— Ubicept, a Boston tech company based on research done at UW-Madison and MIT, recently closed on a $8 million investment round that included WARF.
The startup says it’s “redefining boundaries in the field of computer vision” by developing a perception system and image processing algorithms that use imaging sensors in a new way.
According to a release, this system can operate in “extreme” lighting conditions and capture sharp images of objects moving at high speeds, among other capabilities.
Sebastian Bauer, company co-founder and CEO, calls the seed funding round a major milestone for the business. He launched it in 2021 after spending time at UW-Madison as a postdoctoral research associate.
“This funding will allow us to accelerate our efforts to transform the way computers ‘see’ and understand the world, especially in challenging environments,” Bauer said in a statement.
A video at the company’s website demonstrates how its technology can capture complex images moving quickly past imaging sensors in low-light conditions, without blurring or distorting the images. It can also construct three-dimensional models of what it records for later analysis.
Aside from the Wisconsin Alumni Research Foundation, the investment round also included California’s Ubiquity Ventures, MIT Media Lab’s E14 Fund, Phoenix Venture Partners in California, and several other investors.
In a statement on the funding round, WARF Licensing Manager Michael Carey said Ubicept’s technology “has tremendous safety implications that positively impact people every day.”
See more at Madison Startups: https://www.madisonstartups.com/warf-invests-in-ubicept/
Watch the video here: https://www.ubicept.com/
— Partners in the Northwestern Mutual Data Science Institute have announced they will put $35 million in additional funding into the effort over the next five years.
The Milwaukee-based financial services company yesterday announced these plans alongside Marquette University and UW-Milwaukee. These three organizations say funding the institute through 2028 will support efforts to establish the state as a “recognized national hub” for technology.
“Our collective expertise amplifies what any one of us could achieve independently,” said Jonathan Stark, executive director of the NMDSI. “For our local business and community, this has tangible impacts on everything from our talent pipelines and career opportunities, to staying ahead of emerging technologies and advancing equitable outcomes because of them.”
Over the next five years, the institute will focus its research and other efforts on five areas: artificial intelligence; AI and data bias and ethics; behavioral economics; financial literacy; and health and wealth inequality.
At least $40 million has been invested in the institute by partners since it was launched in 2018, according to the release.
See more on the institute here: https://innv.northwesternmutual.com/northwestern-mutual-data-science-institute/
— A dozen organizations that work with Wisconsin entrepreneurs are getting nearly $1 million in grant funding from WEDC. .
The Wisconsin Economic Development Corp. announced the latest round of Entrepreneurship Partner Grants will go to groups providing training, financing, mentorship and technical support for members of the state’s startup ecosystem.
The funding aims to support entrepreneurs that haven’t had equal access to capital and other resources, including women, people of color, members of the LGBTQ community and residents of rural areas.
“Wisconsin stands behind its innovators and business owners,” WEDC Secretary and CEO Missy Hughes said in a statement.
Grants ranging from $6,200 to $150,000 are going to the following recipients: the Hmong American Center in Wausau; WiSys in Madison; Doyenne in Madison; Couleecap of Sparta; Develop America of Milwaukee; BizStarts in Milwaukee; Milky Way Tech Hub of Milwaukee; the Platteville Business Incubator; the Oconto County Economic Development Corporation; Milwaukee-based SCORE; the Western Dairyland Economic Opportunity Council in Independence; and Northeastern Wisconsin Technical College in Green Bay.
WEDC says applications for the next round of grants are being accepted through Aug. 31.
See the release: https://wedc.org/blog/wedc-awards-nearly-1-million-to-entrepreneurship-groups/
— The Senate Licensing, Constitution and Federalism Committee has approved along party lines a bill that would allow many workers with an occupation license, permit, or certification from another state to apply for and receive a reciprocal credential in Wisconsin.
The change would cover most credentialing bodies under the Department of Safety and Professional Services, though it wouldn’t apply to the Accounting Examining Board or the Real Estate Examining Board.
The committee amended the bill to tweak some language, including seeking to clarify that it would apply to credentials issued by states rather than jurisdictions, which could include other countries.
Watch a video of the committee meeting here: https://wiseye.org/2023/08/01/senate-committee-on-licensing-constitution-and-federalism-5/
— UW-Madison Vice Chancellor for Research and Graduate Education Steven Ackerman will retire Sept. 15, the university announced.
Ackerman has held this position since August 2019, and oversaw the university’s research response to the COVID-19 pandemic, according to a release. He first joined UW-Madison in 1987, and has served in multiple leadership roles since then.
In a statement on his retirement, he said he’s been “extremely happy” to champion campus research and further the university’s goals.
Chancellor Jennifer Mnookin has appointed Cynthia Czajkowski, current associate vice chancellor for research in the biological sciences, to fill Ackerman’s position on an interim basis. The university will begin a national search for his permanent replacement in the fall.
See the release: https://news.wisc.edu/ackerman-to-retire-from-vice-chancellor-for-research-and-graduate-education-post/
<br><b><i>Top headlines from the Health Care Report…</b></i>
— UW Health University Hospital has been ranked the top hospital in Wisconsin by U.S. News & World Report.
And new research out of UW-Madison suggests differences in antibiotic resistance between communities in the state could be mapped to improve treatments.
For more of the most relevant news on COVID-19, reports on groundbreaking health research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics.com and WisBusiness.com.
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#TOP STORIES#
# UW-Oshkosh to launch automation, biomedical engineering programs aimed at bolstering workforce
# Wisconsin manufacturer acquires New Berlin firm with plans for growth
# Haribo already approved for $8.6 million in tax credits for Pleasant Prairie factory
#TOPICS#
# AGRIBUSINESS
– Door County to host Alice in Dairyland Finals
http://wisconsinagconnection.com/story-state.php?Id=730&yr=2023
– USDA launches historic partnership with bipartisan state attorneys general
http://wisconsinagconnection.com/story-state.php?Id=731&yr=2023
# CONSTRUCTION
– Moore Construction leading 138-unit senior living project in Pewaukee
– Milwaukee’s new downtown plan gains final approval ahead of I-794 hearings, PAC parking structure RFP
# ENVIRONMENT
– Wisconsin wildlife regulators unveil revised draft of wolf management plan
– Wisconsin officials add recommendations to new management plan to keep wolf population around 1,000
– How the collapse of an Atlantic current could impact Wisconsin climate
# FOOD AND BEVERAGE
– First look at Rock & Brews at Potawatomi Hotel & Casino as KISS stars celebrate opening
– LaClare Creamery places first in American Cheese Society competition
# LABOR
– Local unions team up with United Way to provide school supplies for Milwaukee area youth
# REAL ESTATE
– Industrial buildings in Kenosha and Racine counties bought by international investor for $38.7 million
# REGULATION
– Wisconsin’s air quality has improved. The DNR manages air permits to help keep it that way.
# TECHNOLOGY
– Northwestern Mutual’s Data Science Institute garners new $35 million investment
# TOURISM
– Mile of Music marks 10 years with return of Music Bus, more. Here’s how to make the most of each day
– REO Speedwagon’s return to Resch Center keeps band’s Green Bay streak rolling
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
UW Health: University of Wisconsin Hospitals ranked No. 1 in Wisconsin
