(From Mainebiz) Animal health technology and services company, Covetrus, is making organizational changes overseas to help fortify its business in the U.K. and Germany. MTI provided early-stage and ongoing support to the Portland-based company. Read more »
(From The Print) MTI portfolio company, Ai Highway, is in the final winners list of PHCTech Challenge 2021! Following a rigorous selection process, 17 groundbreaking innovations from across the globe with the most potential to create significant impact in public health have been selected as winners. Congratulations!
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(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 »
(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 »
(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 »
(From Mainebiz) MTI has established a grant program to distribute $10 million in federal funds to help Maine's forestry businesses recover from the pandemic's economic toll. Funding for the Forestry Recovery Initiative (FRI) comes through the American Rescue Plan. Read more »
(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 »
(From Portland Press Herald) Belfast-based, GO Lab Inc. is preparing to launch a wood fiber insulation manufacturing operation at the former Madison mill, employing approximately 120 people. Funding sources include MTI, CEI, FAME, and private investors. Read more »
(From Mainebiz) Caron Engineering announced a partnership with Nashua, N.H., startup Datanomix. Caron develops advanced sensor and monitoring technology for CNC machines that interface with controls to automate manufacturing processes. The Wells-based company received early-stage funding as well as ongoing support from MTI. Read more »
(From News Center Maine) MTI will administer $20 million in federal funds to forestry businesses as part of the Maine Jobs and Recovery Plan. Read more »