Ten ‘techstar’ entrepreneurs pitch their start-up ideas in Portland

(From Portland Press Herald) Ten “techstar” entrepreneurs recently pitched start-up ideas as part of the Roux Institute Techstars Accelerator program, which provides 10 companies a year with seed funding and access to its network of investors and mentors. Governor Mills told the program graduates that Maine is ready to help those who choose to stay in the state, including support from organizations such as MTI. Read more »

HighByte raises $3.5M seed round with industrial software product

(From Maine Startups Insider) Industrial software company, HighByte, recently closed a seed round that will fuel its next phase of growth. The $3.5 million of new capital will be primarily allocated across R&D, sales, marketing, and customer success. MTI invested in early R&D and software development and continues to partner with the Portland-based company to fund new innovations. Read more »

Lyman-Morse teams with Silicon Valley startup to build electric powerboat

(From Mainebiz) Custom yacht builder, Lyman-Morse Boatbuilding, has partnered with a San Francisco business to build an all-electric vessel. Investments and support from MTI have helped the Thomaston-based company modernize its fabrication workshop, test new construction methods, reduce waste, and increase the efficiency of boatbuilding operations. Read more »

MedRhythms adds $2M and new investors to VC funding round

(From Mainebiz) Digital health startup, MedRhythms, has added $2M from investors Global Brain and Bose Ventures to its latest round of venture capital funding. The additional funding brings the total to $27M and will be used to accelerate development of the digital therapeutics pipeline. MTI played a significant role in the growth and development of the Portland-based company. Read more »