DC Money Moves: District lands $100 million federal grant to expand internet access

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DC earns federal funds for broadband access 

The National Telecommunications and Information Administration awarded DC $100.6 million to increase internet access and roll out digital literacy training in the city, with a focus on Wards 5, 7 and 8. 

The funds are part of the Broadband Equity, Access, and Deployment (BEAD) Program, which allocated $42.45 billion to boost internet access and infrastructure throughout the US. Mayor Muriel Bowser noted that this funding will help DC “close the digital divide.”

“By ensuring District residents, businesses, and institutions have access to affordable, high-speed internet — and supporting them with trainings on digital literacy and workforce development — we can give more people in the District a fair shot, and remain a leader in tech careers, talent, and innovation,” Mayor Bowser said in a press release. 

Grants for Ward 8 businesses

Applications are now open for the Ward 8 Community Investment Fund. The program offers different tiers of grants and loans specifically for small businesses and entrepreneurs in Ward 8, with a total of $800,000 going into the program.  

The fund is a partnership between the DC Community Development Consortium, the DC Department of Small & Local Business Development, Ward 8 Councilmember Trayon White, Ballard Spahr and others. 

Individual awards go up to $40,000, while a youth entrepreneurship grant for residents aged 14 through 21 is worth up to $2,000. 

Those interested can still attend virtual information sessions before the application window closes on June 30. 

Apply here

Climate tech firm adds new investors in Series A

The DC-based startup Crux recently landed new strategic investors for its Series A round, which is currently at $18.2 million.

The round is led by the prominent Silicon Valley firm Andreessen Horowitz, which the Washington Business Journal (WBJ) reported is currently looking for office space in DC. Strategic investors include clean energy developers Clearway Energy Group, EDF Renewables, Intersect Power and Pattern Energy. 

CEO and cofounder Alfred Johnson told Technical.ly in 2023 that Crux was developed in response to the Inflation Reduction Act. The firm, which launched in January of that year, developed a platform for clean energy developers and manufacturers to sell tax credits to third parties. The startup has raised more than $27 million in total in strategic and venture capital to date — a quality that led it to the top spot on Technical.ly’s 2024 DC RealLIST Startups roster.

“The market for transferable tax credits is fundamental to the energy transition. We are proud to partner with some of the leading companies in the industry to make this market deep, liquid, and efficient,” Johnson said in a statement. “We look forward to their strategic thought partnership as we all continue to drive innovation and growth for clean energy across the United States.”

Other DC-area raises and awards

• The Science Applications International Corporation (SAIC), a Fortune 500 engineering firm and government contractor based in Reston, announced revenues of $1.85 billion in the first quarter of 2024. 
• The global defense company BlueHalo announced its expanding presence in Maryland and plans to add 200 jobs in Montgomery, Anne Arundel and Howard counties. To assist in this endeavor, including a new 57,000-square-foot research and development facility in Germantown, the Maryland Department of Commerce granted $50,000 through its Partnership for Workforce Quality program. The agency is also looking to secure a  $1 million loan through the Advantage Maryland initiative. In addition, Montgomery County aims to subsidize the effort with a $100,000 conditional grant via its own economic development fund. 
• Stacklet, a cloud management startup based in Arlington, announced a $14.5 million Series B to expand its workforce and products, the WBJ reported. 
• The Arlington-based software company Excella announced it received a minority investment of unspecified cost from the firm Attain Capital, which is headquartered in McLean.  
• A University of Maryland, College Park-affiliated research facility that specializes in developing security tech scored a contract worth as much as $500 million from the Department of Defense, WBJ also reported. 

State funding agency investments

• State of Maryland-founded TEDCO announced a $500,000 investment in the Upper Marlboro-based food delivery service company Vegetable + Butcher. 

More moves found in Securities and Exchange Commission filings

• $34.9 million for Rockville’s Kolon TissueGene 
• $3.5 million for McLean’s FairNow, a RealLIST Startups 2024 honorable mention  
• $16 million for Bethesda’s Limber Health 
• $6.1 million for Arlington’s Hungry Marketplace 
• $4.2 million for Reston’s CargoSense
• $9.7 million for McLean’s RunSafe Security 
• $2.6 million for Alexandria’s Prolegis 

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This article references Ballard Spahr and TEDCO, both of whom are Technical.ly clients. That relationship has no impact on this report.