Money Moves: Astrobotic, Gecko Robotics, LifeX and more Pittsburgh orgs score millions
Summary
The funding comes through the Small Business Innovation Research program a few months after the company entered into a three-year agreement with Siemens Energys European Field Service organization. Cofounder and CEO Jake Loosararian said in a statement that hes proud the company will be doing its part to safeguard the nations most critical assets and looks forward to similar partnerships in the future.Im also proud of how our team and our product have risen to the challenge during this competitive process as we continue to increase our partnerships across the federal space, Loosararian said.Conservation Labs, a Pittsburgh-based sustainable water use company, announced that its been chosen to participate in the Amazon Web Services Sustainable Cities Accelerator for Infrastructure. The first is a South Side brewery by the name of Velum Fermentation and the second is a DC-based prepared food maker called 8Myles.The homegrown Honeycomb Credit cofounded by CEO George Cook has gained attention previously with milestones such as raising $1.75 million of its own in a 2021 seed round, and its status as a finalist in the MoneyPitch competition that same year.Energy Innovation Center, Astrobotic and BioForge are getting grantsThe Redevelopment Assistance Capital Program, a state grant program designed to support regional cultural, economic, civic and historical projects, is awarding $12.85 million to eight Pittsburgh projects. Lastly the University of Pittsburgh gets $1 million to build a structure for a manufacturing facility and institute that BioForge can use to advance manufacturing processes and train students for jobs related to the biomanufacturing workforce.State Rep. Aerion Abney said in a release that all the projects awarded funding will improve Western Pennsylvania in one way or another.These projects will not only support existing businesses or cultural programs but also will create opportunities for businesses to invest and grow in our community, Abney said.LifeX, a SouthSide Works-based life sciences founder of life sciences companies, is receiving a $1 million grant from the Angel Investment Venture Capital Program, a state program geared toward supporting businesses in the earliest stages of financing. LifeX was picked because of its history providing early-stage funding for life science companies in Western PA, and by proxy the University of Pittsburgh where it was founded.I [am] pleased to provide state funding to help them in their mission, which aligns perfectly with the goals of the Angel Investment Venture Capital Program and the efforts to grow businesses in and attract businesses to Pennsylvania, Pennsylvania Senate Majority Appropriations Committee Chairman Pat Browne said in a statement.Back in September, LifeX also secured $14.7 million from the state via the Direct Venture Investment program, which funds orgs that will provide seed and later-stage capital for existing and emerging companies involved in the development and commercialization of technologically advanced products and processes.