Exact Staff Cuts, NorthStar, & New Fundings: This Week’s WI Watchlist
(Page 2 of 2)
of parts and products before manufacturing them on a large scale, raised $750,000 from 20 investors. Peter Qian, SmartUQ’s founder and chief scientist, said his company will use the new equity financing for product development, sales and marketing efforts, and adding staff. Reached by phone, Qian declined to reveal the names of any of the organizations that use SmartUQ’s software, but said they are Fortune 500-sized companies in industries such as aerospace, semiconductors, automobiles, and defense.
—Insulete, a Madison-based company that’s seeking to develop a cure for Type 1 diabetes using gene therapy, raised $300,000 from one investor, according to a regulatory document. Hans Sollinger, a transplant surgeon at the University of Wisconsin Hospitals and Clinics, co-founded Insulete and serves as the company’s president. It’s the first outside financing Insulete has raised, according to SEC filings.
—Simplifide, a Madison-based startup whose software helps protect businesses from identity fraud, raised $260,000 from seven investors, according to a securities filing. The three Simplifide executives listed on the filing are Prathit Bondre, Nick Fuhrman, and Jeff McAllister. According to Bondre’s LinkedIn profile, he is a former employee of Tascet, another company in Madison that helps shield clients from identity fraud.