Gorham Savings Bank names startup finalists for LaunchPad’s $50K prize
Maine Startups Insider | Maine Startup News
by Whit Richardson
6M ago
Gorham Savings Bank has announced the five finalists who will compete for a $50,000 grand prize at its 10th annual LaunchPad small business pitch competition. Five founders from the selected companies will compete for the non-dilutive grant on Tues., Oct. 24, at the final LaunchPad pitch event, being held at the University of New England’s Innovation Hall, which is part of the school’s Portland campus (RSVP here). Each will be given a few minutes to pitch their business and field questions from a panel of judges before the winner is selected. The finalists are: Bijou Build, Camden,  ..read more
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Climate-tech startup Running Tide delivers first carbon credits, quietly raises another $54M to remove gigatons of carbon from the ocean
Maine Startups Insider | Maine Startup News
by Whit Richardson
6M ago
Running Tide Technologies has been busy. In the past year, the Portland-based climate-tech company has scaled its operations, quadrupled its workforce, deployed a successful pilot project off the coast of Iceland, and even delivered the first carbon credits to a customer. Oh yeah, and it also quietly raised $54 million last year to make it all happen. The company, which emerged from stealth in 2020 with the backing of some big-name VCs and a big, bold plan to use floating kelp farms to remove gigatons of carbon from the atmosphere, published a blog post on Aug. 31 titled, “Killing Godzilla, 10 ..read more
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Pumpspotting, a breastfeeding-support app, raises another $2.2M to fund expansion
Maine Startups Insider | Maine Startup News
by Whit Richardson
6M ago
Pumpspotting, a Kittery-based company offering software and services to support breastfeeding or pumping moms in and out of the workplace, announced earlier this month that it raised $2.2 million to fund its ongoing business development efforts in the retail and healthcare sectors. Sincere Corporation and Maine Venture Fund led the round, which also included Unum Business Ventures and the Maine Technology Institute, according to a news release. The company labeled this financing event as its “Series Seed II” round; the company previously raised $1.15 million in 2021 in an initial seed round le ..read more
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Pumpspotting, a breastfeeding-support app, raises another $2.2M to fund expansion
Maine Startups Insider | Maine Startup News
by Whit Richardson
6M ago
Pumpspotting, a Kittery-based company offering software and services to support breastfeeding or pumping moms in and out of the workplace, announced earlier this month that it raised $2.2 million to fund its ongoing business development efforts in the retail and healthcare sectors. Sincere Corporation and Maine Venture Fund led the round, which also included Unum Business Ventures and the Maine Technology Institute, according to a news release. The company labeled this financing event as its “Series Seed II” round; the company previously raised $1.15 million in 2021 in an initial seed round le ..read more
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Roux Institute picks 10 startups, including 5 from Maine, for next accelerator cohort
Maine Startups Insider | Maine Startup News
by Whit Richardson
6M ago
The Roux Institute at Northeastern University recently announced the 10 startups accepted to its new Founder Residency cohort, an accelerator program focused on serving founders from populations that historically have lacked access to investment and entrepreneurial opportunities. This is the Roux’s fourth Founder Residency since the organization was founded in 2020. The new cohort, which launched this week, includes five startups from Maine, with the rest coming from California, Colorado, Massachusetts, and Chile. The five Maine startups are Chargely, P3RD, Reach My Teach, Small Wins Dashboard ..read more
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MyHealthMath merges with UK company, growth planned in Portland
Maine Startups Insider | Maine Startup News
by Whit Richardson
7M ago
The MyHealthMath team in 2019. Founder and former CEO Bob Watterson is in the back row on the far left. (photo/Kevin Bennett) MyHealthMath, a Portland-based insurance-tech company, has merged with UK-based Sherpa to form a new global business called HYKE that combines their respective products to create a new, comprehensive platform that helps individuals and their employers make more informed decisions around selecting the most cost-effective insurance plans. MyHealthMath, which raised $3.5 million last year, developed a platform that helps people choose the most cost-effective health insuran ..read more
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WEX ventures into EV future with $100M investment fund
Maine Startups Insider | Maine Startup News
by Whit Richardson
7M ago
WEX Venture Capital team (L to R): Jay Dearborn, WEX’s chief strategy officer; David Klein, director of WEX Venture Capital; and Carlos Carriedo, COO International at WEX. WEX, a Portland-based payments-solution provider and one of Maine’s few publicly traded companies, has launched a new corporate venture arm to invest in startups building the critical back-end infrastructure necessary to drive commercial adoption of electric vehicle fleets. The company’s Board of Directors on July 27 green-lit the creation of WEX Venture Capital, authorizing it to invest up to $100 million through 2025 in ea ..read more
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Local food ecommerce platform Forager acquired by Canadian firm
Maine Startups Insider | Maine Startup News
by Whit Richardson
9M ago
David Stone founded Forager in 2014 Forager, the Portland-based startup that built an online marketplace to connect local farms with grocery stores and other retail outlets, on June 21 announced its acquisition by Local Line, a Canadian company with its own sales platform for local farms. The acquisition marks a significant milestone for both companies as they aim to expand their reach and transform the food industry. Details of the transaction were not disclosed. Forager, founded in 2014 by David Stone, has played a role in revitalizing Maine’s local food system, facilitating connections betw ..read more
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Eskuad raises $1.65M in equity financing
Maine Startups Insider | Maine Startup News
by Whit Richardson
9M ago
Max Echeverria, Eskuad founder & CEO Eskuad, a startup with Portland ties that’s built a mobile-first data platform for businesses with employees in field operations, has raised $1.65 million to help it scale. The funding round was led by Outlander VC, a New York-based generalist firm that invests across sectors. Other investors in the round include: Mis Inversiones, a Chilean Family office; Behind Genius Ventures; C2 Ventures; and mentors from Techstars, Start-up Chile, and Tampa Bay Wave participating as angels. The funding also includes a $100,000 grant from Google for Startups the comp ..read more
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Croft wins Dirigo Labs’ pitch contest, $25K
Maine Startups Insider | Maine Startup News
by Whit Richardson
9M ago
Dirigo Labs’ 2023 Pitch Competition Winner, Croft, with staff from Dirigo Labs and Skowhegan Savings Bank. Croft, a Rockland-based eco-friendly building company, won the Dirigo Labs pitch competition and its $25,000 cash prize. The competition, held in early May, was the capstone event for Dirigo Labs, an accelerator program in Waterville that runs a 12-week program that provides startups with a structured curriculum and mentorship from experts in various industries. Croft, one of 11 companies that went through this year’s program, creates high-performance buildings made of all-natural materia ..read more
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