Southeast Shoutouts | Tweener Fund makes 15 investments in Q2
CData Software, a Chapel Hill start-up that helps companies manage their data across different apps and infrastructures, has raised $350 million in growth capital.
From Research Triangle Park, NC:
The Triangle Tweener Fund has announced 15 investments across 12 new companies added to the portfolio in Q2, representing more than $804,000 invested in the quarter. Three were follow-on investments, while a dozen were new companies.
“In Q2, the Triangle start-up ecosystem continued to build momentum,” said Scot Wingo, one of two Tweener Fund General Partners. “We saw a large number of Tweeners raise fresh capital with ‘up rounds,’ a clear sign that investors are increasingly optimistic.”
In a blog post, he noted that 11 were Tweener investments and four were Pre-Tweener investments. The average investment across the 15 companies was $53,666.
From Chapel Hill, NC:
CData Software, a Chapel Hill start-up that helps companies manage their data across different apps and infrastructures, has raised $350 million in growth capital from Warburg Pincus, a leading global growth investor, with participation from Accel. The funding round will allow CData to accelerate its investments in building innovative data integration solutions for customers. Updata Partners, the sole investor in CData’s Series A in 2020 and Series B in 2021, will remain a significant investor.
More than 7,000 organizations, including Office Depot, Holiday Inn, and FedEx, rely on CData to solve their toughest data connectivity challenges. Hundreds of major data management providers and independent software vendors (ISVs), including Google, Salesforce, and Informatica, also embed CData technologies into their platforms to support their customers’ rapidly expanding data integration needs.
To further its mission of simplifying data connectivity for enterprises, users, and applications, CData will continue to invest in operations, product development, and go-to-market strategy.
From Birmingham, AL:
In 2023, gener8tor, a national venture capital firm and operator of start-up accelerators, and Bronze Valley, a Birmingham-based nonprofit venture capital firm that creates opportunities for women and diverse entrepreneurs, the teamed up to launch the “Bronze Valley Investment Accelerator,” an investment-for-equity accelerator focused on investing in and supporting underrepresented start-up founders. Now, the two have taken their collaboration to a new level with the opening of “Tech Row,” a dynamic new workspace for their portfolio companies as well as early stage investors here in downtown Birmingham.
According to a recent article in Bham Now, “Tech Row” is located in the annex previously occupied by Landing, offering more than just flexible workspace for its occupants. There will be high-quality, tailored programming and other services for gener8tor’s eight Alabama accelerator programs as well as support for founders relocating from other markets for short- or long-term periods.
From Houston, TX:
The deadline has been extended through July 21 for the inaugural NOV Supernova Accelerator in collaboration with VentureBuilder, a consulting firm, investor, and accelerator program operator led by a group of Houston innovators. NOV is a provider of oil and gas drilling and production operations equipment.
The five-month program accelerates each participating start-up’s relationship with the company as they get unparalleled access to NOV’s corporate R&D team and business units to test their solutions and develop long-term partnerships, beginning with paid pilot programs. Described as not a traditional start-up accelerator, the program is designed to help disruptive start-ups refine product-market fit and creatively solve our pressing enterprise problems.
The theme-specific program is designed to match start-ups solving pressing needs that are aligned with NOV’s corporate priorities of Data Management and Analytics, Operational Efficiency, HSE Monitoring, Predictive Maintenance, and Digital Twins.
From Charlotte, NC:
City Startup Labs is set to launch a new tech-focused initiative that will bring device repair to communities in need. The new initiative is part of its ReEntry Entrepreneurship Program.
With a $400,000 grant from the North Carolina Department of Information Technology, the Charlotte organization will partner with an Omaha-based organization named iFixAmerica to address Charlotte’s digital divide through its new initiative called ReConnex (ReentryConnections). The program is a device repair retail operation managed and operated by what City Startup Labs describes as “justice-impacted persons.”
“This initiative is something that’s been brewing for a while now, and the idea is to train folks, a small team actually, to receive industry-recognized certifications in digital device repair and also train them in entrepreneurial activities and for them to also learn how to essentially manager and operate a retail business,” Henry Rock, Founder of City Startup Labs, told QCity Metro for this article.
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