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Tag: Tekmetric

Tekmetric to spend $1,200,000.00 to occupy 11,996 square feet of space in Houston Texas.

Tekmetric to spend $1,200,000.00 to occupy 11,996 square feet of space in Houston Texas.

March 29, 2024 Craig Etkin

Houston, Texas — According to state and local development sources, Tekmetric plans to invest $1,200,000.00 to build out 11,996 square feet of new space in Houston. The company plans to occupy the new space at…

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L3Harris Technologies has entered into an agreement with Orange County, Virginia, to fund the expansion and modernization of the company’s site in the county. The effort is intended to increase solid rocket motor production while growing the company’s presence in the Commonwealth. L3Harris plans to construct new facilities, purchase new equipment and hire 80 new employees over the next three years. The majority of the $41.2 million investment will come from the cooperative agreement Aerojet Rocketdyne, an L3Harris company, signed with the Department of Defense last year. The company is also contributing internal capital. Additionally, the Commonwealth and Orange County are providing L3Harris a combined total of about $2.18 million in incentives to support site improvement and construction efforts.

“This agreement builds upon company and U.S. government investments in our solid rocket motor production capabilities for critical defense systems,” said Ross Niebergall, President, Aerojet Rocketdyne, L3Harris. “We have been a part of the Virginia community for decades and look forward to growing our talented workforce here as we produce the vital propulsion that helps protect our nation and its allies.” The company’s Orange County site is home to some of the most advanced defense and space propulsion research, development and manufacturing operations in the world. The site includes the Orange Altitude Test Facility, a fully-equipped propellant lab and a state-of-the-art air-breathing test facility. L3Harris Technologies is the Trusted Disruptor in the defense industry. With customers’ mission-critical needs always in mind, our more than 50,000 employees deliver end-to-end technology solutions connecting the space, air, land, sea and cyber domains in the interest of national security.

Source: https://www.intelligence360.io/ and https://intelligence360.news/

CoverTree, a cutting-edge insurtech company specializing in manufactured home insurance solutions, announced today the successful completion of a $13 million Series A funding round led by Portage, with participation from investors such as AV8, Distributed Ventures, Detroit Venture Partners, Ludlow Ventures, Annox Capital, and more. To date, CoverTree has raised $23M to provide affordable insurance solutions to the growing manufactured housing economy. This Series A investment underscores the growing demand for modernized insurance products in the ever-evolving homeownership industry.

The funds raised will empower CoverTree to accelerate its mission of reshaping the home insurance sector and further build out an enterprise suite including the launch of Maple, a resident insurance management software for property managers, Bonsai a binding and underwriting platform for independent agents and lenders, and Sequoia an automated underwriting and quoting system for insurance book conversions. The Series A round marks a pivotal moment for the company, allowing it to expand its product offerings and strengthen its market presence within a historically overlooked market. CoverTree is an insurtech company headquartered in Detroit, Michigan. The company focuses on bringing digital distribution, automated underwriting, and data-driven pricing to specialty personal lines of insurance.

Source: https://www.intelligence360.io/ and https://intelligence360.news/

Legion Technologies, an innovator in workforce management (WFM), today announced a $50 million growth round led by Riverwood Capital with strategic participation from existing investors, including Norwest, Stripes, Webb Investment Network, and XYZ. The raise, which brings Legion’s total funding to $145 million, will boost its go-to-market and research and development (R&D) initiatives to deliver an enhanced WFM experience to a growing global customer base. Legion will use the funds to fuel continued innovations in workforce management, including deep investments in R&D and expansion of solutions like Legion’s InstantPay product. With an increased focus on the intelligent automation of WFM, Legion will augment its industry-leading product with new features and updates to optimize labor operations, generate more accurate staffing schedules, reduce time spent by managers on administration, and ease compliance with labor laws around the world. Informed by market trends and ongoing feedback, these efforts will ensure the WFM platform significantly contributes to the employee experience, enabling greater flexibility while boosting productivity.

“Legion was founded to turn hourly jobs into good jobs by simultaneously streamlining labor operations and improving the employee experience. This new capital not only reinforces the importance of our purpose but it validates our ability to bring that purpose to life,” said Sanish Mondkar, founder and CEO of Legion. “The intelligently automated, employee-centric nature of Legion’s solution has pushed us to the forefront of the industry, and, with the addition of this funding, we can further invest in creating a better experience for hourly employees on a global scale.”

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