o Tysons-based pWin.ai Raises $10 Million for AI Proposal Tool
o DC-based Cove Lands New Investment from Lead Edge Capital
o Northrop Grumman Makes $50 Million Investment in Firefly Aerospace
o Virginia Tech Launching New Computing Institute in Alexandria
o Merged Companies Rebrand to Form Healthcare Firm Commence
o Briefly Noted: Red Cell Partners, NEC National Security Systems
Tysons-Based pWin.ai Raises $10 Million for AI Proposal Writing Tool
Tysons, Va. – pWin.ai, the Tysons-based developer of an AI tool designed to streamline the proposal writing process, said it has raised $10 million in a seed round of funding. The round, from MicroStrategy co-founder Sanju Bansal, members of the Blue Delta Capital team and other leaders from the government contracting industry, will help bolster product development, market expansion and customer growth. The year-old company built its core software in partnership with Shipley Associates, a firm focused on business development training and proposal support, and claims it can improve win rates by as much as 20%.
“pWin.ai simplifies RFI and RFP response generation, empowering businesses and government contractors at the federal, state and local level to increase both bid volume and win rates,” said Vishwas Lele, the co-founder and CEO of pWin.ai.
DC-Based Cove Lands New Investment from Lead Edge Capital
Washington, DC – Cove, the DC-based developer of commercial property management software that aims to unify tenant experience with building operations, said it has landed a new investment from growth equity firm Lead Edge Capital. Financial terms of the deal were not disclosed. The new funding follows closely behind previous rounds led by Nuveen Real Estate in 2024 and Blackstone Innovations Investments in 2022.
“Cove combines building operations and tenant experience into one seamless platform,” said co-founder and CEO Adam Segal. “With the support of our investors, Cove will expand our product to further simplify how real estate is managed and experienced.”
Northrop Grumman Makes $50 Million Investment in Firefly Aerospace
West Falls Church, Va. – Northrop Grumman, the Falls Church-based defense contractor, has made a $50 million investment in Texas-based space company Firefly Aerospace. The two companies are working together on a medium launch vehicle, called Eclipse.
“Eclipse gives customers the right balance between payload capacity and affordability,” said Wendy Williams, vice president and general manager, launch and missile defense systems at Northrop Grumman. “Our partnership with Firefly builds on our capacity to provide crucial spaced-based communication, observation, and exploration for civil and national security customers.”
Virginia Tech Launching New Computing Institute in Alexandria
Alexandria, Va. – Continuing its massive expansion in the DC area, Virginia Tech announced the formation of a new Institute for Advanced Computing in Alexandria. The new institute will bring together academic and research programs in artificial intelligence, machine learning, quantum computing and other computing disciplines. The Institute will be based at Virginia Tech’s Academic Building One in Alexandria.
“The organization of the new institute is built around core expertise and innovation in computing and structured to advance high-potential areas of application across a variety of disciplinary interests such as business, arts, and health sciences,” said Cyril Clarke, executive vice president and provost. “It provides our university with a firm foundation for recruiting and retaining world-class talent, fostering industry collaboration and creativity, advancing partnerships and priorities, and educating a workforce necessary to drive economic growth in the region and beyond.”
Merged Companies Rebrand to Form Healthcare Tech Firm Commence
Virginia Beach, Va. – Months after their acquisition and merger by venture capital firm Pleasant Land, DOMA Technologies, Livanta and Advanta Government Services said they have rebranded to form a new Virginia Beach-based healthcare technology company called Commence. The new company will offer an AI-powered platform designed to power more efficient processes in healthcare.
“As the federal government seeks to boost the efficiency of its healthcare spending, Commence empowers health agencies such as Veterans Affairs (VA) and the Department of Health and Human Services (HHS) to optimize programs of any size, scope, or complexity,” said Ian Checcio, the chief growth officer of Commence.
Briefly Noted:
(McLean, Va.) McLean-based Red Cell Partners, an incubation and investment firm focused on healthcare, cyber and national security technology startups, has named John Aquilino as an advisor in its national security practice. Aquilino is a retired admiral who previously commanded the U.S. Indo-Pacific Command from 2021 until his retirement last July.
(Arlington, Va.) Arlington-based NEC National Security Systems, a unit of technology-giant NEC providing biometrics, AI and computer vision support to federal agencies, has named Todd Morris as its new president. Morris, who succeeds the retiring Kathleen Kiernan, most recently served as the CEO of Fusion Technology, and earlier held senior leadership roles at General Dynamics Information Technology, Maximus and MetroStar.