A new app helps the visually impaired access Boston public transportation
A new app called BlindWays, developed by the Perkins School for the Blind, strives to eliminate the “30 feet of frustration” visually impaired people are accustomed to when using crowdsourced navigational tips that bring users within four or five feet of their bus stop. Using BlindWays, people can submit clues describing permanent landmarks near a bus stop like a tree, a fire hydrant or a mailbox. [Built In Boston]
Warby Parker co-founder raises $156M for new Boston-based VC fund
A co-founder of Warby Parker, a New York-based sunglasses and eyeglasses retailer, raised $156.36 million for a new venture capital fund headquartered on Boston's Newbury Street, according to a regulatory filing. The fund is called Elephant Partners, and is a venture capital firm focused on consumer Internet, mobile and software. [Boston Business Journal]
Lowell-based Podium Data Inc. lands $9.5M in funding
Podium Data Inc., a Lowell-based software company that manages raw data for companies, scored $9.5 million in a Series A financing this week from a syndicate of investors led by Malibu Ventures. Podium said in a statement they would be using the round of funding to scale sales, marketing, and business development while also expanding product development. [Built In Boston]
Akamai buys small NY startup
Cambridge-based content delivery network provider Akamai announced it acquired a tiny New York City-based startup this week. Concord Systems Inc. is a provider of technology for the high performance processing of data at scale. Akamai said the acquisition will complement its data processing capabilities and increase support for customers focused on the Internet of Things. [Boston Business Journal]
MIT launches a new accelerator with 5 local startups
MIT launched a new startup accelerator program called STEX25, which is being run by MIT’s Industrial Liaison Program as part of its Startup Exchange (STEX). Unlike many accelerators, STEX25 does not provide funding and does not take equity in the companies, but focuses instead on connecting big companies to MIT-affiliated startups and technologies. As the name suggests, STEX25 is planning to work with 25 startups at a time, though this week it only announced five as the others will join on a rolling basis. [Xconomy]
Allied Minds and GE Ventures join forces to create cutting-edge technologies
Allied Minds, a Boston-based diversified holding company focused on venture creation within the tech sector, and GE Ventures today announced the launch of a strategic alliance to jointly identify and commercialize next-generation technologies. Under the terms of the agreement, Allied Minds and GE Ventures agree to invest in new and existing technologies from both companies' innovation pipelines. The alliance will expand Allied Minds’ network of research and development partners to include GE’s leading early-stage technologies in healthcare, transportation, energy, and big data. [Business Wire]
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