Batch of startup funding news kicks off Kansas City’s autumn
October 6, 2016 | Bobby Burch
In response to readers’ desire for quick-hitting stories, Startland News is launching a new segment, “News Flash,” to enable more coverage. Let us know what you think!
Fall in Kansas City is off to a solid start for area startups.
Several firms in the metro area have recently raised capital that they hope will accelerate their businesses. Here’s a bit on each deal.
Shoutz Inc. snags $200K
Overland Park-based tech firm Shoutz Inc. recently landed $200,000, according to a filing with the Securities and Exchange Commission. Formerly an Austin-based firm, Shoutz furthered its local footprint after it acquired Leawood-based Front Flip in 2015. Shoutz now develops mobile gaming with consumer engagement and loyalty programs within the retail, media and entertainment industries.
OssiFI Inc. raises $100K
OssiFI Inc. — a spin-out of Kansas City-based biotech firm OsteoGeneX — recently secured $100,000, according to a filing with the Securities and Exchange Commission. The funds will be used for research and development of bone graft substitutes to stimulate fracture repairs and to accelerate a patient’s return to function. OssiFI has raised about $1.9 million to date from such sources as the Binational Industrial Research and Development Foundation, the Kansas Bioscience Authority and other angel investors. OssiFI CEO Debra L. Ellies leads the firm.
Site 1001 scores $5M for building management software
As we reported earlier, Site 1001 raised $5 million to accelerate development and sales of its software to assuage the pain of paperwork associated with building maintenance and management. Kansas City-based JE Dunn led the Series A round in Site 1001, which spun out of the construction giant to digitize and automate facilities maintenance and management.
Mycroft raises $335K for artificial intelligence platform
Mycroft — which developed an open-source, artificial intelligence device similar to Amazon Echo — in September raised $335,000 from Kansas City’s Northland Angel Investor Network and Star Power Partners. CEO Joshua Montgomery said that the firm plans to use the funds to fuel development of the Mycroft platform. The funding also will help the firm fulfill shipments to backers of its Indiegogo campaign for its first device. Learn more about the tech here.
10 startups move to KC to tap their $50,000 LaunchKC grants
Kansas City welcomed nearly a dozen new firms as part of the LaunchKC grants contest. The startups vary from creating medical devices and exercise equipment to software for data analytics and milling operations. Learn more about the companies here. In addition to a $50,000 grant, a winning entrepreneur receives other benefits, including free office space for one year; industry-specific mentors; and professional services, in areas such as legal, financial, and marketing.
KCRise closes on $10M to launch local startup investing
Not all of the recent funding news was generated by startups. The KCRise fund announced in late September the closing of $10 million that will co-invest with institutional venture capital groups in early-stage companies based in the Kansas City area. Launched in February in conjunction with the KC Rising economic initiative, the fund was created as a solution to the regional challenge of accessing capital. The fund aims to grow to $20 million but can now begin investing. For more on the fund, click here.
Dundee Venture Capital targets KC, Midwest with fresh fund
While it hopes to top off the fund at $30 million, Omaha-based Dundee Venture Capital recently closed on $20 million to kick off investing in the region. Dundee partner Beth Engel sat down with Startland News to help explain the ethos of this, the organization’s third fund, and how it plans to target Kansas City.
Featured Business
2016 Startups to Watch
stats here
Related Posts on Startland News
Behind the blooom deal: How Morgan Stanley at Work boosted its robo-advising tech with startup buy, but kept a human touch
Editor’s note: Morgan Stanley is a financial supporter of Startland News. The investment management and financial services company has branches in Leawood and on the Country Club Plaza. Acquisition is scaling blooom’s tech ‘beyond our wildest dreams’ Integrating a Kansas City startup’s tech into its globe-spanning robo-advising portfolio — along with securing a soft landing…
From abandoned artifact to new Negro Leagues’ space: Why renovated Paseo YMCA now bears the name ‘Buck O’Neil’
The Negro Leagues Baseball Museum’s redevelopment of the old Paseo YMCA is nearly complete, according to NLBM President Bob Kendrick, who said the renovated building will help the museum share the history of the Negro Leagues with generations to come. Set to open in late spring or early summer, the Buck O’Neil Education and Research…
Royals say tailgating, plenty of parking planned for year-round downtown ballpark district
As the Kansas City Royals deepen their efforts to bring baseball to downtown, the club aims to call up features fans love most — along with attributes from other ballparks and entertainment districts they don’t yet know they’ve been missing, executives said Tuesday. “We’re committed to creating a truly transformational, world-class ballpark district, one that…
Meet the Midwest’s future serial entrepreneurs: Pipeline reveals 2023 fellowship, Pathfinder cohort
Nearly 30 of the region’s most promising founders now have access to an industry-agnostic network that focuses solely on serial high-growth entrepreneurs — without taking equity in the startups it serves, said Melissa Vincent. Pipeline Entrepreneurs on Tuesday officially announced its new roster of high-profile fellows, as well as members of its latest Pipeline Pathfinder…