VOL. 132 | NO. 160 | Monday, August 14, 2017
By Andy Meek
Funding announcements have already started rolling in for some participating startups in this year’s “Summer of Acceleration” following Demo Day. The demo pitch to investors caps annual programming for the consortium of accelerators.
Chicago-based Shurpa, one of the startups participating in the EPIcenter Logistics Innovation Accelerator, picked up a commitment of $250,000 from Innova, a venture capital fund founded by the Memphis Bioworks Foundation.
Shurpa provides customized B2B delivery logistics that uses software to connect a network of neighborhood micro-depots in under-utilized space in existing businesses.
Shurpa CEO Ben Fornell described the company to The Daily News as a software platform for last-mile and same-day delivery, with a particular focus on e-commerce.
“We came in to the accelerator with revenue, with contracts, with clients, but what the Memphis accelerators really allowed us to do is engage with logistical behemoths,” Fornell said. “To engage with FedEx, as a sponsor of the accelerator. To engage with various other logistics firms in Memphis. Memphis is obviously a massive logistics hub. And so the accelerators really allowed us to get a better view of where we could fit into the larger supply chain.”
PathEX, meanwhile, was one of this year’s participating ZeroTo510 startups. It got $225,000 from the National Science Foundation for a STTR (Small Business Technology Transfer) Award.
The company was founded by two Nashville friends through which they’ve created a device that can capture bacteria from blood that allows for the diagnosis and treatment of sepsis. The ZeroTo510 accelerator they went through is funded and operated by Memphis Bioworks and focuses on medical…