Tech Company Secures $2M in Funding

Posted: Updated:
Lumavate provides mobile software solutions for manufacturers. Lumavate provides mobile software solutions for manufacturers.

Carmel-based tech company Lumavate LLC has closed on a $2 million round of seed funding. The company says it will use the funding to boost its sales and marketing and product development efforts in the Internet of Things space.

The funding round was led by Indianapolis-based tech entrepreneur Don Brown with other participants including Elevate Ventures, Allos Ventures and other investors. Lumavate, which provides mobile software solutions for manufacturers, has also named John True to its board of managers.

"We are thrilled to have a tech visionary like Don Brown and new participation from great local venture firms like Elevate Ventures and Allos Ventures as partners in this journey," said Paul McGrath, chief executive officer of Lumavate. "We’re starting to see real momentum in the market, and support like this will take us to the next level. John True joining our Board is a real bonus for us as well. He’s currently a Board member of several other high growth technology companies across the country, so he’ll be invaluable to us as we look to scale Lumavate and make critical decisions along the way."

The funding round comes more than one year after the software developer secured $1.75 million in funding. In May, Lumavate announced plans to invest $450,000 into growing its headquarters and add about 90 jobs by 2020.

  • Perspectives

    • How to Build an Effective Team

      Many leaders who are looking to increase overall productivity at their company are implementing collaborative team environments. This growing trend is backed up by a recent study that states collaborative work environments lead to an increase in overall profitability. However, teams are only effective if built correctly. Don’t expect a group of employees to work well together if you throw them in a room without cultivating any sort of trust or team building.



Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • UPDATE: Nestl√© Details Fort Wayne Layoffs

      Virginia-based Nestlé USA says only 40 employees will be laid off at the company's Fort Wayne distribution center. A spokesperson for Nestlé tells Inside INdiana Business a WARN Notice filed with the state incorrectly stated the facility would close at the end of the year, affecting nearly 70 workers.

    • (photo courtesy The Times of Northwest Indiana)

      Hammond Pulls 135 Jobs from Illinois

      A Hammond factory recently vacated by Michigan-based Lear Corp. didn’t sit empty for very long. Midland Metal Products has taken over the former seat factory, having relocated from Chicago after 95 years. 

    • 'Hottest Real Estate Markets' Include Indiana Locales

      Fort Wayne just opened its brand new riverfront Promenade Park to pomp and pageantry, hoping to make it a draw to Indiana’s second largest city. But now the Allen County community has something else to celebrate. The editors of declared Fort Wayne as the hottest real estate market in July for the entire country. 

    • (Image courtesy of Horseshoe Casino Hammond.)

      Indiana Casinos to Begin Sports Betting

      A pair of northwest Indiana casinos will soon add sports wagering to their offerings. Horseshoe Hammond Casino and Ameristar Casino East Chicago are both set to open sports betting areas at their respective casinos ahead of the kickoff to the 2019 NFL season.

    • Eleven Fifty to Move Headquarters

      Eleven Fifty Academy has announced plans to relocate. The nonprofit coding academy says it will invest $5 million to move its national headquarters to a 25,000-square-foot space in downtown Indianapolis near the Indiana Statehouse. Eleven Fifty says it will maintain its existing space in Fishers and has additional plans to add more locations statewide in the future. The organization says it aims to bring its staff to more than 150 over the next six years. Founder Scott Jones...