movement of money is a column that charts technology company funding across the region. Any tips? Email us at [email protected].
Virginia has $230 million in federal funding for small businesses
Virginia will receive more than $230 million in federal funding for its small businesses.
Of the $230 million, $57 million will go to Virginia’s Small Business Finance Authority for distribution. Virginia Innovation Partners Corporation, a state funding agency, will receive $173 million to distribute to local startups, small businesses and organizations through three programs.
The funds are part of the Treasury Department’s expanded State Small Business Credit Initiative in the U.S. Relief Plan. In total, the initiative has awarded $10 billion to states across the United States and has awarded $6.3 billion to date. Maryland awarded him $198 million through the program earlier this year, and her $62 million filed by DC is still pending approval.
AWS has funding for sustainable NoVa startups
Amazon Web Services (AWS), headquartered in Herndon, Virginia, has launched a new community grant program for sustainability-focused individuals, nonprofits, schools, community groups, and more.
The AWS InCommunities Sustainability Fund has $300,000 available to entities in Virginia’s Prince William, Loudoun, Fairfax, Culpeper, and Fauquier counties. The fund will be managed by ChangeX. AWS would like to provide grants to 30 projects in Northern Virginia.
Grants up to $10,000 are available for new or existing community projects with sustainability and environmental stewardship themes. This includes agricultural protection, cultural heritage protection, sustainable technology, energy reduction and conservation, green food, zero waste, etc. In addition, applicants can apply for funding to introduce one of seven existing community programs to communities around the world.
Applications are being accepted now through February 13th, and applicants will be scored on positive community impact and fundraising criteria. If selected, they will complete her 30-day challenge for their idea.
MarginEdge Raises $45 Million
MarginEdge, an Arlington-based restaurant tech company, has raised $45 million in Series C funding led by Ten Coves Capital. Fiserv, Derive Ventures, and other previous company investors also participated in the round. The new funding will bring the company to a total of $70 million.
MarginEdge has developed a technology platform for processing invoice processing, inventory management, recipe analysis, budgeting, performance tracking and supplier invoice payments.
“Our North Star has always empowered operators with technology and real-time data to make more informed decisions and get them back to the part of their job they love.” CEO and co-founder Bo Davis said in a statement. “Given the current environment and all that the restaurant community has had to navigate in recent years, this mission has never been more important.”
Others with money on the move include:
- Arlington’s fellow Second Front Systems also had a successful week, raising $32 million in Series A funding. Moore Strategic Ventures and AEI HorizonX co-led the round, with participation from ARTIS Ventures, 8VC, Gula Tech Adventures, Abstract Ventures and Pallas Ventures. , Gainels, Kleiner Perkins — all previous investors in the startup.
- Arlington Capital Partners, a DC private equity firm, is selling Octo, a government tech company in Reston, Virginia, to IBM for an undisclosed amount. Octo now has about 1,500 employees and Arlington Capital oversees his four acquisitions by Octo.
- Washington, D.C.-based wellness marketplace SoHookd has raised $1.35 million in debt, according to Securities and Exchange Commission filings.
- Acacia Group, an investment management group based in Tysons, Virginia, has acquired Isos Technology of Arizona for an undisclosed amount.
- Empower AI, formerly known as NCI Information Systems, has won a one-year mission order in support of the U.S. Army. His annual contract totals $14 million, with an option for a one-year extension.
- Thanks to a $50 million growth investment from Metalmark Capital, Germantown, Maryland biotechnology company Orgenesis will open a subsidiary, Morgensis, in Baltimore, Maryland. The investment is based on his $125 million valuation, and Morgensis will receive an upfront payment of $30 million, followed by a $10 million investment he will receive in two installments.
- Alexandria, Virginia-based agricultural technology company Agrology has raised funding in a private seed round led by Active Impact Investments. Skyview Ventures and Phoenix Venture Partners also participated in the round.
- Alexandria affiliate TransVoyant, which works for govtech, has raised $2.95 million in an equity round, according to SEC filings.
- Chicago, Illinois private equity firm Sheridan Capital Partners has acquired an ownership interest in DC’s ADVI Health. Terms of the deal were not disclosed.
- CareFirst BlueCross BlueShield has invested $8 million in 19 DMV organizations. Funds from the grant will be used to address the mental health impact of COVID-19. The DC area companies that have received funding are:
- Maryland Public Defense Lawyers Association
- Centro Hispano de Frederic
- sasha bruce youth work
- Support and mentor youth advocates and leaders
- young women’s project
- whitman walker health
- Arlington Free Clinic
- Pathway Homes
- Route to housing DC