Bottom Line Up Front (BLUF)
In this month’s Doubleshot Newsletter, you will find:
- Builder Highlight: Recap of Midcontinent Venture Capital Summit 2023
- Team Highlight: J.D. Baker named No. 1 Most Powerful Young Professional
- LP Highlight: Center for Advancement of Science & Technology
- Cortado News
- PortCo Updates
- Ecosystem News & Events
Builder Highlight: Midcontinent VC Summit
We want to extend our heartfelt thanks to all the speakers, sponsors and attendees who made the first-ever Midcontinent Venture Capital Summit a resounding success. The event, hosted by Cortado Ventures, was held on May 10th at the First National Center in Oklahoma City and saw over $100B represented by investors and startups, showcasing the growing tech industry outside coastal bubbles. We had over 230 attendees join us from 35 different cities, 14 states, the District of Columbia and 5 different countries including Mexico, Pakistan and India. Check out this highlight reel and read local media coverage here.
LP Highlight: OCAST Invests $20 Million
We’d like to highlight our latest LP: the Center for Advancement of Science & Technology is officially an institutional investor after Cortado secured a $20 million investment from OCAST’s allocation of the U.S. Treasury’s SSBCI funds for our Fund II. Read more on this historic investment here.
At the same time, Cortado Ventures recently joined with national partner AgLaunch, the Oklahoma Farm Bureau and others to launch the Grassroots Rural and Ag Business Accelerator, an economic development initiative aiming to stimulate innovation across rural Oklahoma. OCAST’s investment in Cortado will further promote the Cultivate Oklahoma pipeline, a program focused on emerging agricultural technologies. Applications for its accelerators close on May 19th. Find more info here.
Team Highlight: J.D. Baker named No. 1
Cortado’s Platform Manager, J.D. Baker, was recently named the No. 1 young professional in OKC Friday’s “Most Powerful Young Professionals.” He is a sixth-generation Oklahoma Cityan, achieving an impressive accomplishment by reaching the top spot in this year’s ballot. He has consistently ranked in the top 10 since publication began the rankings in 2020. Read more on J.D.’s impressive rise to no. 1.
Cortado News:
Startup 101: Common Mistakes Startups Make & How To Fix Them
Starting a new business is exciting but fraught with challenges and potential pitfalls. In his latest blog post, venture executive Cody Merrill writes some of the most common mistakes startups make and offers practical advice on overcoming them. From underestimating the importance of customer research to failing to build a strong team, our team’s insights provide valuable guidance for anyone looking to launch a successful startup. Whether you’re a seasoned entrepreneur or just starting, be sure to read the full blog here.
PortCo News:
Recuro Health Closes Series B Funding Round
Recuro Health, an integrated digital health solutions company designed to transition the U.S. healthcare system from a reactive, disease-focused model to a proactive care approach, today announces the closing of a $47 million Series B round investment. The Series B syndicate includes both new and existing investors, including ARCH Venture Partners, Cortado Ventures, the Flippen Group, GPG Ventures, 4D Capital and other investors. Read More Here.
Ox Closes Series A Funding Round
One of our portfolio companies, Ox, a top supplier of human-centered automation technology for the supply chain industry, has successfully completed a $12.6 million Series A funding round. The goal is to innovate human-centered AI to improve frontline supply chain operations significantly. Click here to read more on Ox’s innovative wearable technology and how it’s transforming the supply chain industry.
TechCrunch: Nuview emerges from stealth with plans to map the Earth using lidar
Cortado Ventures portco Nuview has emerged out of stealth mode this month. Dozens of established players and newer entrants are competing to bring the most cutting-edge remote sensing data to customers. These companies may use other instruments — but none, as of yet, use light detection and ranging (lidar). Nuview, a geospatial technology company, wants to change that. The company aims to build out a constellation of 20 commercial satellites outfitted with its proprietary lidar system. The “endgame,” as founder and CEO Clint Graumann put it, is to map the entire land surface of the Earth with lidar — on an annual basis. Investors in this fasciniting startup include Florida Funders, MaC Venture Capital, Broom Ventures, Cortado Ventures and Industrious Ventures. Read More Here.
Wendy’s Partners with Pipedream to Pilot Industry-First Underground Delivery System for Mobile Orders
This week, Fast food chain Wendy’s and Cortado portco Pipedream Labs announced its partnership to pilot its underground autonomous robot system with the goal of delivering digital food orders from the kitchen to designated parking spots in seconds, for faster and more convenient pick-up experiences. Read More Here. Check out perspective from Pipedream Labs CEO Garrett McCurrach.
Women’s Healthcare Company Watkins-Conti Completes Clinical Trial Of Stress Urinary Incontinence Device Yōni.Fit
Oklahoma-based Watkins-Conti Products, Inc., a healthcare company that develops solutions for often-overlooked issues affecting women at every stage of life, announced last month that it has successfully completed a clinical trial studying the safety and effectiveness of its flagship product, Yōni.Fit. Yōni.Fit is a vaginal insert designed to manage stress urinary incontinence (SUI), the involuntary leakage of urine upon physical activity or pressure on the bladder. Read More Here.
Ecosystem News & Events:
Myri Health included in latest Tulsa Techstars Class
The Build in Tulsa Techstars Accelerator announced their Summer Class of 2023 Companies. After a rigorous selection process, the accelerator chose 12 companies led by underrepresented founders who are committed to changing how we do life and business around the world. This class includes Cortado Ventures portco Myri Health, led by Dr. Pinkey Patel. Read More Here.
Axios: VCs make it rain in Northwest Arkansas
Fellow Oklahoma-based VC fund and capital partner Atento Capital was featured in Axios this past month for its new fund announcement and its investment in NW Arkansas, including our co-investment in Ox, after the logistics startup closed its Series A funding round. Read More Here.
Event: Every month, Atento Capital hosts a “First Friday” Mixer at its Tulsa headquarters, bringing together much of the Oklahoma and NW Arkansas ecosystems. Check out their upcoming event on June 2nd. RSVP Here.
Builders and Backers Applications Open
Have you been wanting to take that idea you’ve been thinking about and turn it into something real? There’s a Builders + Backers Idea Accelerator in Tulsa that lets you do just that. To apply, all you need is an idea that you want to turn into something and a willingness to learn world-class entrepreneurial approaches to testing that idea. Those chosen for the Idea Accelerator will be eligible for up to $5,000 in funding to fuel their work. Spots for the Tulsa cohort are limited so head over to the application here.