Kodiak Cakes Gets Acquired, Lucidpress Spins Out

Recovering from a three day weekend? Read this.

The Weekly Nectar- June 2, 2021

Remember the crazy windstorm last year that destroyed trees in the Salt Lake City Cemetery? 265 of them to be exact. Well it was open this year just in time for Memorial Day. We hope you had a chance to honor and remember loved ones. A three day weekend is such a tease isn’t it? It feels like a small vacation and then whammo- Tuesday morning hits you in the face. Crack open your favorite caffeinated beverage my friends, you’ve only got two more days until the weekend. 

As you know, we’re part of an exciting event coming up later this month- StartFEST, Utah’s original grassroots startup festival. Our lineup is cram-jam-packed with speakers you NEED to hear from- including fireside chats with Kacie Malouf and Jeanette Bennett interviewed by yours truly. If you haven’t already, get your tickets here. Students get discount tickets, so be sure and get on it!

Here’s what’s happening in the hive:

  • Hot off the griddle

    Park City’s pancake peddlers Kodiak Cakes was acquired by private equity firm L Catterton for an undisclosed amount. Kodiak produces the well loved and better-for-you products that we’ve known and loved, including pancake and waffle mixes, oatmeal, baking mixes, and even the good ol’ frozen waffle. Congrats Kodiak!

  • Summer lineup at Lassonde

    Lassonde Entrepreneur Institute at the University of Utah has released their Summer events and program calendar. Get your workshops, idea sessions, and plain ol entrepreneurial fun at Lassonde. 

  • We’re turning into robots in the best way

    Utah-based Blackrock Neurotech, the leader in brain-computer interface (BCI) technology and manufacturing, “has closed a $10 million financing round, led by Christian Angermayer's re.Mind Capital with participation from Peter Thiel, German entrepreneur Tim Sievers, and Sorenson Impact's University Venture Fund II.” BCI tech allows patients who can no longer speak or those who need to use robotic limbs to do so by using in-brain implants. This technology could help the over 5 million people in the US with some form of paralysis. 

  • Underwater inspo

    If you’re neck deep in your business and wondering how you’re going to stay afloat, read this article by Loveland Living Planet Aquarium founder Brent Anderson. Not only did Brent graduate from college at grim odds, he persevered time and time again to open a world class aquarium right in the Beehive State. It’s truly inspiring, a story that will make you feel like you can do it. 

  • Lucidpress branches out

    Although software giant Lucid is far from startup status, Lucidpress, a specific branch of that software, was acquired by Charles Thayne Capital, a growth capital and private equity firm. Lucidpress said “This partnership will allow us to accelerate the execution on our promise to make it quick and easy for anyone to create on brand content.” This is just another way we see a business pivot and adapt to their customer’s needs. Take note young startups!

We’re happier than potato salad that stays cold at a picnic to be reporting on startup news in Utah. Do you have something to share? We want to hear about everything happening in the community! Go ahead and email us at emily@beehivestartups.com or hello@beehivestartups.com.