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Atlas Space Operations Secures $26M Series B Funding Led by Mitsui

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Atlas Space Operations, an NMA Portfolio Company, Secures $26M Series B Funding Led by Mitsui

Traverse City, Michigan – August 26th, 2022 (BUSINESS WIRE)

ATLAS Space Operations, a global leader in cloud-based space communications solutions, today announced $26 million in Series B Funding led by Mitsui & Co., Ltd. The investment round reaffirms confidence in ATLAS’ Ground Software as a Service™ (G-SaaS) approach as a critical solution within the space economy.

The funding round is a part of strategic initiatives for both Mitsui and ATLAS. For ATLAS, this investment accelerates its plan for international growth, as well as its Ground Software as a Service business model. This is ATLAS’ industry disruptive software (Freedom™) solution which integrates complex disparate networks for government and commercial clients across a federated network.

For Mitsui, its investment in ATLAS further demonstrates the corporation’s commitment to its space portfolio. Mitsui has identified an area of focus for innovative companies that provide services to satellite operators. In 2018, Mitsui acquired a minority stake in BlackSky Global followed by an acquisition of Spaceflight, Inc, a U.S. satellite rideshare service provider, in 2020. The investment in ATLAS advances Mitsui’s position in the space industry as one of its new targeted growth areas.

Sean McDaniel, ATLAS Co-founder and CEO, stated, “A strategic partnership with Mitsui validates ATLAS’ position as a global leader in satellite communications services. This investment well capitalizes the company to accelerate growth in key areas of commercial and US government markets for which our services are in high demand. With this new partnership, ATLAS can expand its team to provide enterprise-level Ground Software as a Service solutions for the DoD Hybrid Space Architecture while increasing our market share in the private sector with our low risk, high-end services.”

Kazutomi Shigeeda, General Manager of Space Business Department in Mitsui, stated, “This investment in ATLAS expands our space business as a service provider for satellite operators. We strongly believe that ATLAS Ground Software as a Service can maximize the value of the ground stations and integrate other governmental and commercial ground station networks. In the future, we consider that ATLAS will be able to integrate satellite data relay networks as part of its own network, and it will lead us to the next generation satellite-ground communication infrastructure business. In order for ATLAS to achieve its vision, we will support its growth in collaboration with our space business portfolio and by utilizing Mitsui’s industrial network.”

About ATLAS Space Operations:

ATLAS Space Operations is a leading provider of Ground Software as a Service™ solutions in the space communications industry. ATLAS has been recognized by the World Teleport Association to be in the top three fastest-growing teleport operators in the world for the past two years, and was recognized as the 15th fastest-growing software company in the world in 2020 by Inc. 5000. ATLAS combines the Freedom™ Software Platform and its global antenna network to achieve its mission of connecting humanity through space. To learn more, visit atlasground.com.

About Mitsui & Co., Ltd.:

Mitsui & Co., Ltd. (8031: JP) is a global trading and investment company with a diversified business portfolio that spans approximately 63 countries in Asia, Europe, North, Central & South America, The Middle East, Africa, and Oceania. Mitsui has built a strong and diverse core business portfolio covering the Mineral and Metal Resources, Energy, Machinery and Infrastructure, and Chemicals industries. Mitsui has positioned the space business as one of our new growth areas and is working to create new business opportunities with increasing demand for space-related services. For more information on Mitsui & Co’s businesses visit, www.mitsui.com.

ATLAS is a Northern Michigan Angels portfolio company. The investment from Mitsui is joined in this funding round with Beringea, and accompanied by foundational funding from Boomerang Catapult, Rise of the Rest, VCapital, Harmonix, Wakestream, and Grand Ventures.

Contact Information:
Dan Carey
Marketing Director, ATLAS Space Operations
+1 (231) 598-6814 ext 105
dcarey@atlasground.com

The Petoskey News-Review: NMA Concludes 10th Year with Record Investments

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Northern Michigan Angels conclude 10th year with record investments
By: Tess Ware, The Petoskey News-Review – Business January 29, 2022

View the Full Article

The Northern Michigan Angels investment group recently concluded their 10th year investing in the Northern Michigan economy.

In 2021, the organization reached a new single-year record, investing $1.3 million in seven different companies. Most of the organization’s investments
go into technology and other STEM-based companies, which brings programming, engineering jobs, as well as others, to the region. Northern Michigan Angels is a nonprofit investment group that hears pitches from entrepreneurs. They then offer not only money but also expertise to businesses as they begin operations.

Northern Michigan Angels current and new board members welcomed their new executive director on Nov. 4, 2021 at 20Fathoms. Pictured (from left) are Steve Lang, Dave Summers, Jody Trietch, executive director, Deanna Cannon, board chairperson, Jeff Hamilton, Liz VerSchure, Doug Morgenstern and John Zaloudek.

“We want to create jobs, those high tech jobs that will attract some of the children who are graduating and leave the area and don’t feel like they can come back and live in Traverse City,” said Deanna Cannon, board chair, founding member and former executive director of Northern Michigan Angels. In 2011, Cannon saw a need for an organization that would invest in Northern Michigan businesses and began to look into angel investing. An angel investor is a high-net worth person who uses their own money to invest in start-up companies in exchange for an equity share of the businesses, according to The Angel Capital Association.

Cannon formed an advisory board and the organization officially launched in 2012 with four people volunteering their time to get the organization up and running.

After 10 years as executive director, Cannon stepped down from her position, although she will continue to serve as chairman of the board. In November, Jody Trietch took over as executive director after leaving her position as chief financial officer of Boomerang Catapult.

“I think that there’s incredible opportunity, as more companies either move here or start here, but they need the support and the access to capital,” Trietch said. “So to be a part of that success of those companies in this region is really exciting.”

In 2022, Trietch plans to increase member engagement through workshops, monthly roundtables, pitch meetings and socials. One of the endeavors Northern Michigan Angels helped fund was Thermavance, solid state heating and cooling technology owned by the company Promethient.

Thermavance is built into seats and heats or cools without using airflow. This makes the technology ideal for vehicles like motorcycles that are often exposed
to the elements. Since Thermavance doesn’t use airflow, there are no holes in the seat that can get clogged with dirt or rainwater.

Promethient CEO Bill Meyers said the Northern Michigan Angels have provided diverse industry experience, as well as funding,
“They’ve been a great sounding board for ideas, our business plan. It’s one thing to get an investor but it’s another thing to get, really a consultant that
can help you scale a business, in addition to providing the funds that help you get there,” he said.

According to Cannon, Northern Michigan Angels plans to continue investing in endeavors that can benefit Northern Michigan.

“We say ‘we invest on the jockey, not the horse,’ meaning we invest in the entrepreneur. In their ability to pivot as needed, their ability to take advice,
because that is what is going to be needed along the way,” she said.

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Update From Our Partner: 20Fathoms

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Here is an update from our community partner 20 Fathoms…

“…our inaugural HealthSpark Accelerator wrapped up with our Demo Day last month, but we’ve got news of a brand-new tech event — Northern Michigan Startup Week — kicking off in May 2022.  Our Beer30 networking events have been flourishing, and the Women in Tech meetup is increasing in attendance each month. Feel free to join us and meet more of the startup/tech community!

Other news of interest in this newsletter:

HealthSpark Accelerator graduates first cohort of digital and telehealth startups

The HealthSpark Accelerator, a program of 20Fathoms, recently graduated the 10 companies in the first cohort.  On June 30, they presented their final pitches to a panel of VIP judges and successfully completed the intensive, 12-week program. During the accelerator, these founders networked with industry and investment experts, raised funds, expanded their businesses, made friends, won pitch competitions, and applied their learnings to help scale their businesses.

Meet the Mentor: Dave Summers

Dave is a 20Fathoms mentor, in addition to serving as Vice Chairman of SCORE Traverse City and a Director with Northern Michigan Angels. Over the span of his career, he has worked with over 100 companies in chairman, director, investor, senior leadership, and mentor positions. Recently, we asked him to share some insights from his deep expertise advising companies.

Why coworking and entrepreneurship spaces are crucial to digital economic development

The Center on Rural Innovation recently identified three pieces of necessary infrastructure that rural communities need for digital economy ecosystems: Broadband, coworking and entrepreneurship spaces, and local leadership capacity. They’ve also highlighted how their communities model them, and offer best practices for how other rural communities can enhance their own infrastructure.
Related: 20Fathoms, a nonprofit organization, is now accepting donations via our website. We rely on the support of our community to help us provide educational programming, office space, resources, and community that fuels growth in Northern Michigan.

New Members

We are pleased to welcome (and welcome back) a plethora of new members to our space!

  • Alaura Anderson, Owner/President of Arrowhead Bookkeeping
  • Nick Beadleston, Founding Partner at Good Impacts
  • Marisa Behnke, Customer Experience Strategist at Signet Jewelers
  • Spencer Couturier, Radiologist at Grand Traverse Radiology
  • Joel Evenhouse, Client Success Manager RIA at Betterment
  • Nathaniel Harris
  • Pamela Harris-Kenwabikise, Owner/Operator of Chippewa Creations
  • Jacob Miller, Director of Foundational Informatics, IBM Watson Health
  • Nicole Raphael, Ojimaakwe of Financial Literacy Services by Indigi Qkwe
  • Elaine Tait, Principal and Futurist at Great Lakes GrowthWorks
  • Marion Wabanimkee-Minzey, CEO of MPC Backwoods

Join Our Community

Our members are tech entrepreneurs who include startup leaders, small business owners, chief technology officers, developers, and designers. At 20Fathoms they’ve each found a home and an environment that promotes productivity, creative problem solving, and new connections. Learn more about our workspace.

Northern Michigan Startup Week

Save the Date!: May 9-15, 2022
Join us for Northern Michigan Startup Week, hosted by 20Fathoms in collaboration with Northern Michigan Angels and Newton’s Road. There are three tracks available: High School Invention Competition, College Startup Competition, and the TechStars Startup Weekend.

Beer30

Thursday, Jul. 29 and Aug. 12, 3:30 – 5:30 pm
20Fathoms
Join us for a relaxed evening of beers (provided by The Workshop Brewing Company), conversation, and gorgeous views of West Bay. This is a great way to reconnect with 20Fathoms or check out our new space! Please RSVP.

Women in Tech

Thursday, Aug. 19, 6 – 8 pm
The Filling Station
Women in Tech is a northern Michigan social group for anyone who identifies as a woman and is working in/interested in the tech industry or tech-related roles. They promote building local connections, professional growth, and supporting women entering and advancing in the industry. Questions? Drop us a line at womenintech@workwithloop.com.
In this role of Vice President — IT and Software Engineering (with a 20Fathoms member company), you will leverage your background and expertise in software development, financial services, cloud architectures, and agile methodologies to internally drive the planning and delivery of a custom FinTech platform. Please send resumes and leads to careers@20fathoms.org.
20Fathoms member business Allovance is a software start-up focused on strategic prioritization, strategic alignment, and decision-making. They are seeking a Full Stack React Developer (Contract).
The position of Senior Software Developer is an exciting opportunity to join the growing tech team at Starboard Solutions, a 20Fathoms member business. This is a remote position, although candidates must live in Michigan, Colorado, or Montana.
As a member of the Portland Team, the Associate will be responsible for building, maintaining, and improving advanced financial models. This position requires a high level of understanding of the energy industry and project financing. Please send resumes or leads to careers@20fathoms.org.
20Fathoms seeks to hire an Associate, Strategy & Innovation. As a member of the Innovation Team, this associate will help lead efforts to develop unique energy solutions for data centers utilizing both on- and off-site energy assets. Please send resumes or leads to careers@20fathoms.org.

Job Board for Local and Remote Tech Professionals

Looking for your next opportunity in tech? Check out our Tech Job Board, curated weekly for remote job opportunities for developer, design, and marketing tech professionals.

Local Innovator: Cherry Capital Foods and Tamarack Holdings

Traverse City-based Cherry Capital Foods and their family of companies under the Tamarack Holdings umbrella are local food industry leaders. They, along with partners throughout the state, are working on a grant-funded project to analyze and develop solutions to food waste. They intend to use technology to align supply chain management with consumption.”

Learn More at 20Fathoms.org
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20 Fathoms May Update

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Here are the latest updates from our community partner 20 Fathoms…

 
Virtual Event with Google Cloud’s Director of Global Healthcare Solutions, Aashima Gupta
Thursday, May 6, 12 pm EST
“Digital Health 2025”
In her role at Google Cloud, Aashima Gupta sets the direction for the transformative healthcare solutions and leads engagement with healthcare key executives in helping transform their business strategies that define new models for care, revenue generation and improved patient experiences.Virtual Event with Clinical Officer, Exponential Technologies Center of Excellence at Anthem, Elif Oker, MD
Thursday, May 20, 12 pm EST
“Health in 2026:  The Changing Care Landscape”
In this presentation, Dr. Elif Oker will provide insights into what this new dynamic means for making healthcare more personalized, predictive, and proactive. Participants will also learn how health systems, clinicians, patients and payers are adapting to digital models of care delivery, addressing social drivers of health, and supporting people impacted by the digital divide.

Virtual Event with Co-founder of U.S. Robotics and Principal of Boomerang Catapult, Casey Cowell, and Co-founder & CEO of HealthBridge, Greg VandenBosch
Thursday, Jun. 3, 12 pm EST
“Building an Investor/Tech Startup Relationship”
Highly successful entrepreneurs Casey Cowell and Greg VandenBosch share their expertise on building tech companies and fundraising in the Midwest, far from the coastal startup and investment hubs.
NSF and NVCA: Invention to Impact
May 12, 1:00 pm
Innovation programs at the National Science Foundation (NSF) advance ideas from the laboratory to the marketplace to strengthen America’s economy, health, and security. The Division of Industrial Innovation and Partnerships (IIP) in the Engineering Directorate leads several programs to translate fundamental research into market solutions. IIP supports and trains researchers with promising technologies, as well as funding high-tech startups. Learn about the NSF’s central role in accelerating the growth of the national ecosystem and hear about specific funding opportunities.Scale Up North Awards
The Scale Up North Awards recognize and celebrate the vibrant and varied companies doing business up north, their achievements, and their impact on the community and economy. This year’s finalists for the Emerging Business Award are Common Good Bakery, Earthen Ales, and Taste the Local Difference. Finalists for the Hagerty Scaling Business Award are Higher Grounds Trading Company, Short’s Brewing Company, and Traverse City Whiskey Co. Attend a virtual event:
NEW! Full Stack React Developer (Contract)
20Fathoms member business Allovance is a software start-up focused on strategic prioritization, strategic alignment, and decision-making. They are seeking a full stack JavaScript developer who is proficient with React.js.Full Stack Developer
This is an exciting opportunity to join the growing tech team at Starboard Solutions, a 20Fathoms member business. Starboard was founded on a simple principle: make supply chain design fast, powerful, and catered to the needs of supply chain leaders. This is a remote position, although candidates must live in Michigan, Colorado, or Montana.

Associate (Portland, OR)
As a member of the Portland Team, the Associate will be responsible for building, maintaining, and improving advanced financial models. You will create data‐driven marketing materials for customers to demonstrate the value of energy supply and data and prepare investment memoranda and presentations for team leaders. This position requires a high level of understanding of the energy industry and project financing to support construction and operations of projects including tax equity and debt. Please send resumes or leads to careers@20fathoms.org.

Associate, Strategy & Innovation
20Fathoms seeks to hire an Associate, Strategy & Innovation. As a member of the Innovation Team, this associate will help lead efforts to develop unique energy solutions for data centers utilizing both on- and off-site energy assets. Responsibilities include market research, investor communications, financial modeling, and utility data analysis. This position requires a high level of understanding of the energy industry, as well experience in banking, consulting, or transaction advisory services. Please send resumes or leads to careers@20fathoms.org.

Americorps VISTA: TCNewTech & 20Fathoms
TCNewTech and 20Fathoms seek an Americorps VISTA for a full-time, 12-month volunteer position based in Traverse City, Michigan. In this position, the VISTA will help expand organizational capacity through community outreach and membership program support. Contact keri@20fathoms.org with questions.

Dell Boomi Integration Developer
20Fathoms seeks to hire a Dell Boomi Integration Developer to join a global team building out a world-class FinTech platform. This position requires you to be hard-working, dedicated, and desirous of being part of a major disrupter in healthcare and fintech industries. You must be experienced with cloud-based architecture and comfortable working in a cross-functional team, in addition to other requirements. Send leads/referrals to careers@20fathoms.org and Erich will follow up with them.

Software Development Engineer
20Fathoms seeks to hire a Software Development Engineer to work collaboratively in a global team to build and implement a world-class cloud-based FinTech platform. You’ll be building out RESTful APIs using Java and Spring Boot or Hibernate, solving bottlenecks within an Agile team environment, working with cross-functional teams, and more! Send Leads/referrals to careers@20fathoms.org and Erich will follow up with them.

Job Board for Local and Remote Tech Professionals
Looking for your next opportunity in tech? Check out our Tech Job Board, curated weekly for remote job opportunities for developer, design, and marketing tech professionals.

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