Fullcast is acquired in a $34M seed round that challenges gender disparities in venture capital by attracting investments from around 30 women investors.
Nature’s Bakery, part of the Mars Inc. family of brands, announces a 339,000 sq. ft. baking facility in Salt Lake City to be operational by July 2025. With a $237M investment, the project adds over 190 jobs, aided by a post-performance tax incentive under Utah’s Economic Development Tax Increment Financing program.
Utah First Credit Union becomes the name-in-title sponsor of Salt Lake City’s iconic outdoor venue, formerly USANA Amphitheatre, now operating as Utah First Credit Union Amphitheatre.
Altitude Lab announces that its incubating startups raised over $120M in early-stage funding since commencing operations in 2020. Altitude Lab was founded by Recursion to support burgeoning startups and underrepresented entrepreneurs in Utah with fully equipped laboratories, a network of investors, business operations education and a community of founders.
The Utah State Board of Education approves a contract to implement a comprehensive safety solution for all Utah public K-12 schools, including charter schools. This initiative integrates ZeroEyes’ AI-based gun detection with AEGIX Global’s incident management services.
MountainWest Capital Network announces David S. Layton, president and CEO of Layton Construction, as its 2024 Entrepreneur of the Year.
Tandem Ventures announces a $20M first close of its debut $30M early-stage venture fund. The fund will invest in companies at the Pre-Seed, Seed and Series A stages.
NarcX+ becomes the only independently validated product to dispose of illicit fentanyl rendering it non-retrievable within minutes.
University of Utah’s Lassonde Entrepreneur Institute launches the Utah Founders website.
The MVP Program opens in Sandy to provide interim housing for medically vulnerable homeless individuals, including veterans and seniors, with assistance from The Road Home, Fourth Street Clinic and Shelter the Homeless.
Utah Radon Services organizes a radon awareness media event with the University of Utah, Huntsman Cancer Institute, Utah Department of Environmental Quality and several residents impacted by radon-induced lung cancer.
Two Northrop Grumman 63XL boosters power ULA’s Vulcan Rocket’s maiden flight, providing two-thirds of its liftoff thrust.
Wingspan, a new venture studio based in Utah, announces its launch with two investments and a partnership with Tech9.
FUNDING
| Recipient | Funding Amount | Led By |
|---|---|---|
| Fullcast | $34M | EPIC Ventures |
| Halia Therapeutics | $30M, Series C | Todd Pedersen |
| Savi Solutions | $12M, Series A | Next Coast Ventures |
| PredictAP | $8M, Series A | RET Ventures |
| Crew | $2.5M, pre-seed | Kickstart Fund |
| Opiniion | DND, Series A | Five Elms Capital |
M&A ACTIVITY
Mergers
- Maschoff Brennan merges with Mauriel Kapouytian Woods
- TruGolf Inc. merges with Deep Medicine Acquisition Corp.
Acquisitions by Utah companies
- Convenient Brands acquires Web-Est
- Crucial Learning acquires Core Strengths
- Diversify Wealth Management acquires Caliber Wealth Management, FirstPurpose Wealth and Diversify Inc.
- Graphium Health acquires The ABG Anesthesia Data Group
- Intelvio acquires Classward
- JobNimbus acquires SumoQuote
- MyAdvice acquires Ceatus Media Group LLC
- PocketList Inc. acquires ALTA Finance Inc.
- Savory Fund acquires South Block
- Utah Housing Preservation Fund acquires Sunset Springs Apartments
- Wingspan Studios acquires Volley
Acquisitions of Utah companies
- 360training acquires Mortgage Educators and Compliance
- Dayton Superior acquires HK Composites
- NewMarket Corporation acquires American Pacific Corporation
- QA1 Precision Products Inc. acquires substantially all of Speedtech Performance USA’s assets
- Quality Collision Group acquires Cascade Collision Repair
- Quincy Compressor acquires the assets of Hycomp Inc.
