DC weekly roundup: A startup grows in the DMV (and Philly); Scaling considerations; $100M cyber infusion

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Targeting smart growth with two-city launch

Birdwatch is a tech platform that connects homeowners to maintenance and repair professionals. It aims to be more reliable than review sites like Angie’s List while treating technicians better than home repair marketplaces like Handy. 

The startup quickly launched in both the DC area and Philly, raising a $3 million seed round at the end of 2023 and growing to a nearly 30-person team. 

During the process, cofounders learned that their startup has broad value and would thrive in more than just one region. 

“Yes, we need to show growth and traction today,” cofounder Chris Rosenbaum said, adding that it’s necessary to experiment to find the right path.

“Part of the benefit of being in two different cities,” he told Technical.ly, “is that we can accelerate that learning.” 

➡️ Read more about Birdwatch here

Is DC becoming a top place to scale?

Local founders who attended the Halcyon Innovation Summit told me they’re deciding to grow their startups in the DC area for a couple reasons. One said he wanted to be able to collaborate with fellow problem solvers.

“Being close to policy stakeholders, being close to people in government, doing this work at a very high level is really helpful for us,” said Juan Manuel Contreras, cofounder of generative AI risk assessment startup Aymara. 

But not everyone felt the same. One entrepreneur disagrees with local policy priorities and is looking elsewhere. 

➡️ Learn more about different founders’ perspectives here

The year’s major investing trends

How will investors and venture capital markets react to the presidential election? J.P. Morgan’s midyear outlook has insights on what it will mean for the innovation economy. It’s one factor among several that are interrelated — including interest rates and other economic indicators.

See how they all come together for venture fundraising, investment, valuations and the exit environment in the report by J.P. Morgan’s co-heads of innovation economy, John China and Melissa Smith, who is also head of specialized industries at the global firm’s commercial banking division.

➡️ Read the innovation economy report from startup banking experts

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News Incubator: What else to know

•  Craigslist founder Craig Newmark committed $100 million to our nation’s cybersecurity. But there’s a major vulnerability in DC, Maryland and Virginia’s ability to benefit. [Technical.ly]

•  McLean cybersecurity firm RunSafe Security raised a $12 million Series B to expand its sales and marketing teams, as well as its customer base. [Technical.ly]

•  College Park-based IonQ landed a major contract with the United States Air Force Research Lab valued at $54.5 million. The publicly traded quantum computing firm also recently announced a contract with the Applied Research Laboratory for Intelligence and Security out of the University of Maryland, College Park, focused on national security. [IonQ/Technical.ly]

•  Metro riders may be able to tap their credit card to ride in 2025. [WJLA]

 •  House reps introduced a bill that would implement nationwide public service announcements on how artificial intelligence impacts daily life. [Technical.ly]

• DC’s entrepreneurial landscape is bustling, but signs suggest it’s starting to weaken, according to an annual report by the DC Policy Center. For instance, there have been higher closure rates and slow growth in new business applications. [DC Policy Center]

•  The climate tech company Hydrosat is expanding its Latin American presence to better collect data to improve water use efficiency. Hydrosat recently launched its thermal imaging satellite over the summer. [Hydrosat/Technical.ly]

•  Reston’s Leidos joined a group of companies working to develop new lunar terrain vehicles for use by NASA astronauts. [Washington Business Journal]

🗓️ On the Calendar

• DC Tech Meetup is hosting its monthly event on Oct. 2. It’ll be all about fintech. [Details here]

• The local company Virtru is holding a webinar covering data-centric cybersecurity on Oct. 3. [Details here]

• Network and learn from UX leaders at UX CON’ 24 all day on Oct. 10. [Details here]