60 HARTFORDBUSINESS.COM | 2024 BOOK OF LISTS
I N N O VAT I O N
LARGEST CONNECTICUT INNOVATIONS AID RECIPIENTS
Ranked by amount of funding, then amount leveraged in FY 2023
Largest Connecticut Innovations aid recipients
Ranked by amount of funding, then amount leveraged in FY 2023
Recipient Type of business Amount funded Amount leveraged (1)
Type of funding/
fund Top executive
1
VeraDermics
85 Memorial Road
West Hartford, CT 06107
847-641-0412; vereadermics.com
Healthcare $3,388,748 $12,600,002
Equity
CBIF
SSBCI
Reid Waldman
2
Holisto LTD (2)
177 W. Putnam Ave.
Greenwich, CT 06830
888-556-8357; holisto.com
Information technology $2,500,000 $2,500,000
Debt
Venture debt
Eran Shust
3
Inbox Health Corp.
770 Chapel St.
New Haven, CT 06510
866-480-2699; inboxhealth.com
Information technology $2,339,525 $18,160,475
Equity
Eli Whitney
Blake Walker
4
Populi Inc. (3)
400 Farmington Ave.
Farmington, CT 06032
populi.ai
Healthcare $2,150,000 $2,850,000
Equity
(4)
Eli Whitney
Venture debt
Billy Moschella
5
Triumph Engine Control Systems (5)
1 Charter Oak Blvd.
West Hartford, CT 06110
860-236-0651; triumphgroup.com
Manufacturing $2,000,000 $0
Loan
WorkA
Frank Laudato
6
Athletic Brewing Co.
75 Cascade Blvd.
Milford, CT 06460
888-399-2148; athleticbrewing.com
Consumer $1,999,949 $73,000,051
Equity
Eli Whitney
William Sufelt
7
Enko Chem Inc.
62 Maritime Drive
Mystic, CT 06355
enkochem.com
Healthcare $1,632,409 $78,367,591
Equity
CBIF
Jacqueline Heard
8
Medtel.com Inc.
One Park Ave.
Greenwich, CT 06870
203-344-1145; medtel.com
Healthcare $1,327,512 $1,233,847
Equity
CBIF
Harold Mondschein
9
Oova Inc.
Stamford, CT
oova.life
Healthcare $1,000,000 $6,189,172
Equity
CBIF
Amy Divaraniya
10
Hally Hair Inc.
New Canaan, CT
hallyhair.com
Consumer $1,000,000 $4,674,996
Equity
Future fund
Kathryn Winokur
11
Vita Health Services PLLC
4 Science Park
New Haven, CT 06511
vitahealth.care
Healthcare $1,000,000 $3,840,820
Equity
SSBCI
Lynn Hamilton
12
Driver Technologies Inc.
85 Delancey St.
New York, NY 10012
drivertechnologies.com
Information technology $1,000,000 $3,394,850
Convertible debt
Eli Whitney
Rashid Galadanci
13
Smart Feed Tech Inc.
Berlin, CT
brightfeeds.com
Climate technology $1,000,000 $3,000,000
SAFE note
Climate tech
Jonathan Fife
13
Torigen Pharmaceuticals
6 Executive Drive
Farmington, CT 06032
860-519-9956; torigen.com
Bioscience $1,000,000 $3,000,000
Debt
Venture debt
Ashley Kalinauskas
15
BioWave Corp.
8 Knight St.
Norwalk, CT 06851
877-246-9283; biowave.com
Healthcare $1,000,000 $0
Debt
Venture debt
Bradford Siff
Source: CT Innovations and company websites
Note: N/A = Not available; CBIF = Connecticut Bioscience Innovation Fund; SSBCI = State Small Business Credit Initiative.
(1) Represents amount company was able to secure via other sources such as bank lenders or venture capital investors.
(2) Formerly Splitty Travel.
(3) Acquir e on Aug. 14, 2023.
(4) Also debt funding.
(5) Additional location in Windsor.
-Compiled by Stephanie R. Meagher, research@nebusinessmedia.com
