Southeast Shoutouts | 10 high-grwoth start-ups join latest FinTech|X Accelerator program
The Tweener Fund invested $778,000 in 19 Triangle start-ups including 11 new companies and eight existing portfolio companies during Q3 of 2024.
From Tampa, FL:
Tampa Bay Wave, Inc. and the University of South Florida’s (USF) Muma College of Business have selected 10 high-growth fintech start-ups to take part in its third FinTech|X Accelerator program.
Fintech refers to the integration of technology into financial services. Online banking systems, crypto exchanges and crowdfunding platforms are all examples of fintech.
The accelerator program represents a multi-year partnership between Tampa Bay Wave and the USF Muma College of Business, with funding provided by the U.S. Economic Development Administration (EDA), Encore Bank, Smiley Technologies and Shumaker, and Loop & Kendrick LLP. It aims at nurturing and propelling fintech start-ups to new heights of success in Tampa Bay and beyond.
Over 90 days, with two in-person weeks taking place at the USF St. Petersburg campus, each start-up will receive unparalleled access to resources, mentorship, connections and guidance from industry veterans, equipping them with the tools necessary to accelerate growth and drive lasting impact.
Click here to learn about the participating start-ups.
From Research Triangle Park, NC:
WRAL TechWire reports that The Tweener Fund invested $778,000 in 19 Triangle start-ups including 11 new companies and eight existing portfolio companies during Q3 of 2024. In its first two years, the Fund has invested more than $8 million in 124 Triangle start-ups. Unlike closed funds, the Tweener Fund is always open for new accredited investors.
“When I started this, I would never have believed we’d have such a big impact both in investment dollars and companies so fast,” said Scot Wingo, Tweener Fund General Partner. “It’s a testament to the Triangle start-up community that has really embraced and amplified what we’re doing.
“In Q3, we saw two interesting trends.” Wingo added. “First, we saw many of our portfolio companies raise ‘up new rounds’. Second, we are seeing a wave of innovative AI (artificial intelligence) start-ups born in the Triangle. Like typical Triangle start-ups, they are solving very specific problems the founders have deep domain knowledge in and looking at building hyper-efficient businesses. Both trends are quite positive developments for the Triangle’s startup ecosystem.”
For the Q3 2024 investments, the data reveals:
- $40,951 average investment;
- $4.8 million average round size; and
- $13.4 million average pre-money valuation
The number of investments by instrument were as follows: Simple Agreement for Future Equity (seven), convertible (four), and priced round (eight).
From Bentonville, AR:
HeartX, powered by HealthTech Arkansas and MedAxiom — along with numerous leading cardiology practices in Arkansas and around the country — has selected four start-up healthcare companies to participate in its 2024 accelerator program, and one of the four calls Tennessee home.
It is Peerbridge Health in Nashville that redefines the diagnostic potential of ambulatory cardiac monitoring. Developed alongside top physicians, the Peerbridge Cor is a unique ambulatory ECG monitor that combines best-in-class signal fidelity with explainable artificial intelligence (AI) to detect heart failure, determine ejection fraction, diagnose sleep apnea, and identify 31 arrhythmias. Merging medical innovation with operational efficiency, Peerbridge delivers unique clinical utility at a fraction of the cost of current monitors. The Cor is approved for reimbursement under standard ECG codes, streamlining adoption for medical institutions.
The other companies selected for the 2024 HeartX program are:
- Caristo, a company based in England that has the Caristo Diagnostics CaRi-Heart® technology, the world’s only solution to detect and quantify hidden coronary inflammation – a key driver of heart attacks – and quantify coronary plaque from routine coronary CT angiography scans.
- Haermonics, a Netherlands-based company that uses patented, proven technology born from the need for simple yet effective solutions to address bleeding-related post-operative challenges. By preventively flushing the pericardial cavity, Haermonics Pure significantly reduces bleeding-related reinterventions, complications, and blood transfusions after cardiac surgery.
- MultiplAI Health, a Maryland-headquartered company, is advancing precision diagnostics with an RNA-based blood test powered by AI to detect subclinical cardiovascular diseases. Using genomic sequencing and AI models, the test delivers cardiologists actionable insights for early detection of atherosclerosis and fatty liver disease.
HeartX is a cardiovascular-focused healthcare accelerator that facilitates guaranteed hospital pilot projects and clinical trials for accomplished, early stage companies bringing new cardiovascular innovations to market.
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