Welcome to the April 2024 edition of the Refinery Ventures Newsletter! Inside you’ll find stories about the success of our X15 network, leadership transitions, strategic developments, and insights from across our portfolio. Enjoy!
X15 Delivers Leadership
We are excited to share that X15 member Zac Hensley has joined Livegistics as their Chief Operating Officer. Zac has built an impressive career in Cincinnati, notably serving as Vice President of Technology at Astronomer where he played a key role in the companies growth. Zac now looks forward to bringing his hypergrowth expertise to Livegistics. Learn more about Zac’s journey and his vision for his new position in his own words.
Leadership Can Be a Paradox
In March, we hosted an X15 event with guest Marianne Lewis, Dean and Professor of Management at University of Cincinnati, where over 30 company leaders and founders joined to participate in a paradoxical leadership workshop to help explore tensions surrounding leadership and innovation.
Midwest House x X15 Program at SXSW
Refinery’s X15 platform collaborated with the Midwest House at SXSW for a panel discussion on the Midwest boomerang experience. Patrick Kent, our Head of Network, hosted a panel with Alex Conley from JobsOhio, and Midwest boomerangs Austin Mace and Kyle Grimslid to explore the challenges and strategies in attracting talent back to the Midwest.
Celebrating Growth in the Region
In March, Refinery had the pleasure of sponsoring Miami University’s inaugural RedHawk 50 Gala, celebrating the country’s 50 fastest Miami RedHawk-owned or -led businesses.
News Across the Portfolio
Redi Health Lands $14M Investment
Redi Health announced that it has closed $14 million in Series B funding. Redi Health will use the financing to foster innovation, develop and launch new products, expand its unique network and accelerate overall growth.
Astronomer Announces Growth
Astronomer announced exceptional growth, fueled by the success of their Astro platform, and is excited to share that they are relocating their headquarters to New York City.
- 292% year-over-year growth in revenue
- 30 million downloads a month, 68% YoY increase
- 1,774% YoY increase in successful tasks executed
Balancing Technological With Environmental Stewardship
One of the biggest technology challenges we face is managing the growth and power consumption of data centers. Here’s a great article from Steven Santamaria, CEO of Folio Photonics, “According to an analysis by the consulting firm Grid Strategies LLC, electric utilities project a near doubling of power needs by 2028, equivalent to adding another California to the grid.”
EdgyBees Secures Cutting-edge Patent
Edgybees, announces its pivotal patent, “Improving Geo-Registration Using Machine-Learning Based Object Identification.” This revolutionary patent introduces an advanced geo-synchronization system that enhances the precision and reliability of georegistration processes by utilizing machine learning algorithms for dynamic object identification in aerial imagery.
The Dangers of Unmanaged Enterprise AI
With more than 50% of organizations gearing up to implement AI in the coming year it brings forth a new array of vulnerabilities that demand attention. To stay ahead it becomes paramount for these companies and their security teams to enact governance policies for monitoring employee usage.
The First Automated Host-Read Ad Platform Available Across Podcast Hosts
RedCircle announces OpenRAP, the first and only product delivering fully-automated host-read advertising across hosting platforms. With OpenRAP, podcast publishers can have new host-read advertising demand delivered directly into their content by RedCircle.
Bitewell has launched a new digital food “farmacy.”
The new online store personalizes the food shopping experience based on members’ health conditions and goals. Members can access the offering through a participating health plan, wellness program or provider.
Using AI and Machine Learning to Leverage Data
Stephany Lapierre, Founder and CEO of TealBook, discusses how the business is using AI and ML to increase the accuracy of supplier data management systems.
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