Security products company Allegion Plc says it has had such success with its initial technology-focused investment fund over the past 32 months, that it’s now launching a $100 million fund that’s double the size of the original.
The company announced Wednesday that its corporate ventures arm, Allegion Ventures, has created a fund that will invest in companies working in the internet of things, data security, building analytics, construction lifecycle management, and property management. The fund, called Fund II, aims to make investments in the range of $500,000 to $10 million.
Allegion is headquartered in Ireland, and its Americas division is based in Carmel. The company makes a range of products, from mechanical and electrical locks to electronic safety products, under brand names that include Schlage, Steelcraft, Von Duprin and others.
A Missouri-based pet food manufacturer is planning to expand operations to central Indiana. Diamond Pet Foods says it will invest more than $200 million to construct a 700,000-square-foot manufacturing and distribution facility in Rushville and create more than 170 jobs by 2023. The Rush County Economic Development Corp. says the project is one of the largest private investments in the city’s history.
Diamond Pet Foods manufactures a variety of proprietary and private label pet food products.
The EDC says Rushville was chosen after a competitive site selection process. The company cited the city’s business climate and availability of site-ready development land as reasons for its decision.
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A South Bend-based startup focused on reducing food waste has closed on a $1.1 million pre-seed round of funding. FloWaste Inc., which uses machine learning to determine how much food gets thrown away, says it plans to use the funding to scale up and improve its technology.
Founder and Chief Executive Officer Rian Mc Donnell says customers using FloWaste’s platform can identify 20 foods they want to track and, using cameras throughout the customer’s operations, the system can provide data on the amount of food being discarded.
What started as an artisanal chocolate maker in Indianapolis has transitioned into a food tech startup with a goal to disrupt the industry with its food preservation technology. True Essence, the parent of the SoChatti chocolate brand, has raised more than $5 million in series A2 funding with support from Indy-based Elevate Ventures and other private investors. The company says the funding will allow it to expand its food processes beyond the candy aisle.
“We’ve been very well received by the investment community. It’s been fantastic to see the evolution of this company,” said True Essence founder and Chief Executive Officer Matt Rubin in an interview with Inside INdiana Business. “Our team internally is energized as ever on this next arc of the mission.”
Wisconsin-based gener8tor has announced the fall cohorts for its gBETA Indiana, Bloomington-Columbus, and AgBioScience programs. The startup accelerator says the programs are designed to set a path for startups to participate in other equity-based accelerator programs and investment opportunities.
Each cohort includes five early-stage startups from throughout the state. gener8tor says the seven-week accelerator provides the startups with intensive concierge coaching and access to its national network of mentors, customers, corporate partners and investors. At the end of the program, the participants will pitch to investors, community partners and the public.
