Potomac Tech Wire - Oct. 2
McLean-Based Hupside Raises $1.7 Million for Human Originality Platform
o McLean-Based Hupside Raises $1.7 Million
o Herndon-Based Aventra Emerges From Stealth with $3 Million Round
o Annapolis-Based ACG Systems Acquired by Arizona Investment Firm
o Arlington-Based Association Analytics Sells Key Assets
o Barbara Humpton to Retire as President and CEO of Siemens USA
o DC-Based Spectrum Science Acquires Return on Focus
o Briefly Noted: IonQ, Trident Solutions, Runa Digital Assets
McLean-Based Hupside Raises $1.7 Million for Human Originality Platform
McLean, Va. – Hupside, a McLean-based platform designed to measure human originality, said on Tuesday it has landed $1.7 million in a pre-seed round, led by Ruxton Ventures. Several angel investors also took part in the round, which comes as the company announced the public availability of its core platform, known as Hupchecker. The company said its platform, backed by cognitive science, provides a quantifiable measure of how individuals think beyond conventional and AI-generated ideas.
“AI alone doesn’t transform companies – people do,” said Jonathan Aberman, the co-founder and CEO of Hupside. “Hupchecker provides an objective, data-driven way to identify individuals who can collaborate effectively with AI and think beyond the obvious.”
Herndon-Based Aventra Emerges From Stealth with $3 Million Round
Herndon, Va. – Aventra, a Herndon-based defense technology startup developing glide and guidance systems for long-range precision strikes, said it has emerged from stealth after raising $3 million in a round of seed funding, led by Lavrock Ventures. The company said it will use the capital to accelerate product development, expand testing operations and grow its staff. Founded by former Army officers and defense tech entrepreneurs Michael Weigand, Brian Retherford and Jessup Meng, Aventra has developed modular guidance kits designed to transform standard unguided munitions into precision weapons capable of reaching targets as far away as 3,000 miles. The company’s technology wraps a wing and guidance system around existing munitions to create long-range weapons that harness high-altitude winds, traveling extended distances via high-altitude balloons without relying on GPS navigation.
Annapolis-Based ACG Systems Acquired by Arizona Investment Firm
Annapolis, Md. – ACG Systems, an Annapolis-based systems integrator and technical service provider for wireless communication systems, said it has been acquired by Arizona-based investment firm Northrim Horizon. Financial terms of the deal were not disclosed. ACG will serve as Northrim’s foundation for additional growth and acquisitions in the wireless communication services industry. Northrim has appointed Thomas Montalbano, a former associate at McKinsey & Company, as the company’s new CEO. Bob Dick and Tim Carney, who have co-led ACG since 2005, will remain with the company.
Arlington-Based Association Analytics Sells Key Assets to Investment Firms
Arlington, Va. – Association Analytics (A2), an Arlington-based provider of data and analytical software for trade and professional associations, said it has sold key assets of its company to Theatre Capital and Trajectory Capital. The investment firms have formed a new entity called A2 Holdco, which will own and operate A2 in partnership with CEO Alex DeBarr and the rest of the company’s management team. Previous owner Julie Sciullo left the company earlier this year and will not be involved in the business going forward. A2 currently works with over 120 trade and professional associations, and now plans to focus on streamlining its core Acumen platform, improving implementation speed and customer service.
Barbara Humpton to Retire as President and CEO of Siemens USA
Washington, DC – Siemens, the DC-based technology conglomerate, said on Monday that Barbara Humpton will retire as the president and CEO of Siemens USA, effective Oct. 1. Ann Fairchild, the company’s general counsel, has been named interim President and CEO. Humpton has been with Siemens for 14 years, including seven as its U.S. CEO. Under her leadership, Siemens experienced significant growth in its largest market, including nearly $700 million in manufacturing expansions and multibillion-dollar investments aimed at integrating digital connectivity into the industrial world. The company said it will announce plans for a permanent successor at a later date.
DC-Based Spectrum Science Acquires Return on Focus
Washington, DC – Spectrum Science, a DC-based provider of healthcare marketing communications, clinical trial recruitment, advertising, consulting and media services, said it has acquired New Jersey-based Return on Focus, a provider of data-driven marketing services to pharmaceutical and biotech companies. Financial terms of the deal were not disclosed. Spectrum said the move will add services designed to help clients bridge the gap between early clinical development and commercial strategy. “This partnership strengthens our ability to guide products to market with precision,” said Amy Hutnik, the president and chief commercial officer of Spectrum Science. This marks the third acquisition Spectrum has completed since landing an investment from Knox Lane in early 2023.
Briefly Noted
(College Park, Md.) College Park-based quantum computing and networking company IonQ has named John W. “Jay” Raymond to its board of directors. Raymond most recently served as the first Chief of Space Operations for the U.S. Space Force.
(Fairfax, Va.) Fairfax-based Trident Solutions, a developer of defense electronics, has named Jim Haney as its CFO. Haney most recently served as the CFO of Teledyne Qioptiq Group, part of Teledyne Technologies, following its acquisition from Excelitas Technologies in January.
(Annapolis, Md.) Annapolis-based Runa Digital Assets, an investment management firm focused on digital assets and blockchain-enabled opportunities, said it has promoted Max Williams to the role of president. Williams has served as the firm’s COO since 2021.