December 28 - January 11

Lighthouse Labs getting $1 million grant over 2 years from Activation Capital

Lighthouse Labs, a business accelerator in Richmond that offers mentoring to startup companies, is getting $1 million over two years to support its work.

The funding is the single largest grant Lighthouse Labs has received since it was founded in 2013.

Activation Capital, a nonprofit associated with the Virginia Biotechnology Research Park in downtown Richmond, announced the award as the first grant from a $5 million fund that it plans to distribute over five years to organizations that support entrepreneurship in the Richmond area.

Read the entire article here.

Richmond-based machine learning technology firm Notch bought by Capital One
Notch, a technology consulting company founded in Richmond in 2014 that specialized in data engineering and machine learning, has been acquired by Capital One Financial Corp. Read the entire article here.

Richmond software firm raising $2M for restaurant software
DineGigs, a restaurant industry job board and software company launched last year by Richmonder Duncan Parker, has inked a deal for two separate $1 million fundraising rounds led by New York venture capital firm KiwiTech.  Read the entire article here.

Church Hill startup launches insurance platform for freelancers
Born out of family ties to the insurance business, a new local startup is looking to tap into the so-called “gig economy.” Read the entire article here.

The BizSense Crystal Ball: Things to Watch in 2018
Many of Richmond’s startups will get a new home in 2018, as Capital One is wrapping up construction on its 42,000-square-foot Shockoe Bottom incubator, dubbed the 1717 Innovation Center.

The fate of Scott’s Addition-based Evatran may be decided at the end of January. The company, which makes plug-less chargers for electric cars, is set to be taken over by Chinese car parts manufacturer Zhejiang VIE Science & Technology Co. The company hasn’t said what will become of its Richmond employees or its newly minted HQ in the HandCraft building.  Read the entire article here.

Farrell brothers' private equity firm docks another deal
Clay tennis courts, hospital laundry and now, floating docks.

Those are the industry niches targeted thus far by Tuckahoe Holdings, a 2-year-old downtown-based private equity firm run by brothers Peter and Stuart Farrell, the sons of Dominion Energy CEO Tom Farrell.

The company closed its latest deal – its fourth since launching in 2015 – on Dec. 29 with the acquisition of Meeco Sullivan, a New York-based company that builds marinas and floating docks.  Read the entire article here.