OnLume of Madison raises $7 million; Milwaukee`s COnovate raises first investment round

Two Wisconsin-based companies recently announced that they`ve raised private investment dollars after previously receiving federal and state grant funding through the Small Business Innovation Research (SBIR) program.

OnLume Inc., a Madison-based medical device company that has developed a fluorescence-guided surgery imaging system, announced on April 30 that it has raised more than $7 million in series A funding to assist plans for its commercial launch. The financing round was led by Las Vegas-based Cambridge Investment Group.

COnovate Inc., a Milwaukee-based startup that’s developing a patented 2-D material to add battery capacity and charging speed to lithium-ion batteries, announced Monday that it completed its initial fundraising round led by Green Bay-based Tundra Angels...

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Ken Notes: Nice to see needed startup and development funds now moving in the State.