$1.2B invested in Birmingham-based Therapy Brands + more startup news in Alabama
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From new tech accelerator programs to billion-dollar investments, the Alabama tech scene has had a great week. We took a look at four promising stories to learn more.
1. SportAI to set up headquarters in Birmingham’s Innovation Depot
Out-of-state tech company SportAI has plans to set up shop at Birmingham’s Innovation Depot, following a pre-seed funding round that netted the company over $100K. Located in Washington, DC and Madison, WI, SportAI is a mobile app-based company that combines Artificial Intelligence to the fantasy spots world, to help users make the most of their analytics. Currently, SportAI is working their way through Innovation Depot’s 2021 Velicity Accelerator, a program that helps promising startups with best practicies, advice and more from a collection of mentors and industry experts.
2. New York-based KKR & Co. to buy Therapy Brands for $1.2B
Therapy Brands: Website | Facebook | LinkedIn
KKR & Co., an American global investment company based out of New York, recently announced their plans to buy a majority stake in Birmingham-based Therapy Brands. But why Therapy Brands?
In the era of social distancing and virtual meetings, it can be difficult for patients to keep in touch with their preferred therapists. In order to ease the switch to virtual meetings, Therapy Brands helps practicing therapists continue to offer excellent care to their patients.
3. A New Tech Accelerator in Huntsville
Two tech accelerators are teaming up to offer new programs to entrepreneurs in North Alabama. Starting mid-2021, gener8tor and the MidCity Accelerator Foundation, Inc will be offering four annual programs for technology startups in the state.
The partnership will offer three annual gBETA “pre-accelerator” programs and an annual “gener8tor Accelerator Studio” program.
- gener8tor Accelerator Studio: Participants will work closely with gener8tor staff to build, design, launch brand-new products throughout the 16-week program.
- gBETA: Participating startups will receive mentorship from the gBETA team and 25+ mentors, access to an exclusive “Pitch Night” reception, the opportunity to network local entrepreneurs and a ton of additional perks.
4. Innovation Depot Announces Winners of first Voltage Pitch Off
On April 14th, Innovation Depot announced the winners of the first-ever Voltage Pitch Off, part of the tech incubators new Voltage accelerator program. Throughout the nine-week program, participants worked with Voltage staff to transform their ideas into a viable product.
- 1st Place: Rashad Grimes from Dippi, an on-demand alcohol delivery service.
- 2nd Place: Daniel Bolus from Cheers, a text-based local food devilery service.
- 3rd Palce: Maria Underwood from Fundrage, a web browser extition that can help you make positive changes in real time while you read the news.
Click here to learn more about the 11 participating startups in the first Voltage Accelerator.
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