Wisconsin Roundup: Wellbe, Kiio, Cellectar, RideScout, & More

6/16/14Follow @XconomyWI

Two Madison startups are raising more capital. Madison-based biotech Cellectar Biosciences intends to trade on the Nasdaq stock exchange. RideScout has entered the Wisconsin market. And Milwaukee-area electric car drivers have new charging stations. Read on for a breakdown of last week’s Wisconsin innovation and tech news.

—Madison-based Wellbe has raised $425,000 in a debt offering that could reach $1.25 million when the funding round closes, according to a new SEC filing. Wellbe has developed cloud-based software that guides patients step-by-step through their doctor’s treatment plan. The company previously raised a $1.4 million Series A round, according to MedCity News.

—In another private placement offering of debt and securities, Madison-based Kiio has raised $679,371 of a possible $1.3 million funding round, according to a new SEC filing. Kiio, formerly called Kayo Technology, has developed hardware and software to aid physical training and rehabilitation. The company’s products include a cloud-enabled, handheld device that physical therapists can use with patient muscle exercises to more accurately track progress. Kiio previously raised $1.7 million from investors, according to an SEC filing.

—Madison-based Cellectar Biosciences announced a 1-for-20 reverse stock split of its common stock on Friday. The move is a precursor to listing Cellectar’s stock (OTCQX: CLRB) on the Nasdaq stock exchange. For more background on the cancer drug company, click here.

—RideScout, the Austin, TX-based startup that describes its app as the “Kayak for ground transportation,” has launched in Milwaukee and Madison as part of a larger rollout to dozens of cities around the country. My Xconomy colleague Angela Shah recently profiled RideScout.

—Two fast-charge stations for electric vehicles have been installed on the University of Wisconsin-Milwaukee campus, marking the first electric vehicle chargers in Milwaukee County, according to a press release. Nissan and ABB provided funding for the projects. Two other charging stations are available in Wisconsin, one at ABB’s New Berlin facility and one in Madison.

The new UW-Milwaukee stations are available to the public and work for the Nissan LEAF and Mitsubishi i-MiEV, charging the vehicles in 30 to 90 minutes, the press release said. They are located on the first levels of the parking structure under the Engineering Math Sciences building and the Klotsche Center & Pavilion parking structure.

Jeff Engel is the editor of Xconomy Wisconsin. Email: jengel@xconomy.com Follow @XconomyWI

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