 On Wednesday, the company, based in Southwest Virginia, will announce a $3 million seed round, led by Virginia’s Center for Innovative Technology and The Pearl Fund Limited Partnership with participation from CAV Angels. Micronic is the kind of rare company that is seen as critically important and a possible model for future development. It’s a DeepTech company, led by a woman, emerging from a tiny university on the front lines of one of the biggest economic transformations in the United States, as Appalachia and the country’s energy infrastructure move away from coal.  These VC firms span the D.C., Northern Virginia and Baltimore areas. Whether you're seeking seed funding or raising a Series B, there's probably something here to propel your business. (CIT GAP Funds listed) NOVI’s reconfigurable satellites enable significant reductions in capital cost for constellation deployment  Richmond, VA, Sept. 22, 2020 (GLOBE NEWSWIRE) -- The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has made a follow-on investment in Arlington, Va.-based NOVI, developer of the next generation of hardware and data analytics platforms for the new space, infrastructure and manufacturing verticals. Since CIT’s initial investment in early 2019, the company has accelerated strategic outreach and development on its first commercial technology. The additional capital from GAP Funds will be used to accelerate their commercial go‐to‐market strategy and support key hires. Note: Novi is a 2019 CIT Commonwealth Research Commercialization Fund (CRCF) award recipient.
 Richmond, Va. – Sept. 21, 2020 – The Center for Innovative Technology (CIT) today announced the participation of Investment Directors, Jennifer O’Daniel and Marco Rubin, as selection committee members for Forefront 2020’s Startup Showcase. Forefront, scheduled to take place virtually from Sept. 22-23, will bring together leading capital sources and industry changemakers who are committed to advancing efforts that build inclusive and diverse entrepreneurial ecosystems.
Forefront's review and selection process is an independent process led by MAVA Investor Members. O’Daniel and Rubin took part in selecting the 35 competitive startups to participate in this year’s Startup Showcase on the first day of the event. When: Tuesday, September 22, 2020 from 2:00 PM – 4:00 PM ET Where: For more information about the virtual event, please click here. What: Forefront 2020 Startup Showcase Ultimately, 35 competitively selected startups will take the virtual stage to present in front of professional investors and corporate partners. Showcase Companies represent the strength of commercial enterprises being built across D.C. and the greater National Capital Region and beyond. These startups stood out for the following characteristics:
Who: CIT Investment Directors  “Gritty Frontlines: Authentic Stories on Starting a Company” goes behind the scenes to showcase what it’s really like to build a startup The Center for Innovative Technology (CIT) is proud to share that CIT GAP Funds Senior Investment Director, Marco Rubin, has launched a new podcast series, “Gritty Frontlines: Authentic Stories on Starting a Company”. Along with co-host Erin Pearson, Client Partner at 3Pillar Global, the independent podcast will feature interviews with a wide range of entrepreneurs and founders to showcase the often untold journey of building and growing a company...  Scout, recently rebranded from Eighth Continent Technologies, conducts in-space inspections to extend satellite lifetimes and prevent space debris The Center for Innovative Technology (CIT) today announced that CIT GAP Funds has invested in Alexandria, Va.-based Scout Inc., formerly Eighth Continent Technologies. Scout, provider of non-invasive risk assessments and mitigation services to reduce failures in spaceflight environments, conducts on-site inspections of space assets using small, inexpensive satellites, producing data that saves customers hundreds of millions of dollars. CIT GAP Funds’ investment will help Scout build prototypes, expand the team with critical expertise, and enable growth of industry and government customer acquisition. |
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Updated 10/22/20