HEARD AROUND VIRGINIA: June 2026

Massachusetts-based Agero, a provider of digital driver assistance services and software for major

automotive and auto insurance brands, announced April 28 that it had completed its acquisition of

Vienna-based roadside assistance tech company Urgent.ly. The acquisition ends a less-than-three-year run as a public company for Urgent.ly. Agero announced in March that it would acquire Urgent.ly for $5.50 per share. Based on the 2,196,934 shares outstanding as of March 12, according to a Securities and Exchange Commission filing, the deal was valued at roughly $12 million. (News release)

On May 1, Gov. Abigail Spanberger announced $2.48 million in strategic investments through the Commonwealth's Capital for Communities Fund (CCCF), supporting six projects that will expand access to financing for Virginia small businesses and entrepreneurs. CCCF provides grants to community development financial institutions and similar organizations. These grants help offset the risks associated with small loans and microlending while fostering innovative financing solutions for entrepreneurs and community developers. The six awarded projects are expected to deliver more than $3.8 million in capital to more than 120 borrowers, support 562 businesses with loans or technical assistance, create or retain more than 200 jobs and accelerate the development of up to 250 new housing units. (News release)

Angel Hobbs, co-founder of Krave canned cocktail seltzers, won the BizWorks Power Pitch: Rise to the Top business competition April 30, according to a news release. Three finalists pitched business ideas to judges and attendees at the event, which was held at SpringHill Suites in Chester. Hobbs, a resident of Petersburg, was both the Crowd Choice Winner ($2,500) and the Judges Winner ($5,000). She will also be the subject of a "Showcase Richmond" segment on WRIC-TV 8 and will receive 12 months of BizWorks mentoring. Hobbs said the funding will support production and in-store marketing. The nonprofit BizWorks is a Richmond-based business support organization. (News release)

MOVA Technologies, a Pulaski-based agtech company developing solutions to improve poultry production, announced in April the closing of an oversubscribed $2.5 million seed extension round, surpassing its initial $2 million target. In total, MOVA has raised $3.6 million in seed capital and secured nearly $1 million in nondilutive grants to support development of its Feather poultry productivity platform. The platform combines advanced ammonia filtration with real-time monitoring and analytics. Proceeds from the round will support expanded field trials, continued research and development and operational readiness for early commercial deployment. (News release)

McLean cybersecurity startup Rilian has raised $17.5 million in seed funding to expand its artificial intelligence-powered security tools for the defense sector, according to an April 23 announcement. The funding round was led by 8VC, the venture capital firm launched by Palantir Technologies co-founder Joe Lonsdale, along with First In and Tamarack Global. The company plans to use the money to further build out cybersecurity tools for the U.S. military and allies, hire engineers and boost marketing efforts. Rilian employs about two dozen workers, according to LinkedIn. (Washington Business Journal)

Scout Space, a Reston-based provider of space domain awareness sensors and software, has raised up to $18 million in Series A funding, led by Washington Harbour Partners, according to a May 6 announcement. The new capital will support upcoming mission execution and the expansion of Scout's manufacturing capabilities, including the build-out of a new 2,600-square-foot facility in Northern Virginia. Scout Space is working with Blue Origin, the private aerospace company founded by Jeff Bezos, to integrate its Owl sensor, which can detect and track satellites, debris and other space objects at long distance, on the Blue Ring, a multi-mission spacecraft. (News release)

The post HEARD AROUND VIRGINIA: June 2026 appeared first on Virginia Business.