RapidSOS tops $1B value with Apax Digital investment
The emergency response app founded by southern Indiana native Michael Martin has raised more than $450 million from investors including BlackRock Inc. and Highland Capital Partners.
Venture Capital
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Checking in with past winners of Rally’s IN-Prize pitch contest, aimed at bringing startups to Indiana
The pitch contest, which comes with the potential for up to $1 million in rewards for each of the winners, returns this week as part of Elevate Ventures’ annual Rally innovation conference.
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Lingering conflict means angst for startup community
Indianapolis-based Elevate, a nonprofit venture investment firm, has been operating under a cloud since late April when state officials froze its funding.
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Q&A: Distressed property broker and Deadhead seeks levity in tough deals
After more than 30 years in the commercial real estate industry, Jon Hardy has launched his own specialized company focused on helping investors acquire properties in need of care.
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Insurance-tech firm Remodel Health raises $100M in growth funding
The firm, which helps employers transition workers to individual health insurance plans, has more than doubled its workforce in the last year and hopes to go on an acquisition spree.
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New Indianapolis venture studio aims to launch 8-12 startups in next few years
Indianapolis-based Alloy Partners says its OneHealth Studio, a venture studio that quietly began operating last month in partnership with Elanco Animal Health Inc., will be ready to create its first startups early next year.
AI tools allow startups to drastically reduce their initial costs
Artificial intelligence is making it less expensive to start and operate a company—and potentially reducing these startups’ reliance on venture funding.
Indianapolis-based Ren Inc. lands big growth investment from Boston-based investor
This is the second large, outside investment secured by Indianapolis-based Ren Inc., which provides technology and services for the philanthropic sector, in recent years.
Carmel-based Spektrum Labs secures $10M seed round
Local tech entrepreneur J.J. Thompson, who sold his previous tech firm, Rook Security, in 2019, is at it again with a new startup, Spektrum Labs.
Carmel tech firm OneCause acquired by Texas-based company
Pre-acquisition, OneCause had just over 200 employees, 119 based in Indiana. CEO Steve Johns, who will leave the company after the transition, said all of OneCause’s employees have retained their jobs.
Software firm opens ‘living lab’ in Carmel as it works to raise first-ever venture investment
Carmel-based software company Alleo, which launched in 2019, opened a space that’s part showroom, part test and demo space for new and existing users of its online collaboration platform.
Loan-related Elevate Ventures questions remain following audit report release
An audit report released Thursday does not address some lingering issues between Elevate and the Indiana Economic Development Corp., including a loan default issue.
Takeaways from the forensic audit of the IEDC, Elevate Ventures and other related entities
The report details findings related to the Indiana Economic Development Corp., the Indiana Economic Development Foundation, the LEAP District, Elevate Ventures and the Applied Research Institute.
As private equity pursues public utilities, reports say BlackRock subsidiary wants to buy AES
BlackRock’s interest in AES represents a growing trend of private equity firms investing in, or buying outright, public utility companies as artificial intelligence fuels increasing electricity demands.
IEDC approves $10M in federal funding to launch Indianapolis venture studio
The Indiana Economic Development Corp. approved $10 million in federal funding for the planned OneHealth Venture Studio, which will operate on Elanco Animal Health’s new Indianapolis campus.
Scott Dorsey to Rally crowd: AI age reminiscent of dawn of the internet, but ‘so much faster’
At the annual Rally innovation conference, High Alpha founder Scott Dorsey joined Colorado-based tech entrepreneur Godard Abel for a chat about who will win—and who will lose—in the age of artificial intelligence.
UPDATE: IEDC board allows Elevate Ventures to continue investment activity
The move came hours after Gov. Mike Braun—whose administration last spring froze funding for the nonprofit—made an unscheduled appearance at Elevate’s Rally innovation conference.
Butler Angel Network aims to give students venture capital experience
Students will actively participate in due diligence, deal sourcing, portfolio analysis and angel investor communication as a way to gain real-world exposure to early-stage investing, the university said.
IEDC deems Elevate Ventures, affiliates in breach of all active loans
The warning comes after the venture development firm defaulted on an angel investment program.
Indianapolis-based software firm Metaimpact lands $5M investment
Metaimpact, a software company led by longtime local tech executive Scott McCorkle, has now raised $45 million since its launch in December 2018.
Report: Indiana tech venture capital activity lower in first half of 2025, mirroring national trends
Nationally, $23 billion was raised through May, according to PitchBook, far less than the forecasted $90 billion.
Marketing tech startup Backstroke lands $2.8M investment
Indianapolis-based marketing tech startup Backstroke Inc. has raised a total of $4.8 million in outside investment since its launch in 2024.
Fishers-based Robosource scores funding from Tim Tebow’s investment firm
Robosource is set to launch its first software product, a tool called Process Coach, in October with help from the round of investment funding.
Lilly, Purdue Strategic Ventures invest in AI-assisted remote lab platform built for speedier research and development
Persist AI announced a $12 million Series A funding round to support its new Cloud Lab platform, allowing companies to use its lab remotely for research and development.