Chimani Leverages Mobile App Gamification to Get More People Outdoors

(From Chimani has partnered with Nikon and Aramark to help Americans discover new destinations. A leading developer of mobile apps for the travel and recreation industry, the company is rolling out a new version of its gamification app which features expanded content including state parks, national forests, and wildlife refuges. Chimani is an MTI portfolio company.
Read more »

Falmouth tech firm partners with global counterpart to reach more lenders

(From Mainebiz) MTI portfolio company, Constant Energy Capital Management Inc., plans to partner with Florida-based payment systems company ACI Worldwide (NASDAQ: ACIW). Constant is a financial technology firm in Falmouth that specializes in self-service loan management software. The partnership is expected to allow lenders to increase loan volumes, streamline their collection processes, drive revenue and lower service costs. Read more »

Defendify raises $3.35M in new financing round

(From Maine Startups Insider) Cybersecurity software startup, Defendify, recently closed a $3.35 million funding round to help accelerate go-to-market strategies, product development, and team expansion. MTI is an investor in the Portland-based company. Read more »

Brunswick rocket maker advances full-scale biofuel engine, with new fundraising round on tap

(From Mainebiz) Brunswick-based, buShift Aerospace is entering a phase of rapid engine testing to optimize the performance, thrust and efficiency of MAREVL, its carbon-neutral, biofuel powered rocket engine. The company has also opened a new equity crowdfunding campaign. bluShift plans to create over 50 aerospace jobs in the next 5 years and bring revenue into Maine. MTI has provided ongoing support to the company. Read more »

Madawaska’s Twin Rivers Paper plant secures $100M in financing

(From Mainebiz) MTI portfolio company, Twin Rivers Paper Co. recently procured $100M to refinance debt and provide working capital. The integrated paper company produces paper for packaging, publishing, technical specialties, and more. It also produces dimensional lumber. Over 1,400 people in two countries and seven communities are employed by the business. Read more »