The round, which consisted of debt and convertible notes, was oversubscribed; the company was originally seeking $500,000, according to CEO Shannon Kinney. Read more »
News
Fast-growing STARC Systems to double manufacturing capacity
The plan comes after a 45% rise in sales in 2018, along with expansion across 47 states, Canada and Australia. Read more »
Ocean Approved raises $2M on plans to reinvent seaweed for a retail consumer
Ocean Approved’s equity raise was made on a pitch to create what essentially equates to a new consumer packaged good product category—fresh, frozen kelp. Read more »
CLYNK’s Vanderhoof targets 20% annual growth for the tech-driven recycling firm
"My target is 20% revenue growth a year. The reality of this business is it grows in steps, so we moved to New York with Hannaford, which allowed us to double our footprint to 100 Hannaford stores. That move was in 2016, and it took us two years to roll out all the stores." said Vanderhoof. Read more »
Eel aquaculture business gets approval to build facility in midcoast town
American Unagi buys elvers, or young eels, from local harvesters. Read more »
Maine Technology Institute Releases Annual Report
$57 Million in Awards Issued to Maine Companies. More than 5,350 Jobs to be Created, $1.4 Billion in Economic Impact to Be Generated Read more »
Maine Technology Institute (MTI) Issues Request for Proposals for Emerging Technology Challenge for Maine’s Forest Resources
MTI will award up to $1.5 million in grants to challenge winners, for one or more projects. Read more »
Cape Elizabeth native returns to Maine to open largest Luke’s Lobster
The 200-seat restaurant being built on Portland Pier will be one of the area's largest eateries. Read more »
Portland tech firm receives $2M grant from joint U.S.-Israeli foundation for clean energy project
The grant proposals were approved by both the U.S. Department of Energy (DOE) and Israel’s Minister of Energy. Read more »
Portland startup helps colleges reduce student ‘melt’ rates by using technology to combat isolation
Nearpeer, which was founded in 2017, claims its summer 2018 rollout at the University of Maine in Orono helped reduce melt by 16% and increase first-year tuition revenue by $500,000. Read more »