Participated · Equity · Apr 2020

Blue Line Battery produces a full line of maintenance-free lithium-ion batteries for forklifts, pallet jacks, electric vehicles and other handling equipment, sold through a national distributor network. The batteries eliminate watering, equalizing and swapping required by lead-acid units and address safety and weight issues cited with 1,500–4,500 pound lead-acid packs. CEO Dustin Herte launched the company in 2017 after working on high-performance electric bikes and adapting that battery expertise to warehouse equipment. The company was initially bootstrapped and received early support from Whitewater’s Community Development Authority, the Whitewater University Innovation Center and accelerator gBETA in Beloit. Blue Line says it has overcome early economic hardship and product-development challenges to bring its technology into warehouses. Management plans to use the latest funding to continue developing its energy-storage technology and to pursue stationary energy-storage opportunities in the solar market, which Herte says is roughly twice the size of forklift operations.

Participated · Series B · Oct 2011

HarQen provides an Intelligent Voice Service that enables meetings, interviews and other business conversations to be captured, enriched, organized, navigated, shared and analyzed. Founded in 2007 and based in Milwaukee, Wisconsin, the company focuses on collaborative voice services for enterprise customers. It has five U.S. patent applications pending and plans to expand its IP portfolio internationally. The company intends to use the new funding to expand its Wisconsin-based team, beginning with the addition of a chief intellectual property officer. CEO and co-founder E. Kelly Fitzsimmons said HarQen plans to hire dozens of people. The reported financing will support these product, IP and hiring initiatives. HarQen builds asynchronous voice applications for HR and other users. Its flagship product, VoiceScreener, lets busy professionals use their phone and a web-based dashboard to create and distribute custom recorded phone interviews. The company completed a $2.7M Series A financing to support growth. It previously raised a $750K seed round in December 2007. Management said the new financing will allow expansion of technical and sales teams. HarQen plans to grow market share for its asynchronous voice applications and expand the platform’s reach via strategic partnerships.

Participated · Equity · Nov 2009

BioSystem Development creates, manufactures and markets the AssayMAP microchromatography technology, a platform based on disposable micro‑chromatography cartridges and automation. The AssayMAP platform enables high-throughput solutions for bioprocess development, biomarkers and general life‑science research that reduce development time and increase efficiency. The company markets patented AssayMAP® technology and recently launched the fully automated AssayMAP Bravo® system, co-developed with Agilent Technologies. BioSystem Development intends to use new funding to scale up manufacturing capabilities, accelerate time to market for new products and support pipeline expansion. The company said demand from strategic partners has increased following the Bravo launch. BioSystem Development was established in 2002 and is based in Madison, Wis. BioSystem Development, founded in 2002 and based in Madison, Wis., designs, manufactures and markets tools and products to meet the needs of pharmaceutical development. Its core product is the AssayMAP platform, which is based on disposable micro‑chromatography cartridges and automation. The AssayMAP platform enables high‑throughput solutions for bioprocess development, biomarkers and general life‑science research. In November 2010 the company completed a $978,000 funding round. The capital will enable the company to expand its manufacturing infrastructure and to launch new AssayMAP products into the biopharmaceutical development market. Founder and CEO Scott Fulton said the funding provides the means to respond to growing market interest and launch several disruptive AssayMAP products. BioSystem Development, LLC develops and manufactures the AssayMAP™ Bioanalysis System, an open platform intended to improve analytical workflows for biopharmaceutical process development. The company completed an over $1.4M investment round composed of capital equipment and funding. Two strategic manufacturing partners, All Metal Stamping and Orbital Biosciences, contributed $350,000 in tooling and manufacturing infrastructure. The remaining just over $1.0M came from current investors and new contributors, including groups from Marshfield Investment Partners, Silicon Pastures and the Chippewa Valley Angel Investors Network. Management said the funding will support formalizing key strategic technology and commercial partnerships. The company also plans to use proceeds to launch several new AssayMAP products.