Yesterday, enterprise tech accelerator Alchemist announced a fresh $2.5 million in venture capital funding. Today, it presented its latest cohort of startups, 19 in total, to a jam-packed audience of investors.
Alchemist invests $36,000 in companies with a revenue stream that come from enterprises, not consumers, with a bent toward technical founders. Its 20th cohort included a mental health startup, a construction tech business, a fintech company and more. Here’s a quick look at the startups that just completed its six-month program:
Cruz Foam: Makes compostable packaging “from the ocean for the ocean.” Instead of using finite petroleum-based materials, Cruz Foam transforms waste into a structural foam that is at-home compostable. The startup counts Pepsi among its first customers. Cruz Foam is working with the beverage maker on a sustainable packaging project.
Bobly: Gathers real-time information that helps businesses better understand their customers through a gamified software product.
DeepBench: The MIT tech startup’s software enables companies to create their own network of knowledge experts, with a mission to “unlock the world’s knowledge by reducing the cost of finding and matching experts.”
dumpling: Empowers gig workers to run their own “highly personal” grocery delivery businesses. Dumpling says they make $8 in revenue on each order and is active in 24 states. The startup is led by Nate D’Anna, the former director of corporate development at Cisco.
Ejenta: Allows health providers to remotely monitor patients from their homes using technology developed by NASA intended to monitor astronauts. Ejenta is currently working with health providers across the U.S. Ejenta charges health providers a per patient, per month subscription fee that’s 100 percent reimbursable by Medicare.
IoTrek: Leverages artificial intelligence and IoT to improve the productivity of construction job sites. The startup says it has raised $500,000 in funding so far from European and Indian investors.
AirBoard: Developer of “the world’s most powerful drone” for the agricultural industry. AirBoard’s drone is the size of two Toyota Prius cars and will focus initially on automated agtech pesticide spraying.
Walrus Security: Founded by Michael Walfish, a former professor of computer science at New York University, Walrus Security ensures digital payments are transferred safely. Walrus has already landed backing from some high-profile angels, including Alex Roetter, the former SVP of engineering at Twitter and the president of Kitty Hawk.
Insera Health: Developer of a voice-enabled app that collects a patient’s medical history to improve medical encounters. Insera says this improves the experiences for patients and doctors, with better communication and outcomes.
Laava Tech: Decreasing energy consumption for indoor farmers with proprietary LED lighting and a Light as a Service (LaaS) business model.
Oberon Global: Helps conduct and manage compliant token sales. Oberon provides a secure investor onboarding platform for funds, as well as companies raising money under Regulation D 506(b) and 506(c).
Autify (formerly known as Behivee): Automates software testing with artificial intelligence.
PenguinSmart: Initially focused on the China market, PenguinSmart provides an AI-assist rehab support service for speech and language therapy. The startup is led by Amy Kwok, a speech-language pathologist.
Rosalyn Inc: A proctoring platform that uses AI and computer vision to make exams secure and scalable. The startup says it reduces overhead and lets companies scale up their certification process while reducing fraud.
Gridline AI (formerly known as Solisite): Helps property owners turn roofs from liabilities into assets by reducing roofing costs and generating additional income for commercial real estate.
Tangent: Is using AI to provide high-quality content for marketing campaigns. The AI-enabled platform develops personalized images for the fashion e-commerce industry. Expects $600,000 in revenue by the end of Q4 2019.
Foresight Mental Health: Delivers end-to-end mental healthcare with a tech-enabled platform that develops treatment plans, provides a real-time tracker of symptoms and more. The company plans to open a brick-and-mortar location in San Francisco in 2019.
Bitesize: A B2B messaging platform that lets companies speak directly with customers via SMS.
Digify: A document security service that provides insights and protection to users sharing documents online.
