DriveWealth Funding, Princeton NSF I-Corps Hub, Demo Days And More
- Yet another N.J. tech company has reached “unicorn” status with a new funding round.
- Fintech startup DriveWealth (Chatham) Raised a $450 million Series D round, valuing the company at $2.8 billion.
- The round was co-led by New York-based global private equity and venture capital investors Insight Partners and Accel.
- Said Bob Cortright, founder and CEO of DriveWealth, “Our goal is for DriveWealth to be the partner of choice to deliver the embedded investing experience of the future.”
- We covered DriveWealth in an article in December of last year.
Princeton NSF I-Corps Regional Hub
- Princeton University will lead one of five new NSF-funded Innovation Corps (I-Corps) hubs together with partner institutions Rutgers and the University of Delaware.
- Affiliated universities include NJIT, Rowan University, Temple University, Lehigh University and Delaware State University.
- The I-Corps program’s aim is to build skills and opportunities among researchers from all backgrounds, including those historically underrepresented in entrepreneurship.
Princeton Keller Summer Demo Day
Brick Bank presentation | Screenshot by Esther Surden
- Princeton’s Keller Center held its Summer Demo Day online recently.
- The student teams in order of their presentation:
- Kotami: Fashion-forward, ethically produced clothes at an accessible price point.
- YetoBread: Creating affordable keto-friendly bakery products.
- Office Party: Event production group focused on unique sustainable deployments.
- RoundTable: Blockchain-based decision-making software aimed first at angel groups.
- Brick Bank: Rental service providing affordable access to Lego sets.
- Berry: Software to efficiently compare nutrition labels on grocery products.
- Adventurelist: Connecting outdoor adventure-seekers with targeted expeditions.
Highlander Foundry Demo Day
- NJIT held its Highlander Foundry virtual demo day showcasing the entrepreneurial skills of its student and alumni teams in its VentureLink program.
- The teams were:
- Hovar: A mobile platform that allows artists to bring their art to life by leveraging augmented reality to add 3D and 2D assets to their work.
- Float: A global consumer credit report aimed to disrupt a process that leaves international students and immigrants with good credit histories unable to prove it.
- Lyra: Provides programs in underserved communities to help students prepare for STEM careers through workshops focusing on unconventional STEM topics.
- Well Heard: A web app and Chrome extension powered by an AI server chatbot that will be used to provide cognitive behavioral therapy,
- Peek: An augmented reality app that people can use to point their phones and get curated information about their current surroundings.
- Leagalese: A quick and efficient way for people to upload contracts to a platform and be advised of “red flag” issues.
- A video of the demo day can be found here.
Leir Research Institute Virtual Conference 2021
- NJIT held its Leir Research Institute Virtual Conference Friday.
- The conference presented an in-depth look at research into the underpinnings of fintech, as well as practical advice for students and startups.
- Some of takeways:
- Learn Python, not C++, to set yourself up for a fintech career.
- Startups entering the fintech world face risks, especially in regulatory compliance.
- Fintech startups can even have problems discovering what federal agencies actually regulate them.
- Increased digitization means that more startups can enter banking with lower startup costs.
- This will lead to more competition between fintech startups for a huge but finite market.
Blockchain Employ Job Fair
- A virtual Blockchain Employ Job Fair last week was hosted by the Princeton Blockchain and AI group and sponsored by the Linux Foundation.
- The meeting featured information about available blockchain-related jobs from companies like ConsenSys, Hyperledger, Accenture, and more.
- Attendees were then allowed to schedule time with any companies they were interested in.
- Kudos to the meetup group and organizer Bobbi Muscara for attempting to make direct connections with employers for the members of the group.