2025 BOOK OF LISTS | HARTFORDBUSINESS.COM 55
I N N O VAT I O N
LARGEST CONNECTICUT INNOVATIONS AID RECIPIENTS
Continued from page 52
Largest Connecticut Innovations aid recipients
Ranked by amount of funding, then amount leveraged in FY 2024
Recipient Type of business Amount funded Amount leveraged (1)
Type of funding/
fund Top executive
1
Athletic Brewing Co.
75 Cascade Blvd.
Milford, CT 06460
888-399-2148; athleticbrewing.com
Consumer $5,000,000 $10,000,000
Debt
Venture debt
William Shufelt
2
Savant Systems Inc.
45 Perseverance Way
Hyannis, MA 02601
508-683-2500; savant.com
Climate technology $3,000,000 $8,000,000
Debt
Venture debt
Roy Simpson
3
Nuovo Pasta LLC
1330 Honeyspot Road
Stratford, CT 06615
203-380-4090; nuovopasta.com
Manufacturing $3,000,000 $0
Debt
Venture debt
Carl Zuanelli
4
Enertiv Inc.
228 Park Ave.
New York, NY 10018
646-350-3525; enertiv.com
Climate technology $2,500,000 $1,251,000
Debt
Venture debt
SSBCI
Connell McGill
5
Perosphere Inc.
20 Kenosia Ave.
Danbury, CT 06810
203-885-1111; perosphere.com
Bioscience $2,000,000 $11,000,000
Equity
SSBCI
Steve Ward
6
H2O Farm
929 Boston Post Road
Guilford, CT 06437
203-533-7270; h2o-farm.com
Hydroponically-grown leafy
greens
$2,000,000 $2,000,000
Debt
Venture debt
SSBCI
Chaim Tova
7
Quantum Circuits Inc.
25 Science Park
New Haven, CT 06520
203-891-6216; quantumcircuits.com
Technology $1,500,000 $27,108,680
Equity
Eli Whitney
Martin Menngwall
8
Intellihealth Inc.
69 Grove St., 2nd Floor
New Canaan, CT 06840
intellihealth.co
Healthcare $1,500,000 $14,949,997
Equity
Future fund
SSBCI
Sloan Saunders
9
Aware Recovery Care
556 Washington Ave., Unit 201
North Haven, CT 06473
203-779-5799; awarerecoverycare.com
Healthcare $1,500,000 $2,000,000
Convertible debt
Eli Whitney
Brian Holzer
10
ProteoWise
34 Bryan Road
Branford, CT 06405
203-430-4187; proteowise.com
Healthcare $1,499,999 $3,515,409
Equity
SSBCI
Erik Gunther
11
Collegiate Sports Management
Group Inc.
2 Landmark Square, Suite 211
Stamford, CT 06901
collegiatesmg.com
Technology $1,400,000 $1,400,000
Debt
Venture debt
SSBCI
Michael Schreck
12
reThought Insurance Corp.
11001 W. 120th Ave., Suite 400
Br CT 80021
888-380-3124; r
Climate technology $1,000,000 $10,500,000
SAFE note
Climate tech
Cory Isaacson
13
Noteworthy AI Inc.
9 W. Broad St., Suite 320
Stamford, CT 06902
203-902-5256; noteworthy.ai
Climate technology $1,000,000 $2,166,904
Equity
Climate tech
SSBCI
Christopher Ricciuti
14
Conduce Health
220 5th A
New York, NY 10001
conducehealth.com
Healthcare $1,000,000 $2,000,000
Convertible debt
SSBCI
Eric Rosow
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.
-Compiled by Stephanie R. Meagher, research@nebusinessmedia.com
4
New York, NY 10018
646-350-3525; enertiv.com
Climate technology $2,500,000 $1,251,000 Venture debt
SSBCI
Connell McGill
5
Perosphere Inc.
20 Kenosia Ave.
Danbury, CT 06810
203-885-1111; perosphere.com
Bioscience $2,000,000 $11,000,000
Equity
SSBCI
Steve Ward
6
H2O Farm
929 Boston Post Road
Guilford, CT 06437
203-533-7270; h2o-farm.com
Hydroponically-grown leafy
greens
$2,000,000 $2,000,000
Debt
Venture debt
SSBCI
Chaim Tova
7
Quantum Circuits Inc.
25 Science Park
New Haven, CT 06520
203-891-6216; quantumcircuits.com
Technology $1,500,000 $27,108,680
Equity
Eli Whitney
Martin Menngwall
8
Intellihealth Inc.
69 Grove St., 2nd Floor
New Canaan, CT 06840
intellihealth.co
Healthcare $1,500,000 $14,949,997
Equity
Future fund
SSBCI
Sloan Saunders
9
Aware Recovery Care
556 Washington Ave., Unit 201
North Haven, CT 06473
203-779-5799; awarerecoverycare.com
Healthcare $1,500,000 $2,000,000
Convertible debt
Eli Whitney
Brian Holzer
10
ProteoWise
34 Bryan Road
Branford, CT 06405
203-430-4187; proteowise.com
Healthcare $1,499,999 $3,515,409
Equity
SSBCI
Erik Gunther
11
Collegiate Sports Management
Group Inc.
2 Landmark Square, Suite 211
Stamford, CT 06901
collegiatesmg.com
Technology $1,400,000 $1,400,000
Debt
Venture debt
SSBCI
Michael Schreck
12
reThought Insurance Corp.
11001 W. 120th Ave., Suite 400
Br
CT 80021
888-380-3124; r
Climate technology $1,000,000 $10,500,000
SAFE note
Climate tech
Cory Isaacson
13
Noteworthy AI Inc.
9 W. Broad St., Suite 320
Stamford, CT 06902
203-902-5256; noteworthy.ai
Climate technology $1,000,000 $2,166,904
Equity
Climate tech
SSBCI
Christopher Ricciuti
14
Conduce Health
220 5th A
New York, NY 10001
conducehealth.com
Healthcare $1,000,000 $2,000,000
Convertible debt
SSBCI
Eric Rosow
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.
-Compiled by Stephanie R. Meagher, research@nebusinessmedia.com
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