$5M Infusion to Boost Notre Dame-Connected Tech Company

Posted: Updated:
(photo courtesy University of Notre Dame) Emu Technologies has an office at the IDEA Center at Innovation Park in South Bend. (photo courtesy University of Notre Dame) Emu Technologies has an office at the IDEA Center at Innovation Park in South Bend.
SOUTH BEND and NEW YORK -

A Big Data technology and software company with a presence in South Bend is planning to grow following a $5 million round of funding. Emu Technology, which has offices at the IDEA Center at the University of Notre Dame's Innovation Park and in New York City, says it plans to scale up product development and add six positions. The company focuses on what it describes as data intensive, real-time Big Data analytics and currently has five full-time developers in South Bend, along with two of its founders, Peter Kogge and Jay Brockman.

The team of investors includes IrishAngels Inc., a Chicago-based investment group focused on funding for startups connected to the Notre Dame community, Samsung Ventures Investment Corp. of South Korea and Virginia-based Blu Ventures Inc..

Emu Technology Chief Operating Officer Martin Deneroff says "Emu will use this funding to accelerate availability and tuning of critical software, including Open MP, Python and Caffe, through investment of our own resources and by making Emu systems available to algorithm, middleware and application developers," said Martin Deneroff, Chief Operating Officer Emu Technology. "At the same time, we will fund our next generation hardware development initiative focused on large system scaling coupled with deployable low energy designs. Beginning immediately, we are investing in a significant ramp in software and hardware developer hiring in in New York City, New York and in South Bend, Indiana."

Last year, it received a nearly $3.5 million round of funding led by IrishAngels and Blu Ventures, which helped launch design, manufacturing and marketing of the company's Emu Chick and Emu1 Memory Server products.

  • Perspectives

    • We’re Having the Wrong Conversations About Safety

      Every time there’s a shooting at a school or a workplace, the arguments begin. We need more police officers stationed in the buildings. We need to arm teachers or encourage employees to carry handguns. We should invest in smokescreen systems or bulletproof partitions. Everyone should hide from the shooter. Everyone should run from the shooter. Everyone should confront the shooter. It’s healthy that we’re discussing safety, but unfortunately, we’re talking...

    More

Subscribe

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

Events



  • Most Popular Stories

    • Forbes Ranks Top Colleges; 3 Indiana Schools Make the Cut

      Forbes released its 12th annual ranking of America’s Top Colleges based on direct benefits a university or college provides its students. Several Indiana universities made the list in some “sub-categories”, like Grateful Graduates Index, but the University of Notre Dame was the only school in the state to break the top 20 overall rankings.

    • Butler Unveils New Building for Lacy School

      The president of Butler University says the new building for the Lacy School of Business will create better engagement for students and faculty. The university unveiled the building Wednesday on the Indianapolis campus. James Danko says the new facility adds five times the classroom space and square footage for the school, which previously didn't have enough space for half of its classes. In an interview with Inside INdiana Business Reporter Mary-Rachel Redman, Danko called...

    • West Lafayette Center Breaks Ground

      West Lafayette city officials this week broke ground on the $31.5 million West Lafayette Wellness and Aquatic Center at Cumberland Park. Plans for the 72,000-square-foot project feature a natatorium, three gymnasiums, exercise machines, free weights and community rooms. 

    • Photo courtesy of Portillo's

      Portillo's to Open Fort Wayne Location

      Portillo's Restaurant has announced it will open a new 7,800-square-foot restaurant in Fort Wayne. The location will be near the Glenbrook Square Mall and is slated to open in late 2019. 

    • Opportunity Zones: Changing the Course of Real Estate Investment

      The economic divide in large cities continues to expand. Despite a financial resurgence following the 2007-2009 recession, the system wasn’t fixing itself. Enter Qualified Opportunity Zones (QOZ), a program included in the Tax Cuts and Jobs Act of 2017 designed to boost development in economically distressed communities. In exchange for new investments in these communities, investors receive preferential tax treatment. As traditional as it sounds, the QOZ program is...