Socio and Aerotronic top Indianapolis' recent funding news

Socio and Aerotronic top Indianapolis' recent funding news
Photo: Crunchbase
By Hoodline - Published on August 15, 2019.

Indianapolis-based events company Socio has secured $6 million in Series A funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced July 30.

According to its Crunchbase profile, "Socio provides an event app that surrounds your live events. Create your app in minutes and let your attendees enjoy an unforgettable experience!"

The three-year-old startup also raised a $725,000 seed round in 2018.

Over the past year, three Indianapolis-based events companies have secured venture funding, totaling $6.9 million in new investment to the local industry.

In other local funding news, transportation and artificial intelligence company Aerotronic announced a $50,000 grant on August 8, financed by PlanetM.

According to Crunchbase, "Summary Aerotronic is a data analytics company that uses aerial and ground data to report on the health of power lines at a significant cost reduction versus existing solutions. Problem Powerline inspections today are qualitative, done manually, and stored as hard copies. Engineers fly in a manned helicopter and take notes on the condition of the lines."

The company also raised a $120,000 pre-seed round in 2018.

This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.