Dovly, a Phoenix-based fintech startup, has announced a $3 million bridge funding to help the company support massive growth plans over the next six to 12 months. To date, Dovly has seen significant momentum, with the company reporting year-over-year growth of 800%. The bridge funds will be used to help Dovly keep up with this … Read more
Lucid Motors, the Newark, California-based company that operates a factory in Casa Grande, is on schedule to begin production and deliveries of its debut EVs, like Lucid Air, this year. Bloomberg reported that Lucid CEO Peter Rawlinson told investors on a call Tuesday that “testing and validation of Lucid Air is progressing well” and the … Read more
Tata Consultancy Services (TCS), a leading global IT services, consulting and business solutions company headquartered in India, has announced plans to invest more than $300 million in Arizona by 2026 and hire more than 220 employees here by 2023. The company will also expand the reach of its STEM and Computer Science education programs in … Read more
Last week, Arizona state legislators passed SB 1124, which includes an extension of the Small Business Capital Investment Incentive. The incentive, more commonly known as the angel investor tax credit, encourages investment in early-stage companies and tech startups in Arizona. The tax credit has made a $1.38 billion economic impact over the last six years. … Read more
Todd Belfer is no stranger to risk. In fact, he thrives on it. On Episode 2 of AZ Tech Podcast, Hamid Shojaee and Belfer discuss investing strategies, the stock market and Bitcoin. Belfer also opens up about the wins (and losses) he’s seen in his long investing career. Watch now or listen on Apple Podcasts … Read more
Today the Angel Resource Institute at Willamette University released the Q3 2015 HALO report and software companies are leading the charge for deal flow, with the healthcare sector realizing an increase in overall funding. For number of deals, California blows the country away with 21.1 percent, with the Great Lakes and New England region tying … Read more
Texas-based Cypress Growth Capital made its first Arizona investment at a Tempe-based digital advertising consultant, Genius Monkey. The investment of $2,000,000 was royalty-based. Genius Monkey will use the funding to further develop its artificial intelligence behind its advertising software, according to CEO Clint Ethington. Along with general support of their existing software, Ethington hopes to use … Read more
Synergis Education announced the successful completion of a $5 million Series A2 financing round with Mitsui & Co. (U.S.A.), Inc. (hereafter “Mitsui USA”) a wholly owned subsidiary of Mitsui & Co., Ltd., Tokyo, Japan, one of the most diversified and comprehensive trading, investment and service enterprises in the world. Mitsui USA joins the largest investor … Read more
Is there money in Arizona to fund startups? Well where is it? This was the main question posed at the Phoenix Business Journal’s Tech Titans event Thursday evening to leaders in the sector. According to the Journal’s article “Show Me the Money” Francine Hardaway, co-founder and partner at tech accelerator Stealthmode Partners in Chandler, … Read more
Infusionsoft has been on a tear recently. In 2012 they posted $39 million in revenue and hired 150 new employees, bringing their total employee count to 350. Even more exciting, yesterday, they announced a $54 million venture capital investment from a group led by Goldman Sachs. Infusionsoft is an all-in-one sales and marketing automation … Read more