Two Middleton companies have been selected by the Wisconsin Housing and Economic Development Authority to receive venture capital funding from the State Small Business Credit Initiative.
Xolve, which manufactures grapheme, the strongest and most conductive material, has secured $2 million in funding.
Hopster, a media platform that connects packaged goods brands with shoppers, will receive $1.5 million.
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The funding is in the form of preferred stock equity investments.
This round of financing was led by NEW Capital Fund, Wisconsin Investment Partners and the Wisconsin Economic Development Corp. NEW Capital Fund is one of three Wisconsin-based investment managers chosen by WHEDA to administer job creation funding.