Potomac Tech Wire - March 11
DC-based Bluprynt Raises $4.25 Million in Seed Funding
o DC-based Bluprynt Raises $4.25 Million in Seed Funding
o Blue Fire Equity Invests in Maryland-based Jovian Concepts
o Booz Allen Ventures Invests in UK-based Defense Tech Company
o Reston-based CACI Completes Purchase of ARKA Group
o Richmond-based ASGN Closes on Acquisition of Quinnox
o College Park-based IonQ Partners wIth Cambridge University
o Briefly Noted: The Bitcoin Policy Institute, Otelier, Vibrint, HiLabs, Torridon Group
DC-based Bluprynt Raises $4.25 Million in Seed Funding
Washington, DC – With backing from some of the biggest crypto companies, Bluprynt, a DC-based digital compliance startup focused on the digital assets and crypto markets, announced that it has closed on $4.25 million in seed funding. The round was led by Valor Capital Group, with participation from Cultivation Capital, Robinhood, Coinbase Ventures, Quona Capital, Kazea, Flourish Ventures, Radical Investments, Selah Ventures and others. The company, founded by Georgetown University law professor Christopher Brummer, is developing a platform allowing digital asset issuers, banks, and others to quickly meet their regulatory requirements.
“Onchain finance is moving from experimentation to infrastructure,” said Brummer. “As securities issuers and large balance sheet institutions move their operations onchain, enterprise grade solutions are required that are purpose-built for blockchains and that match how these networks actually operate. Bluprynt is building the operating system that bridges old and new solutions so founders can ship faster and institutions and regulators can engage with confidence.”
Blue Fire Equity Invests in Maryland-based Jovian Concepts
Bethesda, Md. – Blue Fire Equity, a Bethesda-based private equity firm focused on the defense and government technology sector, said that it has made a strategic investment in Hanover, Md.-based Jovian Concepts, a provider of technical services to defense and intelligence agencies. The amount of the investment was not disclosed. Jovian was founded in 2007. “I’m excited that Blue Fire brings deep industry insight and shares our long-term view to strengthen our core capabilities while maintaining our company’s cohesiveness,” said Richard Scheper, president and CEO of Jovian Concepts.
Booz Allen Ventures Invests in UK-based Defense Tech Company
McLean, Va. – In its first international investment, Booz Allen Ventures, the venture arm of the large government consulting firm, announced that it has made a strategic investment in Hadean, a UK-based defense technology company powered by AI. Hadean develops wargaming, mission rehearsal and training technology.
“Working with startups like Hadean, we are on the cusp of revolutionizing how the Department of War incorporates synthetic mission rehearsals as a critical component of training and readiness efforts,” said Steve Escaravage, president of Booz Allen’s Defense Technology Group. “We are committed to accelerating the integration of Hadean’s technology to gain a decisive edge for U.S. and allied forces.”
Reston-based CACI Completes Purchase of ARKA Group
Reston, Va. – In a major move into the space technology market, CACI International, the large Reston-based government contractor, announced that it has completed its all-cash acquisition of Connecticut-based ARKA Group in a deal valued at $2.6 billion. With the completion of the deal, 1,100 ARKA employees have now joined CACI. “ARKA purposefully accelerates our space market strategy while adding technologies that strengthen and expand our position in this rapidly growing domain, which is traditionally defined by high technical barriers to entry,” said John Mengucci, president and CEO of CACI.
Richmond-based ASGN Closes on Acquisition of Quinnox
Richmond, Va. – ASGN, a Richmond-based IT services company, announced that it has closed on its acquisition of Chicago-based Quinnox, which will become part of ASGN’s Commercial Segment. “We are excited to announce the successful closing of our acquisition of Quinnox,” said Ted Hanson, CEO of ASGN. “This strategic platform acquisition enhances our position in digital engineering and establishes a solid foundation for our offshore delivery capabilities.
College Park-based IonQ To Create New Innovation Centre With Cambridge University
College Park, Md. – Continuing its expansion at leading research universities, College Park-based IonQ, the large quantum computing company, announced an agreement to establish an IonQ Quantum Innovation Centre at the University of Cambridge in the UK.
“This historic agreement with Cambridge deepens IonQ’s commitment to the United Kingdom and accelerates our technology platform with novel research at one of the world’s most storied physics powerhouses,” said Niccolo de Masi, chairman and CEO of IonQ. “By establishing the IonQ Quantum Innovation Centre, we are strengthening the bridge between academic discovery and commercial quantum advantage.
Briefly Noted
(Washington, DC) The Bitcoin Policy Institute has named Sam Lyman, formerly a senior advisor and chief speechwriter to Treasury Secretary Scott Bessent, as the organization’s head of research.
(Bethesda, Md.) Otelier, a Bethesda-based hotel data platform, has named Ani Gujrathi as its Chief Technology & Product Officer. Gujrathi most recently held the position of Chief Product & Technology Officer at Conexiom.
(Annapolis Junction, Md.) Vibrint, a defense technology company, has named Chris Oliver as general manager of products. Oliver was most recently CEO of ID Technologies.
(Washington, DC) HiLabs, a healthcare data company, has named Amir Desai as president and chief growth officer. Desai most recently served as CIO at Molina Healthcare
(Washington, DC) Torridon Group, a strategic advisory firm, announced an expansion of its strategic consulting services for government contractors with Dorsai LLC. “By uniting Torridon’s strategic and legal counsel with Dorsai’s deep-technical, strategic, operational, and government contractual expertise, we can assist clients in navigating toward the future of US national security, and the needs of our warfighters,” said Matthew Keegan, founder and CEO, Dorsai.