Center for Innovative Technology (CIT)

​​CIT would like to acknowledge and congratulate the Commonwealth Commercialization Fund (CCF) awardees & the CIT GAP Funds portfolio companies who made the DCINNO 50 on Fire List 2021

"It’s time, once again, to single out the Greater Washington companies, investors and players who are setting its startup ecosystem ablaze.
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That’s right. We’re unveiling the 50 winners of the Washington Business Journal and DC Inno Fire Awards of 2021. The honorees range from nascent to mature, across industry and geography within the DMV..."

​SCOUT is building the first in-space observation systems to safeguard orbital infrastructure

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
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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

​Startup app re-imagines job platforms, instantly connecting qualified talent with employers in retail and restaurant industries

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

Richmond, VA, April 29, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Hampton, Va.-based Advanced Aircraft Company (AAC), an aeronautical engineering and aircraft manufacturing company that produces vertical takeoff and landing (VTOL) unmanned aerial systems (UAS) for military and commercial markets. AAC’s long endurance drones can double revenue generated per pilot for commercial UAS operators. The company will use this investment to action on its go-to-market plan and increase aircraft production rate.

​Startup empowers commercial real estate stakeholders to organize, secure, analyze, and share commercial floor plans all in one place

​Richmond, VA, April 07, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Virginia-based Floorwire, developer of a platform that provides commercial owners with control of their architectural data. By transforming inefficient and time-consuming workflows around storing and organizing data, Floorwire’s cloud-based solution addresses the needs of commercial landlords, architects and brokers. The startup will use this investment to enhance its technology and support its continued growth.

“Not everyone has the right tools to view CAD files or interact with architectural plans and data. With an ability to connect across a diverse set of asset management platforms and enable automation that’s not currently available on the market, Floorwire provides tools anywhere, anytime,” said Jen O’Daniel, Investment Director, CIT GAP Funds. “Floorwire is quickly growing and ready to make a splash in the commercial real estate industry. We look forward to following their journey as they continue to grow.”

​The cybersecurity firm took note of national VC trends as it sought funding to quicken product development and grow its engineering team. It plans to grow by 25 to 30% in the next year.

​Company’s OneLynk platform provides end-to-end business processes and real-time analytics for government contractors

​Richmond, VA, March 16, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Herndon, Va.-based AtWork Systems, developer of a fully integrated, complete back office business solution for SMB government contractors. AtWork's OneLynk platform provides end-to-end business processes and real-time analytics, allowing business owners to focus on growing their organizations. The company will use this investment to support growth and continued technology enhancements.

Additional funding supports company’s continued expansion into senior living and healthcare facilities

​Richmond, Va. – March 11, 2021 – The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Charlottesville, Va.-based Babylon Micro-Farms, provider of a software enabled indoor farming service. Since GAP Funds’ initial investment in 2019, Babylon Micro-Farms has pivoted to focus on indoor growing systems for hospitals, senior living communities, and schools as a result of the coronavirus pandemic. The company will use this additional funding to continue its expansion into more locations in Virginia and across the East Coast.     

​From restaurant ordering platforms Tock and Slice to dining innovators like Panera, Chipotle, and White Castle, these companies are feeding the industry with innovation.

We are so excited to share with you that Kamana has officially joined forces with one of the nation’s leading healthcare staffing agencies, Triage Staffing.

​A Richmond-based startup company that operates an online platform to help counsel parents of children with autism has raised $1.8 million to expand its services.

AnswersNow, which was founded in 2017, announced Tuesday that it had completed the seed funding round led by the American Family Insurance Institute for Corporate and Social Impact and Virginia’s Center for Innovative Technology.

​As a result of the recent growth, Fringe has raised $2.2 million in new funding, in a round led by Sovereign’s Capital, with participation from Felton Group, Manchester Story, the Center for Innovative Technology, and angel investors, including Jaffray Woodriff. As part of this investment, the company also added longtime advisor William Boland, Senior Director of Corporate Development and Strategy at Mission Lane, to its Board of Directors.

​AnswersNow recently closed a Seed Round of $1.8M lead by American Family Insurance Institute for Corporate and Social Impact and CIT with participation from Kapor Capital, Trolley Ventures, and K-Street Capital. Funds from the round are being used to fuel expansion plans, hire world class clinical talent to guide the efficacy of the services being delivered and guide marketing strategy to raise awareness of AnswersNow virtual ABA services.

​Services for both dealerships and consumers improve the car buying process, making it more cost effective and convenient

Richmond, VA, Feb. 17, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Richmond, Va.-based Sweetie Boy Delivers, provider of services that help easily transport vehicles from one location to the next for dealerships and consumers. Sweetie Boy Delivers will use this investment to expand its sales and development teams to meet the needs of the ever-changing transportation industry, which has many pain points.​

​A family of funds managed by the Center for Innovative Technology has invested about $1.8 million into Richmond-area startups in recent years.

Through partnerships with Richmond-area groups like Lighthouse Labs, Trolley Ventures, 1717 Innovation Center, Virginia Commonwealth University and Startup Virginia, CIT GAP Funds is “actively cultivating a growing pipeline,” said Managing Director Tom Weithman. 

RICHMOND--Governor Ralph Northam today announced that Babylon Micro-Farms, a Virginia-based company that develops and produces remotely controlled, indoor hydroponic systems for growing fresh herbs, vegetables, and salad greens, will invest $140,000 to expand operations and relocate to the City of Richmond. Babylon’s new location in Scott’s Addition will enable the company to expand its capabilities in manufacturing, software development, and research and development so it can begin distributing nationally and internationally. Virginia successfully competed with Arizona and California for the project, which will create 24 new jobs.
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“We are thrilled to celebrate the growth of innovative Virginia businesses like Babylon Micro-Farms,” said Governor Northam. “The company’s dynamic, high-tech systems are helping to address food insecurity during the pandemic and getting fresh, local produce into the hands of more people. This expansion demonstrates the success that entrepreneurs can find in our Commonwealth, while also maintaining a strong commitment to environmental sustainability.”

Babylon Micro-Farms is a CIT GAP Funds Portfolio Company and a CIT Commonwealth Research Commercialization Fund (CRCF) Awardee FY20 | The Babylon CRCF award, along with CIT GAP funding, is a prime example of how our programs work together to help sustain companies through the difficult first stages of the commercialization process. Sustainable urban agriculture technologies are among the most critical emerging technologies in the nation today, and thanks to Babylon, Virginia will play an essential role in the future of farming.

​Cloud-based dust accumulation monitoring system will help prevent fires and explosions in manufacturing, industrial and agricultural processing facilities

​Richmond, VA, Jan. 14, 2021 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that Virginia Founders Fund (VFF) has invested in Williamsburg, Va.-based Industrial Intelligence, developer of a continuous dust accumulation monitoring system. Industrial Intelligence’s solution alerts organization operations when dust accumulation levels become unacceptable. The startup plans to use this VFF capital for engineering and development of their prototype, patent expenses and further certification testing.

​"Investments in an operating business like Micronic are countering early signals that opportunity funds are focused only on real estate deals." | ImpactAlpha, Nov. 4 – Virginia-based Micronic Technologies raised $3 million for its water purification technology. The Center for Innovative Technology’s CIT GAP Funds and The Pearl Fund led the investment, with participation from CAV Angels.