Boston Tech Watch: DraftKings, MassChallenge, Jibo, LovePop, & More
This week, we’re tracking expansions, funding deals, and legal battles in the tech community.
—MassChallenge continued to expand its nonprofit accelerator program for startups to more locales outside of Boston. The newest program will be based in Switzerland’s Lake Geneva region and will launch next year, MassChallenge said in a press release on Sunday. That follows the recent announcement of a planned MassChallenge outpost in Jerusalem that will also open next year. The organization currently operates accelerator programs in Boston and London.
—The daily fantasy sports industry’s roller coaster legal saga continued last week when a New York judge upheld a preliminary injunction against DraftKings, FanDuel, and their brethren. The ruling meant the companies would not be allowed to operate in the state while they appeal a cease-and-desist order from the New York attorney general. But later that day, a different judge in the New York appellate system granted the companies’ motion for an “emergency stay” of the preliminary injunction, Fortune reported.
The bottom line, according to Fortune: DraftKings and other daily fantasy sports companies are allowed to do business in New York until at least Jan. 4, when a panel of judges will make the final call on whether or not the companies can operate there during the entire appeal process. It’s a big deal for the businesses because New York has the most daily fantasy players of any state.
—Content Raven raised $2.2 million from new investor Nauta Capital and prior backer MassVentures, which brings the total funding raised by the Hopkinton, MA-based company to $4.2 million, a spokeswoman said. Content Raven sells cloud-based software that enables secure delivery and monitoring of content created by sales professionals, corporate trainers, and media producers.
—Taiwan-based Adlink Technology will acquire PrismTech, a Boston-based company that provides software used in connected devices and advanced wireless communications in a variety of sectors, including industrial automation, healthcare, transportation, and defense. Terms of the deal weren’t disclosed.
—LovePop, a Harvard Innovation Lab spinout that makes pop-up greeting cards, walked away from ABC’s “Shark Tank” with a $300,000 investment from Kevin O’Leary, who will get a 15 percent stake in the company, the Boston Business Journal reported. The company previously raised $2.6 million in a round that could reach $3.4 million, according to a recent SEC filing.
—Boston-based “social” robot maker Jibo disclosed a $16 million financing deal in an SEC filing. The document was published two weeks after Jibo raised an undisclosed amount of capital from San Jose, CA-based Fenox Venture Capital.