FUELING THE FUTURE: CinCor completes $143M round | Fintech IPO | Research grants
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CINCINNATI, OH—CinCor announced the completion of a $143 million Series B financing round. This will support the continued development of a treatment for hypertension, primary aldosteronism and chronic kidney disease. The financing was led by General Atlantic, with participation from new investors Perceptive Advisors, BVF Partners, venBio Partners, Adage Capital Management, Omega Funds, Rock Springs Capital, RTW Investments, Lilly Asia Ventures and Sixty Degree Capital.
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CHARLOTTE, NC—Fintech company AvidXchange is looking to raise up to $506 million in a U.S. initial public offering (IPO), according to a regulatory filing on Monday, that could value the business payments firm at about $4.4 billion.
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COLUMBIA, MO—Researchers at the University of Missouri College of Engineering has received a two-year, approximately $500,000 cybersecurity research grant from the National Security Agency (NSA) to develop a security feature that allows different smart devices to intelligently learn from past cyberattacks while having a minimal need for direct human intervention.
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MICHIGAN—The state of Michigan has been awarded $2 million in federal development grants to three state SmartZones to support programs that fuel innovation and tech-based economic development. The grants were awarded to Troy-based Automation Alley’s Michigan Industry 4.0 Accelerator ($1.3 million), TechTown Detroit ($400,000), and Innovation Marquette Enterprise Corp. ($305,465).
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LOUISVILLE, KY—QSR Automations Inc., a technology developer for the restaurant and hospitality industries, has opened a new global headquarters and tech campus in Jefferson County, KY. QSR made an approximately $10 million investment that will not only create 30 new jobs but also bring in 130 employees who were previously based at other company facilities.
- MANHATTAN, KS—Raj Khosla, Ph.D., the head of Kansas State University’s Department of Agronomy, is co-leading a five-year $10 million USDA National Institute for Food and Agriculture grant. The grant will look at ways farmers can help meet the administration’s 2050 goal to increase food production by 40% while decreasing inputs (chemicals/nutrients) by 50%.
- ST. LOUIS, MO—Biotechnology startup Pluton Biosciences has raised $6.6 million in seed funding to advance its product development efforts. Financing was led by Oakland, CA-based venture capital firm Better Ventures. Other investors include the Grantham Foundation, Fall Line Capital, First In Ventures, Wing Venture Capital and St. Louis-based Yield Lab Institute.