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Funding

Portland, Maine

Maine Voters Approve $50 Million Research and Development Bond

By | Jul 22, 2017 at 12:45 pm

The $50 million bond to support research, development, and commercialization efforts by Maine businesses has officially passed and been signed by the governor, the Secretary of State’s office announced Wednesday. Maine voters considered the bond issue at a special referendum election on June 13….

Funding

Portland, Maine

Meet 26 Maine Companies That Received Funding from MTI

By | Jul 21, 2017 at 7:15 am

When looking into the Maine startup ecosystem, there are more companies launching each quarter. Looking at the second quarter of 2017, 26 Maine companies, ranging from healthcare IT to manufacturing received funding from the The Maine Technology Institute. One TechStart grant also went to the…

Funding

Portland, Maine

Vets First Choice Raise $223M Led By CD&R and Hillhouse Capital Group

By | Jul 19, 2017 at 5:00 pm

Vets First Choice, the Portland company founded in 2010 to provide online pharmacy services to veterinary practices, has raised nearly a quarter of a billion dollars in new equity financing to fuel an international expansion. The company revealed on Wednesday morning that it had…

Funding

Portland, Maine

Panasonic Partners with Pika Energy to Develop Solar Smart Batteries

By | Jul 18, 2017 at 6:30 pm

In an earlier report, we talked with cofounder of Pika Energy Ben Polito about his thoughts on raising venture capital money, and there’s more on the way. Pika Energy in Westbrook has raised $2 million in a convertible debt round, according to a filing…

Interviews

Portland, Maine

Taking VC Money Depends on the Goals of the Company

By | Jul 17, 2017 at 5:00 pm

Ben Polito and Joshua Kaufman, friends from their days studying engineering at the Massachusetts Institute of Technology, founded Pika Energy in 2010 in a basement in Gorham with a goal to make backyard, residential-scale wind turbines more affordable and accessible. Seven years later, the…

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Startup

Portland, Maine

The Founder of Vets First Choice Just Won the New England Entrepreneur of the Year Award

By | Jul 16, 2017 at 10:30 am

Ben Shaw, founder and CEO of Vets First Choice in Portland, on Tuesday received the New England Entrepreneur of the Year award from Ernst & Young in the healthcare services category. Shaw has grown Vets First Choice, the startup he founded in 2010 to…

Acquisition

Portland, Maine

Fork Food Lab Acquired by New York-Based Foodworks

By | Jul 14, 2017 at 7:15 am

Fork Food Lab, the food-focused startup incubator in Portland, Maine has been acquired by Foodworks, a New York City-based company that operates two other culinary incubators in the northeast. Neil Spillane and Eric Holstein founded Fork Food Lab last year, officially opening in September…

Funding

Portland, Maine

NBT Solutions Closes Seed Round Led by Maine Venture Fund and CEI Ventures

By | Jul 12, 2017 at 6:30 pm

NBT Solutions, a Portland, Maine-based developer of mapping software, has raised nearly a million dollars to drive growth of their flagship product VETRO FiberMap, a cloud-based broadband mapping and fiber management system for the telecommunications industry. The company closed the seed round of $773,333 from…

Interviews

Portland, Maine

Finding Capital Can Be Just as Hard as Managing it

By | Jul 4, 2017 at 10:30 am

Claudia Raessler considers herself to have stumbled into running her own business. Yet she and her husband Ken haven’t appeared to suffer from the accidental case of entrepreneurialism and ample capital. The husband-and-wife team—Claudia is managing director, while Ken is president—own and operate Maine Dye &…

Drones

Portland, Maine

Raptor Maps Drones Are Helping Farmers Keep Their Crops Healthy

By | Jul 2, 2017 at 12:45 pm

In early 2015, Nikhil Vadhaykar and some fellow students at the Massachusetts Institute of Technology has an idea for a company that would use drones to help farmers collect real-time, actionable data about their crops. Vadhavkar, who’s now 28, was pursuing a PhD in…

Interviews

Portland, Maine

Every Entrepreneur Should Be Prepared for Failure

By | Jun 30, 2017 at 7:15 am

Jamie Nonni’s entrepreneurial story is one of perseverance. He’s taken big risks that have paid off. But he’s also experienced failure, including a bankruptcy that forced him to rebuild his business. But the experience has paid off. Today, Nonni is CEO of not one, but two…

Funding

Portland, Maine

Maine’s Startup Certify Acquired by K1 Investment Management in $100M Deal

By | Jun 20, 2017 at 5:40 pm

Certify LLC, the Portland company founded in 2008 that offers cloud-based expense management software, has been acquired by K1 Investment Management, a Los Angeles-based private equity firm, in a deal worth $100 million. Bob Neveu, Certify’s cofounder and CEO, told Maine Startups Insider that…

Interviews

Portland, Maine

Getting Ahead of Your Legal Affairs Is the Key to Startup Success

By | Jun 20, 2017 at 12:20 pm

Every lawyer will tell you, it’s cheaper to hire them on the front end when you launch and get your business affairs in order than when stuff goes wrong or you’re playing catch up to protect your entity. For founders, taking a proactive approach…

Interviews

New York

Peter Roper of Google on Meeting Customers in the Moment

By | Jun 16, 2017 at 6:30 pm

As more customers begin to rely their phone for news, daily tasks, shopping, communication and more, brands are going to have to adjust their mobile strategy to get noticed and build customer loyalty. Peter Roper, Head of Mobile Brand Strategy at Google, helps brands tell…

Interviews

Portland, Maine

This Founder Knew When it Was Time to Step Down and Let Go

By | Jun 16, 2017 at 7:15 am

David Stone has lived the big-company corporate life and the startup life. There’s no contest. He prefers the latter. Stone has been involved in eight or nine startups in senior roles, though he only founded or co-founded three of those—Sports Rewards Systems in 2002,…

Interviews

Portland, Maine

How One Founder Went From VC to Green Tech Startup

By | Jun 15, 2017 at 8:30 am

Each week, I interview a startup founder in Maine to learn more about their background, lessons learned, advice for founders and their technology. This time we’re talking with Clayton Kyle, CEO of Clynk, the bottle and can redemption business and garbage tech. As CEO…

Interviews

Los Angeles

Sabin Lomac of Cousins Maine Lobster on How They Prepared for Shark Tank

By | Jun 9, 2017 at 11:30 am

For kids growing up in the northeast, summertime meant backyard barbecues with a picnic table filled with buttery corn, grilled food and ample hot lobster. Cofounders of Cousins Maine Lobster Sabin Lomac and Jim Tselikis wanted to share their Maine tradition of delicious cuisines to…