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POTOMAC TECH WIRE -- April 14
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Featured Event: WIT Event: Ethical Implications and Accountability of Algorithms - April 15

o McLean-based Lavrock Ventures Co-Leads Series A For Canada-based Expeto
o Sole Source Capital Acquires Columbia-Based Peak-Ryzex

o Rockville-Based Cellphire Therapeutics Raises $15 Million in First Round
o Herndon-Based Valiant Integrated Services Names Dan Corbett as New CEO
o Maryland Tech Council Receives Federal Grant for Mentoring Services

o Briefly Noted: Skience, Adit Venture
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Event Listings:
> WIT Event: Ethical Implications and Accountability of Algorithms - April 15
> Privacy and Cybersecurity Law: Current and Evolving Regulatory Framework
> Maximizing Insurance Claims Impacting Your Business - 5/21


Services Listings:
Lowenstein Sandler: Helping Tech Innovators Meet Today's Legal Challenges


For information on advertising options, click here.
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o McLean-based Lavrock Ventures Co-Leads Series A For Canada-based Expeto

McLean, Va. -- McLean-based Lavrock Ventures, along with Evok Innovations, has co-led a Series A round for Vancouver-based private mobile networking startup Expeto. Other investors in the round included Mistral Venture Partners and BDC Capital. Expeto said in the coming decade, millions of industrial sites will be equipped with private mobile networks. “Expeto was founded on the principles of bringing reliable, secure, and affordable connectivity to extend enterprise wireless networks to the new edge and beyond,” said Michael Anderson, CEO of Expeto. 
https://www.einnews.com/pr_news/538531818/expeto-completes-10-million-financing-to-advance-its-enterprise-first-private-mobile-nextworking-platform

o Sole Source Capital Acquires Columbia-Based Peak-Ryzex

Columbia, Md. -- Sole Source Capital, an industrial-focused private equity firm based in California, has acquired Columbia-based Peak-Ryzex from Keystone Capital and Massachusetts-based Optical Phusion Inc. from its founders. Financial terms of the deal were not disclosed. The companies will be merged and led by Peak-Ryzex CEO Juliann Larimer. Founded in 1981, Peak-Ryzex delivers automated data collection tools, providing technology designed to help businesses to become more efficient and responsive. The company is a reseller of barcoding, data collection and factory automation equipment.
http://www.peak-ryzex.com
https://www.businesswire.com/news/home/20210409005077/en/Sole-Source-Capital-Acquires-Peak-Ryzex-and-Optical-Phusion-Inc

o Rockville-Based Cellphire Therapeutics Raises $15 Million in First Round

Rockville, Md. -- Cellphire Therapeutics, a Rockville-based developer of technology for the long-term stabilization and storage of blood platelets, has raised $15 million in its first round of funding, led by Simcah Management. The company also said that shareholder Stephen Willard will step down as its CEO. The company's board said it has found his successor, but hasn't yet identified that person. In the interim, company veteran Rafael Jorda will serve as acting CEO. In addition, Cellphire has named Thomas Dubin, the former senior vice president and chief legal officer at Alexion Pharmaceuticals, as its executive chairman. Cellphire plans to use the new funding to accelerate the development of Thrombosomes, a platelet-based freeze-dried hemostatic agent, as well as support others research and development projects in the areas of targeted drug delivery, anti-thrombotic reversal and regenerative medicine.
http://www.cellphire.com
https://www.cellphire.com/news/cellphire-closes-15-million-series-a-funding-round-led-by-simcah-management

o Herndon-Based Valiant Integrated Services Names Dan Corbett as New CEO

Herndon, Va. -- Valiant Integrated Services, a Herndon-based government services contractor focused on complex missions, critical infrastructure and assets, has named Dan Corbett as its new CEO. Corbett, most recently the company's chief financial officer and chief development officer, succeeds Jim Jaska, who is retiring. The company also has elevated Mike Pilon, its current chief operating officer to the role of president. Valiant is a closely held corporation of GC Valiant, along with other shareholders.
https://www.onevaliant.com/
https://www.onevaliant.com/updates/valiant-integrated-services-announces-appointment-dan-corbett-chief-executive-officer-mike

o Maryland Tech Council Receives Federal Grant for Mentoring Services

Frederick, Md. -- The Frederick-based Maryland Tech Council (MTC), the Maryland technology and life sciences trade association, said it will receive a $378,000 federal CARES Act grant to significantly expand its Business Continuity Task Force. The grant will allow MTC to expand the task force’s free mentoring services to tech and life science businesses in Baltimore City, Baltimore County and Prince George’s County.
https://mdtechcouncil.com/maryland-tech-council-receives-378000-federal-grant-to-expand-task-force-advising-tech-life-science-firms-during-covid-19/

 
Join WIT on April 15th and Learn about Ethical Implications and Accountability of Algorithms

Algorithms silently structure our lives. Algorithms can determine whether someone is hired, promoted, offered a loan, or provided housing as well as determine which political ads and news articles consumers see. Yet, the responsibility for algorithms in these important decisions is not clear. It is time to talk about the need for accountability in coding ... as algorithms take over more and more aspects of our lives. Join WIT on April 15 as we explore how the lack of diversity in tech impacts our algorithms and how to mitigate human bias in machine learning (ML) and artificial intelligence (AI).

Learn more and register here: 
http://bit.ly/April15WITEvent
 
 
o Briefly Noted:

(Herndon, Va.) Skience, the Herndon-based financial services firm, has named Chris Zuczek to the new position of chief product officer. Zuczek previously served as chief project officer at New Jersey-based Discovery Data, a provider of analytics and data products to the financial sector.
http://Skience.com

(Washington, DC) Joe Bennett has been named a managing director at Adit Ventures. He will be based in the firm’s DC office and will focus on digital infrastructure investments. He formerly worked at Barclays and Mount Vernon Capital.
https://www.aditventures.com/
 
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Events:
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To Post an Event Listing, Click Here

> Join WIT on April 15th and Learn about Ethical Implications and Accountability of Algorithms

Algorithms silently structure our lives. Algorithms can determine whether someone is hired, promoted, offered a loan, or provided housing as well as determine which political ads and news articles consumers see. Yet, the responsibility for algorithms in these important decisions is not clear. It is time to talk about the need for accountability in coding ... as algorithms take over more and more aspects of our lives. Join WIT on April 15 as we explore how the lack of diversity in tech impacts our algorithms and how to mitigate human bias in machine learning (ML) and artificial intelligence (AI). Learn more and register here: http://bit.ly/April15WITEvent

> Maximizing Insurance Claims Impacting Your Business - May 21

Small business policyholders expect the protection of insurance when the company needs it the most. Too often, however, policyholders are in the position of dealing with a claim that the insurer refuses to cover. This seminar, presented by the NVTC Small Business and Entrepreneur Committee, will explore best practices companies should implement to maximize the value of their insurance policies and protect their interests. For more information and to register, go to: https://www.nvtc.org/NVTC/Events/Event_Display.aspx?EventKey=ENCE50

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Services:
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To Post a Services Listing, Click Here

> Lowenstein Sandler: Helping D.C. Area Tech Innovators Meet Today's Legal and Regulatory Challenges.

Lowenstein Sandler is a law firm serving technology leaders throughout the greater D.C. metro area. The lawyers in our rapidly growing D.C. office  work hand-in-hand with some of the most innovative entrepreneurs and business executives in the region. We partner with our technology clients to design strategic, effective solutions to their legal and regulatory challenges so they can focus on what they do best: innovate, build, and deliver the products, software, and services that lead our world into the future.

https://www.lowenstein.com/our-dc-office



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