2023 was bad for startups, with bankruptcies, lower valuations
It’s been a brutal year for startups, with more companies struggling to raise money and hundreds shutting down altogether, according to new data.
It’s been a brutal year for startups, with more companies struggling to raise money and hundreds shutting down altogether, according to new data.
When an Indiana task force meets this month to discuss future funding for state and local roads, Mayor Joe Hogsett’s administration will face an uphill battle with its proposal to change the funding formula that strongly favors rural areas.
While the homeless population across the city has decreased from its pandemic high of nearly 2,000 people, it has yet to return to the lower levels recorded before the pandemic hit.
The funding amount is one of the largest in recent years for an Indiana-based science startup.
An organization focused on empowering Black residents in Indianapolis has received a huge boost as one of the first recipients of funding through the Indianapolis African American Quality of Life initiatives.
At its peak, the rent-assistance program doled out $7 million in a month. That rate is impossible post-pandemic, so the city must decide how much eviction-prevention assistance is possible.
Indianapolis officials hope an alliance with other central Indiana leaders will finally persuade legislators to either alter the formula or find other ways to provide more infrastructure dollars to densely populated areas.
Indianapolis-based tech startup MetaCX, a High Alpha portfolio company, has attracted more than $30 million in investment since the company’s launch in 2018.
Tourism officials are introducing a campaign they hope will set the stage for a significant funding increase from the General Assembly next year.
Decimal’s software platform helps customers automate and outsource accounting tasks like bookkeeping and payroll. The company has added 30 employees since February.
Local and state officials learned in January that several projects included in plans awarded grants just a month before might now be ineligible because of rules attached to the funding.
Restaurant owners want Congress to replenish the fund, and they want Indiana’s senators to sign on to a proposal that would provide cash to original applicants who were left high and dry.
Indianapolis has put more than $30 million into about 600 grants since 2009, when it launched what’s now called the Violent Crime Prevention Grants Program.
Indianapolis-based Allos Ventures, which invests in early-stage business-to-business software companies in the Midwest, said it plans to start making investments from Allos IV right away.
DriverReach, founded in 2016, offers a platform that makes it easier for customers to hire commercial truck drivers. The company said it plans to use its additional funding on hiring and product research and development.
One Indiana project likely to be expedited as a result is widening interstates 65 and 70 to six lanes the full length and breadth of the state.
MetaCX’s newest round of fundraising brings its total to $31.5 million, including multiple investments from several venture capital organizations.
Filo, which was launched by Indianapolis-based venture studio High Alpha last year, offers an interactive platform for online meetings, gatherings and events.
IntelinAir, which was formed in 2015, said this is its largest round of funding to date. The company moved its headquarters to Indianapolis from Illinois last month.
The Indianapolis Foundation, an affiliate of the Central Indiana Community Foundation, announced Monday it will withhold funds from the Indianapolis Public Library system until it completes a planned climate survey and makes “significant, meaningful and measurable” changes.