Startup Maine Stories

Venture capital-backed companies across the U.S. last year raised nearly $130 billion, up 14% from the 2019 total and setting a record high despite the economic downturn. But VC investment in Maine companies nose-dived during 2020, according to a new report by consulting firms PwC and CB Insights.

Snowmobilers generate about $600 million a year for Maine's economy, with about a third of them coming from out of state. Now a Thomas College student thinks Maine can do more to attract out-of-state snowmobilers. He's created a website that modernizes trip planning for sledders from in-state and away.

KinoTek Inc., a Portland-based developer of a digital health platform that uses computer-vision technology for body-motion assessment, said Tuesday that it has raised $600,000 in a pre-seed funding round that was oversubscribed.

Colby College announced Thursday the creation of the Davis Institute for Artificial Intelligence, a new academic program that it expects will make the Waterville campus a prominent center for the teaching and research of artificial intelligence and machine learning.

Kristina Cannon spoke with Startup Maine President Katie Shorey in a half-hour on-screen interview, the latest installment of Startup Maine Entrepreneurs and Ecosystem Builders virtual speaker series. Cannon was honored on the 2019 Mainebiz Next list, while Shorey was honored in 2020.

As president of volunteer-run organization Startup Maine and director of engagement for Live + Work in Maine, Katie Shorey is plugged in to the fast-moving tech and startup scene — and committed to sharing its business success stories with a wide audience. Mainebiz caught up with Shorey to get the lowdown on Startup Maine, and what entrepreneurs should know about launching a business here. From Renee Cordes at MaineBiz.

Friday, the Portland-based startup building software for remote teams, announced today it has raised $2.1 million in an equity round led by Bessemer Venture Partners, one of the oldest and most well-known venture capital funds in the country. From Whit Richardson at Maine Startups Insider.

An app developed in Maine provides a subscription service designed to help small businesses get cash upfront while delivering discounts to customers on products and services they routinely buy. From Laurie Schreiber at MaineBiz.