda Epp, ScriptDrop CEO. With partnerships with Roadies, a UPS subsidiary, and Uber, ScriptDrop reaches patients across the U.S. within hours by utilizing its technological and medical expertise.
Healthcare Startups Expand their Impact
“Technology is revolutionizing healthcare, which is an industry that is long overdue for innovation. Redi.Health is helping simplify an extremely complex industry so patients can take more control of their healthcare journey.” said Refinery Managing Partner Tim Schiegel.
Redi.Health, a leading provider of health management systems for patients, has raised $3.7MM in a funding round led by Refinery ventures with participation from MCP, Rev1 Ventures, and M25. This funding allows Redi.Health to expand its company size to meet the growing patient demands.
Eikonoklastes Therapeutics, a preclinical gene biotech company, has received the Orphan Drug Designation grant from Food and Drugs Administration (FDA). This critical regulatory milestone validates the data presented in Eikonoklastes’ ongoing gene therapy treatment trial for neurodegenerative diseases like Amyotrophic Lateral Sclerosis (ALS).
Enzee Health, a leading cloud-based platform that helps measure compliance and quality across personnel and departments to assist hospitals to provide better patient care, announced it has secured $1.5MM in seed financing led by Rev1 Ventures. This platform allows Enzee Health to expand its employment size and availability to the healthcare systems.
Rev1 Ventures Increases Impact Through Partnerships and Grant Initiatives
“Innovation is at the forefront of our mission, so we are eager to work with Rev1 Ventures to identify, invest and nurture disruptive technologies that enhance Worthington’s growth and deliver new solutions to the markets we serve,” said Andy Rose, president & CEO of Worthington Industries.
Worthington Industries, a global diversified metals manufacturing company, based in Columbus, Ohio plans to spend $10 MM with Rev1’s help to invest in entrepreneurs and technologies that align with its vision and mission. Rev1’s strategic services and expertise will aid Worthington in accelerating advancements in sustainability technology, smart manufacturing, and more.
“Our proven approach with Rev1 enables us to react to changing conditions and take advantage of emerging capabilities that transform nearly every aspect of the insurance value chain,” said Grange Insurance VP, Innovation Officer Brent Hammer. G-Force is an exciting collaboration that has enabled Grange to identify and develop new insurance products furthering its capabilities in innovation.
Rev1 Ventures launched the Diversity, Equity & Inclusion Grant Fund to support underrepresented small business and startup entrepreneurs. This $600,000 fund will foster the growth of six tech-enabled companies from the Columbus region. The first $100K grant recipients were Fleri, ColorCoded Labs, and Equitek, all minority-owned startups.
Rev1 Ventures was approved for more than $11.7MM in a grant from the Ohio Third Frontier program to be used between 2023 and 2025. This will expand Rev1’s vision in furthering the mission to breed successful startups in the Midwest ecosystem.
Rev1’s Startup Studio is busy this season with a buzz from startups looking to pioneer in various industries, from real estate and cybersecurity to technology-enabled real-life implementations in the environment and public safety. Three of the startups – Cocoon Technologies, Level 6 Cybersecurity, and Aquacare – focus on security and protection, while two other startups prioritize health and wellness. The final two companies focus on technology-driven solutions in the surgical supply chain and real estate industries.
Rev1’s Innovation Internship Program provides students with opportunities to learn and innovate. In the last two years, over 215 students have filled 342 placements in fast-paced and impactful companies. Along with internship placements, Rev1 is expanding this program to include mentoring that will aid students in personal development and networking.
Students can check for opportunities here.
“It has been a strategy of partnerships, of the assets in our backyard to fund the startup community here,” says Tom Walker, Rev1 CEO and Founder.