Innovation center will be first U.S.-based R&D site for MitsubishiBy Eli Chavez One month after Nvidia announced plans to launch a new research center in Boston, an international electronics company has announced it will be bringing its resources to Boston with an innovation center in Cambridge. The Mitsubishi Electric U.S., an affiliate of Mitsubishi Electric Corp., announced that it […]
Ashley Capoot IBM on Monday announced it will invest $150 billion in the U.S. over the next five years, including more than $30 billion to advance American manufacturing of its mainframe and quantum computers. “We have been focused on American jobs and manufacturing since our founding 114 years ago, and with this investment and manufacturing commitment we are […]
By Lauren Ohnesorge Red Hat is buying Neural Magic, an artificial intelligence firm based in the Boston area. Executives at the IBM (NYSE: IBM) subsidiary headquartered in North Carolina describe it as a play to level up in AI. “Red Hat has a long history of being open-sourced focused,” said Chris Wright, CTO of Red Hat, during a […]
By Lucia Maffei Locus Robotics broke ground over a year ago at its Wilmington headquarters. After moving into the 157,000-square-foot building over the summer, the 9-year-old company — a manufacturer of robots for fulfillment warehouses for customers such as DHL and UPS — is planning to add members to its local team of 200 and growing its $150 million annual […]
By Eli Chavez Somerville-based SparkCharge Inc. has received $13 million in equity and other securities from 20 investors, according to a regulatory filing. The mobile electric car charging company is targeting an equity offering with a total value of $19 million, according to the filing this summer with the U.S. Securities and Exchange Commission. According to the filing, […]
By Jim Morrison The US Justice Department and attorneys general in eight states are suing a popular AI-enabled property management software system over alleged anti-trust violations. The Justice Department — and the states of North Carolina, California, Colorado, Connecticut, Minnesota, Oregon, Tennessee, and Washington — accuse RealPage Inc. of violating the Sherman Act and harming “millions […]
By Hannah Green The Cambridge company behind the technology that enabled the first-ever pig-to-human kidney transplant earlier this year has raised a mega-round of funding. The biotech eGenesis said on Wednesday that it has closed a $191 million Series D financing led by Lux Capital. Existing investors including Arch Ventures and Leaps by Bayer, as well new investors, also […]
By Greg Ryan A unit of the German software maker SAP is subleasing a floor of office space at 60 State St. in downtown Boston, nearly doubling its footprint at its Watertown location. SAP LeanIX (NYSE: SAP) is taking about 25,000 square feet from LinkSquares at the Boston office tower, with plans to move into the […]
By Hannah Green Venture capital funding to life sciences companies appears to be rebounding nationally after a few down years, according to new data from Pitchbook and the National Venture Capital Association. But that’s not the case among Massachusetts life sciences companies. Nationally, life sciences companies brought in $19.3 billion in the first six months of 2024. Last […]
By Lucia Maffei Shares of HubSpot Inc. plunged in Wednesday afternoon trading after Bloomberg reported that Google parent company Alphabet put the brakes on its rumored acquisition of the Cambridge-based marketing firm. On Wednesday HubSpot’s stock (NYSE: HUBS) closed down 12.22%, giving the company a market capitalization of $25.06 billion. When rumors of a potential deal first emerged in April, the markets were valuing […]
