(From Maine Startups Insider) Portland-based company, VETRO, recently raised $7M to help accelerate product innovation and global expansion. MTI was an early investor in the developer of cloud-based fiber management software for the telecommunications industry. Read more »
(From Mainebiz) Entrepreneurship for All (EforAll) is a startup accelerator focused on underrepresented entrepreneurs. Participants will receive training and support to start, grow, or sustain a business or nonprofit across a range of industries from professional services to manufacturing and technology. MTI is the program's lead sponsor. Read more »
(From News Center Maine) MTI portfolio company, Biofine Developments Northeast (BDNE) is partnering with the Town of Lincoln to develop a biofuels refinery. BDNE develops alternative fuels derived from wood waste. The Lincoln Town Council voted to approve a 20-plus year lease between the company and the town. Read more »
(From Mainebiz) Ocean Renewable Power Company (ORPC) develops renewable power systems that convert a river's kinetic energy into electricity. ORPC has a number of goals for 2023, including introducing new products to the market and deploying a Modular RivGen® Power System in Millinocket. MTI has been a consistent funder and supporter of the Portland-based company since its inception. Read more »
(From The Lincoln County News) Singing Pastures was recently awarded $215,000 through the federal Value-Added Producer Grant Program which helps rural businesses expand processing, marketing, and sales for value-added products. In addition, the US Small Business Administration named the Newcastle farm “Maine Micro-Enterprise of the Year.” MTI provided Singing Pastures with funding for important market research. Read more »
(From Mainebiz) MedRhythms is a digital health startup that uses sensors, software and music to help restore nervous system function and walking ability. The company recently completed a study which revealed music could enhance the quality of life for Parkinson’s patients. MTI played a significant role in the growth and development of the Portland-based company. Read more »
(From PR Newswire) Running Tide Technologies and Microsoft recently signed a 2-year agreement to remove the equivalent of 12,000 tons of carbon dioxide (C02e) using breakthrough technology. Running Tide's operations and carbon-negative industrial hubs offer cascading benefits for coastal communities and ecosystems, supply chains, and global ocean health. MTI provided the Portland-based company with early-stage funding and SBIR support. Read more »
(From Mainebiz) Good To-Go makes gourmet dehydrated meals for outdoor enthusiasts. The company recently closed on a Series A round of $1M which enabled it to scale its facility and support ongoing growth. The Kittery-based business is currently doing market research and expects to hire additional employees in the coming months. MTI is an investor in the innovative company. Read more »
(From Mainebiz) Maine Cap N’ Stem grows substrates and other supplies for mushroom farms nationwide. The Gardiner-based business has plans to expand to a 75,000-square-foot space in Lewiston. MTI provided funding and support to the company for the development of innovative technologies designed to grow the business and bolster the agriculture sector as a whole. Read more »
(From WMTW) Marin Skincare recently announced their Soothing Hydration Cream is now available to customers at L.L. Bean. Since launching, the company has seen 400% growth year over year, hitting seven figures in sales. MTI provided the startup with initial funding and support. Read more »