There were three significant venture capital investments in Maine companies in the first quarter, valued at a total of roughly $6 million, according to an investor report issued Wednesday.
The PricewaterhouseCoopers/CB Insights MoneyTree Report said the York-based online youth banking service Ourly, Westbrook-based home energy storage provider Pika Energy, and Biddeford-based outdoor accessories maker Hyperlite Mountain Gear each received early-stage investments in excess of $1 million in the first quarter.
Ourly received the largest investment of the three – a $3.4 million round from Boston-based investment firm Kodiak Venture Partners, according to the report. Pika received $1.5 million from “undisclosed investors,” and Hyperlite received $1.1 million from the Telluride Venture Fund, based in Telluride, Colorado, the report said.
The total investment among the three companies was just shy of $6 million. It was Maine’s strongest first quarter for venture capital investment since 2015, when three venture capital deals totaling $20.4 million were completed, according to the report.
Maine had two venture capital deals in the first quarter of 2016 totaling $3.7 million, and no deals in the first quarter of 2017, it said.
J. Craig Anderson can be contacted at 791-6390 or at:
Twitter: jcraiganderson
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