Denver-based Intermap Technologies tapped to aid in rescue of Thai soccer team
The story of the 12 boys and their soccer coach who were trapped for two weeks in a cave in Thailand has made headlines around the globe. Right here in Colorado, Denver-based Intermap Technologies was tapped to help in the rescue efforts by leveraging its 3D mapping technology to provide a detailed map of the elevation, hydrology and layout of the cave system. The company was able to produce the map in only three hours, measuring the area’s elevation within a meter of accuracy. In the end, the map helped guide rescuers through the cave network to the trapped kids. [Denver Post]
Colorado Technology Association appoints new CEO
After nearly four months of searching, Colorado Technology Association has named a new CEO. Frannie Matthews, who has served on the Association’s board for the last two years, will assume the role, bringing with her decades of tech industry experience. Most recently, Matthews served as a western U.S. regional leader for IBM’s sales to higher education, health care, local and state governments and telecom companies. Matthews plans to focus on supporting innovation, growing businesses and, perhaps most importantly, attracting high-quality talent to the state to meet the hiring demands of fast-growing tech companies. CTA’s former CEO, Andrea Young, stepped down in March, with COO Monica Coughlin serving as interim CEO throughout the search. [Denver Business Journal]
GHX acquires German software developer
Louisville-based Global Healthcare Exchange, which creates cloud-based supply chain management software for the healthcare industry, announced on Tuesday its plans to acquire German healthtech company Medical Columbus AG. The company develops healthcare procurement software for providers and suppliers throughout Germany, Switzerland, Austria, Luxembourg and the Netherlands. The majority acquisition of Medical Columbus’s assets and employees will enable GHX to expand its European footprint significantly. The deal is expected to close in about three months. [Press release]
Stout Street Capital to raise $20M for second fund, focused on Colorado companies
Denver VC firm Stout Street Capital released news this morning that it will raise $20 million for its second fund, which will be used to invest in early-stage startups in Colorado, and other states throughout the Midwest and Rockies region. Its first fund, which raised $10 million, has been used to invest in 27 companies across Colorado and the Midwest over the last 12 months. The firm intends to invest a total of $5 million by the end of the year, with the remaining capital dedicated to follow-on investments in existing portfolio companies. With $5 million already committed, Stout Street hopes to close the $20 million fund by spring 2019.
Meditation Studio gets acquired by Toronto-based Interaxon
On Monday, consumer brain sensing technology company Interaxon announced it had acquired Louisville-based Meditation Studio, which offers a mobile app for meditation and wellness. The acquisition expands the Toronto-based company’s direct-to-consumer offerings and adds over 400 original guided meditations and courses to its database. The financial details of the deal were not disclosed. [Press release]
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