Business

Venture capital investment continues to rise in Indiana

INDIANAPOLIS (Inside INdiana Business) — Indiana’s technology initiative says venture capital investment in the Hoosier state saw a big jump in the third quarter. TechPoint’s VC Report says tech VC investment in the quarter totaled more than $76 million from 13 publicly-announced capital raises and five grant awards.

The investments included contributions from 11 out-of-state firms, many of which came from California. Seven Indiana tech companies were also involved in mergers or acquisitions during the quarter.

The biggest third quarter investment came from Zylo, which secured $22.5 million in Series B funding. Chief Executive Officer Eric Christopher told Inside INdiana Business the funding round brings more value to the company than just money; he says the investors behind the funding bring a wealth of experience to help further growth.

Indianapolis-based Springbuk also quietly raised $17 million in a growth round in August, according to TechPoint. Kenzie Academy, a coding school in Indianapolis closed on a $7.8 million Series A round of funding during the quarter as well.

The third quarter numbers build on the first half of the year, which Indianapolis-based Elevate Ventures said in August totaled $151 million. The organization’s report for the first six months of 2019 suggests the state is on pace to exceed the number of VC deals reached the previous year.

You can learn more about the third quarter VC investments and grants from TechPoint by clicking here.

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Colder and quiet rest of the week

INDIANAPOLIS (WISH) – A good 20° swing Wednesday morning with temperatures in the lower to mid 20s this morning with feel-like temperatures in the teens. it will be a clear start then brighter heading through the rest of the morning and the afternoon! Sunshine won’t help us out too much in terms of temperatures today. Daytime highs should warm to the upper 30s. Wednesday night will be a cold one with lows in the lower 20s with a partly cloudy sky.

Thursday will be another cold one with highs struggling to reach 30°. It’ll still be a bright one with a mostly to partly sunny sky. A slow warming trend will start Friday with highs warming to the upper 30s with a mixture of sun and clouds.

This weekend will be split with a chance of showers arriving late in the day Sunday. Highs will continue to warm to the mid-40s Saturday with a partly sunny sky. Clouds return Sunday with showers later in the evening and overnight. Rain will continue through Monday. Tuesday looks to be a dry day for now then showers should return by midweek with highs in the mid 40s.

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