DART Music has completed a raise of $1.5 million, capital that will help the Nashville-based start-up continue its focus on changing how classical musicians organize and categorize digital distribution.
DART will soon file SEC documentation for the raise, according to company officials, who told the Post their seed-stage effort is complete. Now the focus will be on product development and growth, according to CEO Chris McMurtry.
DART's goal is to create and track classical music metadata, McMurtry (pictured) said. Like one of the ongoing themes at Project Music, the company’s mission is to allow classical musicians to maximize their royalties payments. DART bills itself as the first company to offer a fully automated distribution platform for classical music metadata.
“There’s not a way for an independent creator to get their music to an online store without giving up 50 percent of their royalties,” McMurtry said. “That was the organic journey that led us to start.”
DART is a recent graduate of Project Music, a music-business accelerator the Entrepreneur Center hosts.
The company, which ranks among the accelerator’s first graduating class, is noteworthy among early-stage ventures in Nashville due partially to its current partnership and past association with Apple.
DART Chief Marketing Officer Richard Jacobson stressed the company is comfortable with it focus on classical musicians.
“I wholeheartedly believe that doing the right thing and doing the profitable thing can be the same thing,” Jacobson said of a musical genre that is often overlooked and misunderstood. “That’s why DART exists and that’s what we are going to do.”
Cardiac technology company InvisionHeart is the newest tenant at the CET Life Sciences Center, a partnership between Cumberland Pharmaceuticals, Vanderbilt University and the state of Tennessee.
"We are very pleased to welcome InvisionHeart to the growing community of health care entrepreneurs at the CET Life Sciences Center," A.J. Kazimi, Cumberland Pharmaceuticals CEO, said in a release. "We are committed to helping build the biomedical segment of the health care industry in Middle Tennessee."
InvisionHeart raised $1.9 million last year and most recently hired Melanie Varin, formerly with GE Healthcare, to lead commercialization efforts. The company's devices allow health care providers to read and transmit real-time electrocardiogram tracings to cardiologists. The company is the sixth tenant at the CET Life Sciences Center.
"We are delighted to join the community of companies at the CET Life Sciences Center,” said Josh Nickols, President and CEO of InvisionHeart. “Our office is a great fit for the needs of a collaborative, team-oriented layout, as well as being suited to the requirements of a controlled manufacturing location. The center is conveniently located near the resources of Vanderbilt University, the Nashville Entrepreneur Center, and other healthcare companies that have supported development of the InvisionHeart ECG technology. This location and the second half of 2015 will be vitally important as we prepare for the introduction of our products to the market."
Jumpstart Foundry has announced some speakers and the agenda of its inaugural Health:Further conference will be held Aug. 19-20 in Nashville.
The conference will feature speakers and sessions on "inclusive innovation" in health care, which brings together entrepreneurs and health care executives. The conference will also cover business model innovation, technology innovation and startup innovation, and Jumpstart Foundry's business accelerator demo day will also take place during the event.
Speakers will include the following, with more to be announced:
• Dawn Rudolph – Chief Customer Experience Officer, Saint Thomas Health
• Doug Ghertner – President and CEO, Change Healthcare
• Lee Farabaugh – Chief Experience Officer, PointClear Solutions
• Congressman Jim Cooper, Tennessee 5th District
• Rob Coppedge – Senior Vice President, Cambia Health Solutions
• Ed Cantwell – Executive Director, Center for Medical Interoperability
• Unity Stoakes – Co-founder and President, StartUp Health
• Michael Burcham – CEO, Narus Health
• Sal Novin – AVP of Product Management, TriZetto Corporation
• Justin Ishbia – Managing Partner, Shore Capital Partners
For more on today's announcement, visit our Southern/alpha blog.
Automotive accelerator program autoXLR8R, which is now being run by regional venture development organization Tech 2020, is on the hunt for its third cohort of startups. The nine-week program was started by the Southern Middle Tennessee Entrepreneur Center in 2013 and will this year be run from Tech 2020's Oak Ridge offices. Classes will start July 6 and take place in various meeting locations but the Tech 2020 team also will utilize online platforms to be more accessible to participants and gather a wider audience.
"We are moving to an online/remote based program delivery, which will minimize disruption of the entrepreneur's normal business activities and it also removes geography as a constraint,” Shawn Carson, Tech 2020's director of venture development, said in a release. “We expect to have participants from across Tennessee and the Southeast."
Tech 2020 also has connections with the University of Tennessee and UT Research Foundation.
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