One of the most rewarding parts of working with Hillside Ventures was the discovery of many UConn-affiliated startups. As the search continued, it became apparent that UConn’s campus stretched far beyond the quiet of Storrs, Connecticut. I am very fortunate to have been a part of the conversations that revitalized alumni engagement and to share this valuable information with both Hillside and the entire university. The list of UConn-affiliated startups is very extensive and I would love to write a piece about each company. Instead, I will highlight a few that fostered curiosity and great discussions among the team. If you are a founder, no matter what stage, I encourage you to reconnect with UConn because we have seen many alumni in the startup ecosystem who want to give back and help in any way possible.
PngMe
Noah and I had the privilege of speaking with two founders of an interesting Africa-focused fintech startup called PngMe. Many financial institutions have difficulty in understanding their users' data, so by utilizing an API, PngMe can pull their customers’ data to, then, send back data-driven insights. The company, like many, underwent a pivot from its earlier model. The original problem PngMe tried to solve was that entrepreneurs in Africa did not have the necessary capital to support them. By 2019, PngMe realized that they were building two companies and went with a data analytics route. If you have been following TechCrunch, you might have seen that PngMe just announced their seed round at $3 million. Cate Rung, the COO and co-founder, graduated from UConn in 2010 where she received her Bachelor of Science, Business; Marketing. It is great to see UConn alumni doing outstanding things in the valley.
Biorez
Closer to home is biotech company Biorez based in New Haven, Connecticut. It was absolutely fascinating learning about this new technology in a founder’s pitch to the whole class. One of the most common sports injuries is the tearing of the ACL, for which the healing process can be slow and the surgeries often resulting in more injuries later on. As a solution, Biorez offers a new product called the BioBrace. The BioBrace contains a proprietary architecture that acts as scaffolding to speed up recovery time. Currently, Biorez is VC-backed with seed funding of $3.5 million. The Chief Executive Officer, Kevin Rocco, went to UConn and received his Bachelor of Science degree in Biomedical Engineering.
Phood
One of the focuses of Hillside Ventures is sustainability companies. There are many startups that we have researched within this space. One company to highlight is Phood. The founder Luc Dang, a UConn Alumni, has since been recognized by Forbes 30 Under 30 as a leader in sustainability. He has spoken to organizations like The United Nations and Harvard’s Food Law and Political Clinic. Phood is a technology company that uses computer vision and AI to stop food waste before it starts. The platform is easy to use and offers data-driven insights to help food services cut costs to maximize profit. At this point, Phood has raised over $2 million in funding.
As I said earlier, it is great to see UConn alumni developing incredible startups. We encourage all UConn founders to reach out to Hillside Ventures whether or not they are looking for investments. Hillside Ventures is always more than willing to help out a fellow Husky. Feel free to email me at zachary.zambuto@uconn.edu and I will respond in a timely manner to help in any way possible.
By Zach Zambuto, Analyst at Hillside
Podcast Host at Series A
Backend Developer at Stable Insurance
Other UConn-Affiliated Startups to Note:
Startup Leaders
Madison Reed
Earlens
Emerging Giants
Tiege Hanley
Upside Business Travel
Startups to Pay Attention to
Jupiter
Pawlicy Advisor
ElectroNeek