Teal Drones is selected by the U.S. Army to provide thousands of small surveillance drones for its Short Range Reconnaissance program.
JobNimbus announces a $330M growth investment from Sumeru Equity Partners, the largest Series B in Utah history.
The U.S. Department of Commerce’s Bureau of Economic Analysis releases data showing that Utah’s outdoor recreation economy reached a record-breaking $9.5B in 2023, contributing 3.4 percent of Utah’s GDP and supporting over 71,000 jobs.
Savage Tooele Railroad begins construction of a rail line — the first new railroad in Utah in over 80 years — in Tooele County.
The Utah Inland Port Authority and the Utah Department of Environmental Quality are awarded a $112.4M grant through the Environmental Protection Agency’s Clean Ports Program. The funding will be directed toward reducing emissions at the Salt Lake City Intermodal Terminal.
Ionic MT secures Silicon Ridge, a 4,000-acre Halloysite lease, to support next-generation battery material production.
BEDGEAR announces the grand opening of its new manufacturing and distribution facilities and the relocation its west coast headquarters to Salt Lake City.
The Salt Lake Chamber unveils Utah’s first-ever statewide free enterprise vision, Utah Rising.
The Utah Symphony announces the appointment of Markus Poschner as the eighth music director in the orchestra’s 84-year history.
USA Climbing partners with Momentum Climbing to operate its National Training Center.
The Small Business Administration announces that, for the fifth year in a row, Mountain America Credit Union made the most 7(a) loans among credit unions nationally in 2024.
Utah Valley University (UVU) President Astrid S. Tuminez announces the university’s new Applied Artificial Intelligence Institute.
The Princeton Review ranks the University of Utah’s David Eccles School of Business No. 3 for undergraduate and graduate entrepreneurship education in the West.
Trucordia celebrates the opening of its new headquarters in Lindon.
The Utah Hockey Club announces Ski Utah as its inaugural season practice jersey patch partner.
Lagoon’s interactive 3D coaster, Primordial, wins IAAPA’s 2024 Brass Ring Award for Best New Product in the Major Ride/Attraction category.
FUNDING
| Recipient | Funding Amount | Led By |
|---|---|---|
| JobNimbus | $330M, Series B | Sumeru Equity Partners |
| Leland | $12M, Series A | Forerunner Ventures |
| Polaris Modular | $6.25M, Series A | Sentry Financial, HSL Properties |
M&A ACTIVITY
Mergers
- Recursion merges with Exscientia
Acquisitions by Utah companies
- Burt Brothers Tire & Service Inc. acquires Tire Buster service centers in Payson and American Fork
- Merit Medical Systems acquires Cook Medical
- Sunroc Corporation acquires M.A. Concrete Construction Inc.
- Zeo Energy Corp. acquires Lumio Holdings Inc.
Acquisitions of Utah companies
