It’s time to catch up on recent fundraising and deal-making news from Wisconsin-based startups and investors. Read on for details.
—Phoenix said it inked a $4 million contract with the US Army to demonstrate neutron-based imaging technologies that could be used to help inspect large, complex munitions, according to a press release. The Madison-area company previously was awarded Army contracts in 2014 and 2016 worth a combined $6.6 million. Read more about Phoenix’s recent business growth in this Xconomy profile from January.
—Polco, a Middleton-based startup developing software to help local governments and other organizations solicit public input on policies and other issues, raised $1.7 million in an equity funding round that could reach $2 million, according to a securities filing. Read more about Polco in this Xconomy story from 2016.
—The Milwaukee Regional Innovation Center, which runs the Milwaukee County Research Park and its tech business incubator, has created a fund to make early-stage investments in Wisconsin companies, BizTimes Media reported. The center put $100,000 into the angel fund and applied for a $100,000 grant from the Wisconsin Economic Development Corp.
—HealthX Ventures is out raising its second venture capital fund with a target of $75 million, according to an SEC filing. The Madison-based firm, which backs digital health startups, raised more than $20 million for its debut fund in 2016. HealthX was founded by Mark Bakken, who previously started Madison-based healthcare consulting firm Nordic Consulting Partners. Read the full story here.
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