Funding will be used to expand services offerings to financial institutions wanting to deliver a superior customer experience and further invest in their communities
Givio Inc, creators of a mobile giving and fundraising platform designed to meet the needs of givers, today opened their first round of seed funding with the closing of an initial investment from the Center for Innovative Technology’s CIT GAP Funds. This funding follows the advancement of Givio’s Minimal Viable Product (MVP) to a feature-rich, charitable giving and fundraising solution, already integrated with multiple service providers in the charitable giving technology and financial services space. Givio plans to use this funding to expand services offerings from nonprofits, schools and companies for workplace giving, to financial institutions wanting to deliver a superior customer experience and further invest in their communities.
June 17, 2021 - By John Furner, CEO and President, Walmart U.S.
In our ongoing effort to get customers the items they want, and fast, we know it will take a well-coordinated network of delivery solutions that span the streets, sidewalks and skies. Some of these solutions are still emerging, but they’re already showing encouraging results.
Last year, we partnered with DroneUp, a nationwide drone services provider, to launch trial deliveries of at-home COVID-19 self-collection kits. The trial demonstrated we could offer customers delivery in minutes versus hours. Now, after safely completing hundreds of drone deliveries from Walmart stores, we’re making an investment in DroneUp to continue our work toward developing a scalable last-mile delivery solution.
February 07, 2019 | CIT GAP Funds Invests in DroneUp to Revolutionize Commercial Drone Pilot Services | ‘Mission Match’ platform tracks pilot certification, experience and guarantees qualified pilots are alerted for matching missions
CIT GAP Funds Invests in OxiWear to Support Innovations and Emergency Alerting for Pulmonary Hypertension
Richmond, VA, June 16, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds, the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, has invested in Arlington, Va.-based OxiWear. Provider of a wearable earpiece that monitors blood oxygen levels, OxiWear’s device alerts users when it falls below safe thresholds, allowing help to be called in time for treatment. OxiWear will use this investment to support growth, conduct further research, and expand relationships with more hospitals and pharmacies.
Ear-wearable device continuously monitors blood oxygen levels and alerts users if it falls below safe thresholds, preventing delays in assistance
“Currently, there is no other device available to continuously monitor oxygen levels. OxiWear is a game changer for those affected by the complications of pulmonary hypertension, and could be the difference between safety and danger,” said Tom Weithman, Managing Director of CIT GAP Funds. “Shavini and her team are in a great position to expand and reach more medical departments, nursing homes and more locations serving patients with PH. We are excited to support OxiWear in their endeavors and lifesaving mission.”
Richmond, Va. – June 11, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds Managing Director, Tom Weithman, and Senior Investment Director, Jen O’Daniel, will present at the upcoming PitchPlus Clinic presented by RAMP, the regional accelerator and mentoring program. The clinic, taking place Tuesday, June 15 at 9:00am EST, will feature a panel of experts providing venture capital education to help participating startups prepare for early-stage investment opportunities.
As the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, CIT GAP Funds is a key part of the Commonwealth's strategy to leverage venture capital for Virginia-based startups. Weithman and O’Daniel will join speakers Greg Feldmann, President of Skyline Capital Strategies, LLC, and Fourd Kemper, Principal at Woods Rogers, PLC. Registration is free and open to the public.
When: Tuesday, June 11, 2021 from 9:00 AM – 12:00 PM EST
Where: Zoom – Click here to register
Startup app re-imagines job platforms, instantly connecting qualified talent with employers in retail and restaurant industries
Richmond, VA, June 10, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds, the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, has invested in Ashburn, Va.-based Capango, developer of a mobile first platform that connects qualified job seekers to work opportunities in the retail and restaurant industries, simplifying the hiring experience for employers with an easy-to-use mobile app - no resume required. The startup will use this investment to support growth plans as they continue to expand and help more employers save time and money by finding the perfect hire for each job.
From left to right: Jackson Ward Collective co-founders Kelli Lemon, Rasheeda Creighton and Melody Short - Courtesy of Jackson Ward Collective - Story By Kaitlynn R. Copinger - June 07, 2021
While some progress has been made in diversifying Richmond's startup ecosystem, Black founders say they still lack access to a crucial piece of the puzzle - capital
"Now that the Richmond ecosystem has been talking about the challenges facing Black and other underrepresented founders for more than a year, what’s changed? And — perhaps more importantly — what work remains?"
"Funding: The Crucial Piece"
"...The Center for Innovative Technology, or CIT, launched the Virginia Founders Fund in 2018 and has since directed more than $3 million toward founder who are women, BIPOC and veterans, as well as those located outside of Northern Virginia.
There are aspirational, strategic and programmatic goals throughout the Fiscal Year 2022 operating plan that are dedicated to furthering our diversity, equity, and inclusion efforts - especially in light of the national conversation about systematic racism,” spokeswoman Sara Poole
Last fall, CIT Gap Funds hosted a roundtable event to bring together BIPOC founders to discuss barriers to forming and funding minority-led startups, a discussion that is expected to yield changes going forward..."
An $800,000 investment led by the Center for Innovative Technology is giving Richmond startup RoundlyX the runway it needs to expand operations internationally.
Richmond-based RoundlyX, co-founded in 2017 by Andrew Elliott and Will Trible, closed the round in late April. In addition to CIT's investment, Elliott said the round had significant participation from Allied Venture Partners and other fintech CEOs from across the country."
“Andrew, Will, and the entire RoundlyX team have done an outstanding job over the last year preparing for widespread adoption of digital assets. The simplicity of their app allows anyone to invest in Bitcoin, and given widespread interest in cryptocurrencies as an asset class, more users will be flocking towards this service,” said Alex Euler, Investment Director, CIT GAP Funds. “With their recent expansion into global markets, RoundlyX is set up for a very successful 2021. We look forward to following their continued success." - Quote from original press release March, 2021
The Virginia Smart Community Testbed in Stafford County will test emerging technologies in real-world settings. The project is a partnership between the county and the Center for Innovative Technology.
STAFFORD, Va.--(BUSINESS WIRE)--Jun 8, 2021--
Mutualink, Inc., in partnership with Stafford County and Virginia’s Center for Innovative Technology ( CIT ), successfully deployed and is powering the state’s first Smart City deployment, the Virginia Smart Community Testbed. Mutualink’s secure, intelligent network is the digital backbone for Smart Cities connecting community partners, smart infrastructure, and sustainable IoT technologies in real-time so community leaders can work together to improve livability, workability and resilience.
Richmond, Va. – June 8, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds, the direct investment program of the Virginia Innovation Partnership Authority (VIPA) Investment Division, has invested in Roanoke, Va.-based Acomhal. The biotech research company is dedicated to developing therapeutic approaches to prevent tumor recurrence. Acomhal will use this investment to continue enhancing their product as well as expanding their research development.
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