Rivanna, a Charlottesville, Virginia startup, was awarded a $2.9 million grant from the National Institutes of Health. With the funds, the company will develop its Accuro 3S technology, an image-guided tool to help administer regional anesthesia for hip fractures.
Rivanna was founded by University of Virginia alums Will Mauldin and Kevin Owen in 2010. The company builds ultrasound-guided medical technologies to counter high failure rates in placements for epidurals and spinal anesthesia.
“Our technology is well-positioned to bridge a crucial gap in healthcare delivery and expand the range of Accuro 3S clinical applications, unlocking a significant U.S. market opportunity estimated at $295 million annually,” Mauldin said in a statement.
According to company filings, DC construction startup CloudRig just raised $2.5 million from undisclosed investors.
CloudRig developed a software platform for construction management and was cofounded by JP Spence and Seve Esparrago. Spence previously held roles at KPMG and C3 AI, while Esparrango has founded multiple startups including Even More Magic and Re.Star and held a role at Scaleable.
CloudRig’s software helps contractors, project managers, accountants, executives and more with management and real-time project updates.
At the end of the most recent Bark Tank pitch competition for students, Monumental Sports & Entertainment CEO Ted Leonsis pledged $5 million to ensure the event’s future.
Bark Tank is an annual competition for student entrepreneurs at Georgetown University, where they compete for cash prizes. Students of this year’s competition in October took home $125,000 in total prizes, including grand prize winner Reservoir, runner-up Orbit, and third place winners Georgetown REUSE, Shanda and Selleb.
Leonsis’s pledge will ensure the competition stays afloat for years to come and establishes the Leonsis Family Venture Development Program for student startup support initiatives.
“Ted’s generosity has not only transformed lives but has also inspired us all to be better, to do more, and to give back to the world in whatever ways we can,” McDonough School of Business Dean Paul Almeida said during the event. “We are so grateful for his continued leadership, for his dedication to our school, and most importantly, for his support of our students.
Here’s who else has cash grabs (and losses) this month:
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