2017 Year in Review
The last quarter of 2017 proved to be a strong and fruitful end to the year for Ikove. As shown below, Ikove and the portfolio companies achieved many milestones throughout the year capped with the majority of successes in Q4.
Our portfolio companies are gaining momentum and are well positioned for a breakthrough in 2018. We are preparing for important milestones across the portfolio, with many companies gearing up for significant Series A rounds in the first half of the year.
On February 1st, we are excited to host our first Ikove Startup Nursery Innovation Showcase in New York. Details can be found by clicking below.
We would love for you attend and spend time with our team. Please click the RSVP button above to make your reservation - (required for security).
With that background in mind, below is a brief update of the successes the portfolio companies achieved in Q4:
ParaGen closed on a blockbuster $4.1 Seed Round, with a global roaster of investors hailing from 10 countries. This round was featured in the Wall Street Journal, which can be found here: Paragen Technologies WSJ News
In Q4, ParaGen launched its fourth medical device company, Tarian Medical, to improve healing of hernia repairs. Additionally, the ParaGen portfolio of companies initiated two animal studies, generated exciting data, recruited top-notch Medical Directors, and submitted a 510(k) application to the FDA.
The graph shows mechanical data generated by Atreon Orthopedics, which demonstrates the ability to increase the strength of a rotator cuff repair by approximately 50% at twelve weeks, a true breakthrough.
eLum Technologies had a productive Q4, which focused on building out its new 6,250 Sq.Ft facility and continued product development. The team completed the installation of a full R&D lab, and is approved to begin establishing a cleanroom. Additionally, significant progress has been made in installing the R&D and manufacturing equipment. With the resources now in place, the team is looking forward to an exciting start to Q1 with a focus on product development.
Cognovi Labs CEO and Chairman Beni Gradwohl completed a successful 10 day European road show to raise its Seed C round, capping over $2.3 million in funding. The round was completely oversubscribed by 10 a.m. on the first day of the road show.
Cognovi hired Matt D’Alto to support the fundamental equity analysis and grow the financial, political and corporate verticals.
Additionally, through their Emotion AI platform, Cognovi secured a massive win by correctly predicting the outcome of the Alabama Senate election. See the Cognovi Newswire Story for more details.
The company is starting Q1 strong with media coverage around its Emotional AI Tech: Center for Politics Crystal Ball
Nikola Labs continue its successful path to market, and focus on building a world class team to dominate the wireless power universe.
The company won the prestigious Global Cable Innovation Summit pitch competition in Hangzhou, China:
In Q4, Nikola hired Brian Pitzer as Head of Sales, Shawn Nichols, Director of Business Development and Strategy and Toby Rice, Electronics Designer.
AgriFoundry is a joint venture of Demeter, Inc. and Ikove Venture Partners that works closely with major research entities across the United States such as the Ohio State University, Los Alamos National Laboratories and the US Air Force Research Laboratory (AFRL). The company's goal is to create and maintain an ecosystem that identifies potentially transformative technologies and infuses them into subsidiary startups targeting the global agriculture market.
In December 2017, AgriFoundry launched its first company, Soil1, with licensed technology from The Ohio State University. Soil1 allows users to test soil health and quality in real time. The Soil1 test kit is able to give a real-time measurement of soil organic matter, available carbon, available nitrogen and microbial vitality, while the current standard requires sending samples into a lab with a turnaround time of several weeks.
The company currently has orders for the test kits in the pipeline, and plans to deliver the first units in Q1 2018. Soil1 continues to expand its product line through a partnership with Los Alamos National Laboratories. This partnership will allow Soil1 to adapt the soil testing technology developed for NASA’s Mars Rover, which will provide more in-depth soil analysis plotted on contour maps in real time.
SolitonReach recently pivoted its focus to medical device applications. Alongside our current collaborators and KOL’s we have identified several potential application areas. This is coupled with a huge breakthrough in technology development, which allows our sensors to be factory calibrated and experience an increase in accuracy.
We are excited to start 2018 in a strong place and we are looking forward to celebrating additional milestones for Ikove and the portfolio companies in the year ahead. We look forward to seeing you at our event in NYC on February 1st.
Thank you again for your continued support