Category: Austin (Page 150 of 318)

Chiron Health Raises $2.3 Million

imgres-3Chiron Health, which provides telemedicine healthcare consultation for doctors with patients remotely over the Internet, announced Wednesday it has raised $2.3 million in seed stage funding.

The Austin-based company also released its iPhone and iPad app for patients.

“The telemedicine industry has been experiencing enormous growth over the last 12 months, and video visits are quickly becoming a mainstream form of healthcare delivery,” Andrew O’Hara, Chiron Health’s founder and CEO, said in a news release.

Chiron is working with 20 healthcare providers including Athenahealth. It focuses on helping physician practices.

“We believe that telemedicine should be used as a tool to strengthen the physician-patient relationship,” O’Hara said. “While on-demand telemedicine is good for keeping patients out of the emergency department, the real promise of telemedicine will be realized when patients have easy access to their own healthcare providers.”

Amazon Launches One-Hour Food Delivery in Austin

logo_white_In Austin, Amazon Tuesday announced the launch of its restaurant delivery service for its Prime Now customers.

With the service, customers can get one-hour delivery from Austin restaurants and food trucks including Boteco ATX, Chi’Lantro, Clay Pit, Michi Ramen, Moonshine Patio Bar & Grill, Southside Flying Pizza, Sugar Mama’s Bakeshop, Terry Black’s Barbecue, The Backspace and many more.

With Amazon’s Prime Now mobile app, customers can look up restaurants, browse menus, place orders and track the status. Prime Now is a $99 membership with Amazon that provides perks like streaming video and music, two day free delivery of packages and more.

“Austin is a haven for people who love great music, great weather and great food,” Gus Lopez, general manager, Amazon Restaurants, said in a news release. “That’s a perfect fit with restaurant delivery on Prime Now: we take care of mealtime so our customers have more time for the things they love.”

The Amazon restaurant delivery service is available for 15 Austin zip codes around downtown and the surrounding area. Amazon plans to expand the service to other zip codes in the future.

Participating Austin restaurants include:

100 Pizzitas
416 Bar & Grille
aRoma Italian Kitchen & Bar
Arpeggio Grill
ATX Boudain Hut
Austin Daily Press
Austin’s Habibi
Bacon
Barlata Tapas Bar
Benji’s Cantina
Billie Jean’s Burger Pub
Bombay Dhaba
Boteco ATX
Cazamance
Chi’Lantro
Chinatown
Clay Pit
Conscious Cravings
Cool Beans
Daily Juice Cafe
Delicious Thai
Dock & Roll Diner
Emerald Tavern Games & Cafe
Fat Sal’s Deli
Gus’s World Famous Friend Chicken
Heros Gyros
Il Forte
J. Black’s Feel Good Kitchen & Lounge
Juice Austin
Kesos Taco House
La Cocina de Consuelo
Llama’s Peruvian Creole
Mama V’s Quezzadillaville
Michi Ramen
Mighty Bird
Monkey Nest Coffee
Moonshine Patio Bar & Grill
NO VA Kitchen & Bar
People’s RX
PhoNatic
Pie Plante
Pommes Frites Etc
Rebel Pizza Bar
Republic of Sandwich
Rockaway Beach ATX
Rollin Smoke Barbecue
Royal Jelly
Saffron
Sagra
Sala & Betty
Shawarma Point
Slake Cafe
Snap Kitchen
Southside Flying Pizza
Sugar Mama’s Bakeshop
Taco Flats
Tamale House East
Tea Haus
Terry Black’s Barbecue
The Backspace
The Halal Bros
Thistle Cafe
Way South Philly
Xian Sushi and Noodle

Austin-based Perk.com Buys Viggle of New York

imgres-2Perk.com announced Monday it has signed an asset purchase agreement with New York-based Viggle Inc., a mobile and web-based entertainment marketing platform.

Austin-based Perk will pay 1.5 million common shares, valued at $4.7 million, based on the closing price per Perk share of $4.30 on the Toronto Stock Exchange on Dec. 11th, along with warrants and the assumption of certain of Viggle’s liabilities. Perk is also lending Viggle $1 million prior to the transaction closing.

The board of directors of Perk and Viggle have unanimously approved the deal, which is subject to shareholder and regulatory approval. The deal is expected to close in the first quarter of 2016.

The deal gives Perk the rights to the Viggle name, brand and its Viggle App, a mobile and tablet application that uses incentives to make content consumption and discovery more rewarding for media companies, brands and consumers. And Perk will hire Viggle’s existing sales team and intends to continue operating out of its New York office location.

Launched in 2012, the Viggle App is an advertising platform that works on mobile phones and tablets allowing users to earn rewards by watching TV and listening to music. The Viggle app reported revenues of $4 million for the fiscal first quarter of 2016, ended Sept. 30 and had more than 10 million registered users. The two companies will have a combined user base of more than 20 million registered users.

Three Professor-led Startups Spinning out of UT Austin

By LAURA LOREK
Reporter with Silicon Hills News

NASA's Valkyrie Robot, photo courtesy of NASA

NASA’s Valkyrie Robot, photo courtesy of NASA

At the University of Texas at Austin, professors dream up all kinds of applications that could change the world.

But they’ve also got to teach students and oversee the next generation of inventors and entrepreneurs. So how do they get those ideas out of the classroom and into the commercial market?

That’s where the Center for Innovation at the Cockrell School of Engineering at UT Austin steps in. It helps professor-led startups find funding, partnerships, customers, apply for grants and form companies.

Bob Metcalfe, professor of innovation at UT Austin and Louise Epstein, managing director, run the center. Ben Dyer is an Entrepreneur in Residence. Every month, they host the Professor StARTup Studio to showcase three new companies.

WeWork Austin, the UT Office of Technology Commercialization and the Austin Chamber of Commerce sponsor the invitation-only monthly events.

In a private room at the historic Driskill Hotel last Thursday, about 50 people gathered to drink wine, schmooze and hear presentations from the startups. They included Apptronik, a company that makes robots and exoskeletons, Squarecap, a mobile phone app which engages students in the classroom and Pond Life Technology, which manipulations proteins in algae to create a mosquito insecticide.

Luis Sentis, professor at UT Austin and cofounder of Apptronik, a robotics startup.

Luis Sentis, professor at UT Austin and cofounder of Apptronik, a robotics startup.

The first presenter, Luis Sentis, pitched Apptronik, which creates the guts of NASA’s bipedal humanoid Valkyrie robot. The company has four patents and more pending on its high performance robotic actuators, embedded electronics and real-time control software.

Sentis also leads the Human Centered Robotics Laboratory at UT Austin. And he served as the lead for the DARPA’s Robotics Challenge with NASA Johnson Space Center. He has raised $3.7 million in funding for robotics research through research grants with the Office of Naval Research, NASA, Defense Advanced Research Projects Agency and others, according to his online bio.

“NASA is interested in superhuman strength robots that can go to space and perform complex tasks,” Sentis said.

Sentis and his team moved to NASA’s Johnson Space Center for 18 months to work on the Valkyrie robots. NASA is using his team’s operating system and actuators in the robot’s torso, legs and arms. NASA now has three of the humanoid robots Sentis’ team helped to build.

The Valkyrie robot is being prepped to send on a NASA mission to Mars. The robots can be programmed to work with tools and complete complex tasks like changing out parts or building in space.

“We are focused on making system level, mission ready capable robots,” Sentis said.

The robots also have applications for the military and law enforcement, Sentis said. They can look for survivors in disasters, detect and disarm bombs and more, he said.

In addition to the humanoid robots, Apptronik is creating exoskeletons for applications in the healthcare industry to allow disabled people to walk and move easily without a wheelchair.

Sata Sathasivan, professor at UT Austin and founder of Squarecap.

Sata Sathasivan, professor at UT Austin and founder of Squarecap.

The second presenter, Sata Sathasivan, a senior lecturer who teaches cell and molecular biology courses at UT Austin, founded Squarecap, a personalized learning platform, two years ago.

He started the company to help students graduate.

“I’ve been a teacher at the University of Texas for the last 25 years and I have seen students come with dreams of becoming doctors or engineers or scientists or whatever they want to be but one out of three do not make it to graduate,” Sathasivan said.

His wife is also a teacher in mathematics so this is a conversation they had frequently and they wanted to address, Sathasivan said. Now his son serves as the company’s chief technology officer. They have four full time employees and seven part time employees, all graduates of UT Austin, he said.

Squarecap makes a mobile app that professors use to engage their students through their smartphones, tablets or laptops. The Squarecap app can conduct quizzes, allow students to ask questions anonymously and it gathers data and analytics on student attendance and performance.

Today, 10,000 students at UT Austin use the app, which costs $10 per semester, per student for unlimited classes, Sathasivan said. And for all the professors using Squarecap, the company has 100 percent retention.

“One fourth of the UT Austin undergraduate student population is using the program,” Sathasivan said.

Next year, Squarecap plans to expand to more campuses nationwide and 50,000 students.

“The core area we want to focus on is to help our students succeed and make sure they receive a square cap,” Sathasivan said.

Squarecap has raised funding from angel investors and is looking at raising a Series A round, Sathasivan said.

What is Squarecap? from Squarecap Admin on Vimeo.

The last presenter, David Herrin, a professor of biology at UT Austin, presented Pond Life Technology. The startup won a National Science Foundation Small Business Innovation Research $150,000 Phase I grant this year to use green algal strains to kill mosquitos, which carry West Nile virus.

In the U.S., West Nile virus killed hundreds of people in the last few years, Herrin said. There is no vaccine for the virus so mosquito control is the way to deal with the problem, he said.

Also, controlling West Nile virus reduces the transmission of other disease like Dengue.

Herrin is working to create a product, based on algae, that is more effective than chemical pesticides and does less harm to the environment, Herrin said.

In a nutshell, Pond Life Technologies’ mosquito control products consist of its yummy eukaryotic green algae called Chlamydomonas that can swim and reproduce in water. The algae can be sprayed into areas with standing water. Then the mosquitos come along and land on the stuff and eat it up and die.

Herrin is the process of applying for Phase II SBIR grant to provide more research funding. Once that research is complete, the company will apply to the U.S. Environmental Protection agency and complete safety testing trials on its impact on humans and animals.

David Herrin, a professor of biology at UT Austin and founder of Pond Life Technology

David Herrin, a professor of biology at UT Austin and founder of Pond Life Technology

Vendini Acquires Austin-based CrowdTorch

4a8a10fb50d0c3d3cc0389357b295b43Vendini, a San Francisco-based live events company, announced Friday it has acquired CrowdTorch, an Austin-based consumer ticket and live event platform, previously owned by Cvent.

The financial terms of the deal were not disclosed. Its Vendini third acquisition since its founding in 2001. Vendini plans to keep the CrowdTorch ticketing platform and operate it as a wholly owned subsidiary. It also announced the company’s engineering and support teams will join Vendini.

“We are incredibly excited about this acquisition of CrowdTorch,” Vendini CEO Mark Tacchi said in a news release. “This allows us to jump further into the B2C ticketing marketplace, integrate some great technology into our solution and reach deeper into new verticals like clubs and comedy.”

Vendini also has offices in Petaluma, California, Boston, New York, Knoxville, Tennessee and Vancouver, Canada.

TabbedOut Raises Additional $2 Million in Venture Capital

imgres-1-1TabbedOut, a mobile payments app for bars and restaurants, announced Friday it has raised $2 million more in its Series C venture round.

Miami-based Aeterna Capital provided the funds. That increases TabbedOut’s Series C round to $23.5 million.

The other investors include lead investor Wellington Management Company and participating investors NEA and Morgan Creek Capital Management.

TabbedOut originally announced its Series C last June. The company plans to use the funds to expand to 20 planned U.S. metro areas and then launch internationally. Its app is currently being used in 10,000 bars and restaurants.

“We used TabbedOut in Miami and were absolutely floored by it,” Karl Finegan at Aeterna Capital said in a news release. “The company has produced an app that is dead simple to use, allows restaurants to turn tables much faster and removes the typical delay for diners/bar patrons in having to request to close out a tab. The company is also capable of producing extremely useful consumer analytics for bars, restaurants and beverage companies. TabbedOut has the technology and a world class team in place to dominate in the mobile payments space.”

Since its founding in 2009, TabbedOut has raised $41 million in funding.

CBANC Raises $4 Million in Venture Capital

imgres-1CBANC, a network for bank and credit union professionals, announced it has raised $4 million in venture capital funding.

The Austin-based network with 22 employees plans to use the funds to hire new employees, expand membership and launch new products

CBANC founder Hank Seale led the Series B funding with participation from Texas Independent Bancshares, Mike Maples and Adams Street Partners.

In addition to CBANC CEO Bryan Koontz, the CBANC board of directors includes Seale, founder and chairman of CBANC and Q2, Charles Doyle, chairman of Texas Independent Bancshares, Inc. and former director of the Federal Reserve Bank of Dallas, Mike Maples, former EVP of Microsoft and Jeff Diehl, managing partner and head of investments at Adams Street Partners.

“As someone who has been in community banking for 44 years, I look at CBANC and imagine all of the pain points we could have tackled through collaboration with industry peers across the country,” Doyle, CBANC board member and chairman of Texas Independent Bancshares, Inc said in a news release. “The ability to get online and find a contact at a bank similar in size, in a different state or dealing with the same regulatory issues was never an option. That’s what banking professionals are able to do with CBANC. We’re able to take down the walls and make connections that empower community banking to continue and thrive by tackling obstacles together.”

Milken Institute Ranks Austin Fourth Best Performing City in 2015

Photo by John R. Rogers with Viusalist Images in Austin

Photo by John R. Rogers with Viusalist Images in Austin

Austin took the fourth spot in the Milken Institute’s annual Best Performing Cities index for 2015, down two spots from last year.

“Austin-Round Rock, Texas, remains among the Top 5 best-performing large metros at fourth place, slipping from second last year,” according to the report. “It accomplished this feat despite a couple of shocks to its economy—the plunge in oil prices that reduced exploration activity and the high value of the dollar constraining exports of electronic components and computers.”

San Jose, California took the top spot, followed by San Francisco and Provo, Utah.

“More than ever, America’s best-performing cities demonstrate what we call the innovation advantage,” Ross DeVol, chief research officer of the Milken Institute and one of the report’s authors, said in a news release. “That is witnessed not just in ‘traditional’ technology but in the importance of software, social media and even cutting-edge health innovation.”

The Milken Institute’s index ranks cities on growth in employment, wages and technology output. San Jose reported an average annual wage of $116,000, compared to $61,500 for the nation overall. It also attracted nearly $10 billion in venture capital investment, the highest total since 2000, according to the Milken report.

Only three Texas cities, Austin, fourth, Dallas, fifth and San Antonio, 12th, made the top 25 metros this year, compared to seven last year. The decline is a result of the slowdown in the shale oil exploration and the energy economy in Texas, according to the report. California had four metro areas in the top 25 spots.

Younicos Raises $50 Million to Expand its Energy Storage Solutions

imgresYounicos, based in Austin and Berlin, announced Tuesday it has signed agreements for $50 million in venture capital.

The company plans to use the funds to scale sales of its intelligent energy storage solutions.

First Solar, a global provider of solar energy solutions and Grupo ECOs, a sustainable investment-focused private equity firm, invested along with an undisclosed strategic lead investor.

Earlier this year, Younicos moved into new 32,500 square foot Austin headquarters at 3100 Alvin Devane Boulevard is located about ten minutes from Bergstrom International Airport and downtown Austin. In April of 2014, Younicos was the winner bidder to acquire the assets of Xtreme Power, a battery storage maker based in Kyle, in a Chapter 11 liquidation bankruptcy case.

“Utility-scale storage is an exciting new frontier for grid flexibility and modernization that can help to facilitate high penetration of renewables in certain circumstances. Younicos is a true trailblazer in grid-scale storage integration,” Raffi Garabedian, First Solar’s Chief Technology Officer said in a news release. “As the promise of storage continues to evolve, we are eager to understand how it will broaden our own power plant offerings. This is an important investment in continuing and potentially accelerating the shift of our energy landscape to renewables.”

“The signing of this investment round ignites the second stage of our growth plan,” James P. McDougall, CEO of Younicos said in a news release. “Following our successful reorganization at the beginning of the year, our new investors now strengthen us not only financially, but will also help us capture important market segments more rapidly with higher value, products and services.”

Younicos, founded in 2005 in Berlin, Germany, has more than 150 employees in Germany, Kyle and Austin. Younicos makes intelligent storage and grid solutions based on battery technology. It has nearly 100 megawatts installed in more than 20 energy storage projects worldwide.

Austin-based Revionics Buys Marketyze

imgresRevionics, which makes price optimization software for retailers, announced Tuesday that it has acquired Marketyze, based in Tel Aviv, Israel.

The financial terms of the deal were not disclosed.

Onn Manelson and Nave Ronen founded Marketyze in 2011. The company has six employees and offices in Phoenix, Arizona and Tampa, Florida, according to its LinkedIn profile.

“This strategic acquisition will truly provide a distinct advantage for our customers – one vendor with unified solutions that can deliver powerful intelligence across market, competitive and customer data to execute a profitable omni-channel strategy,” Marc H. Hafner, CEO, Revionics said in a news release.

The combination of Revionics’ price optimization software with Marketyze’s competitive analytics platform will help retailers become more profitable, according to Revionics. Its customers will receive real-time price monitoring and analytical insights from one source.

“Retail is at the intersection of business strategy and data science,” Manelson, Marketyze Co-founder and CEO said in a news release. “This combination empowers retailers to adopt a more holistic strategy across all their channels to execute a more seamless pricing, promotion and assortment strategy that will yield stronger profits, customer loyalty and competitive advantage. Retailers also benefit from the speed, scalability and economics of our SaaS delivery model.”

Revionics, based in Austin and founded in 2002, has raised $48.2 million in four rounds from three investors, according to its Crunchbase profile. Revionics has more than 40,000 retail customers worldwide including Dick’s Sporting Goods, eBags and Cabela’s.

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