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 »

Thomas College to host statewide business pitch competition

(From centralmaine.com) On November 19, as part of the 5th Annual Central Maine Converge and Create Weekend, one of MTI’s Investment Officers, Tom Kittredge will serve as an industry expert on the panel entitled, “What role does an ecosystem, assistance and funding play in a Startup?” hosted by the Harold Alfond Institute for Business Innovation. Read more »