Within the evolving tech landscape of Alabama, some cities are solidifying their identities as burgeoning tech hubs, and amid this dynamic environment, startups with ambitious visions are not only surviving but thriving.
As we navigated through 2023, the startup scene in the state showcased a mixed landscape, with some ventures securing substantial funding rounds and others facing closures.
Against this backdrop, Alabama Inno has curated a list of 17 Startups to Watch. This compilation spotlights the young companies within the state that have secured capital, garnered a customer base, nabbed partnerships or simply exhibited innovative ideas — indicators that they are one to watch.
The future remains uncertain, but the startups featured on this list, have demonstrated a passion and unwavering determination to carve out their paths to success.
Startups to Watch 2024
CModel has been involved with several meaningful collaborations and partnerships in the tech ecosystem. The venture was selected to participate in Build in Tulsa Techstars and the AWS Startups Accelerator.
A pivotal moment for this startup arrived in 2022 with the successful launch of product sales. Subsequently, in 2023, it officially became an incorporated entity. It also recently graduated from the renowned international gener8tor HudsonAlpha AgTech Accelerator and is a beneficiary of a $100,000 pre-seed investment from gener8tor.
SEQUENSE celebrated a landmark achievement in 2023 by securing Alabama Futures Fund as its lead investor thanks to Birmingham Bound's introduction. The development in the startup's pre-seed financing round sets the stage for further growth and innovation as it establishes a headquarters in Birmingham.
The company accomplished 100% retention in the use of its KoiosLT runtime system with its current customer base this year. Having this type of reputation with well-established industrial customers is crucial to the success of the business, according to the founders.
Alveolus Bio was a spin out of Lal’s lab at UAB, and the company’s lead program (AB1000) is focused on COPD GOLD stage 3 and 4 for which the company received one of the first fast track NIH SBIR grants and matching grants from Innovate Alabama.
Over the past year, Reliant has begun the transition from providing its assays as a contract research organization service to customers to developing prototype assay kits that will go into production as its first launched product. These kits will be for research use only but that will only be the beginning.
Birmingham health tech company HealNow completed a $5.5 million seed round this year. HealNow offers technology to provide an online checkout experience for pharmacy patients. Leveraging payments technology, patients can schedule delivery or curbside pickup, purchase over-the-counter items and pay for their prescriptions online.
This year, Analytical AI was awarded its largest contract ever. It competed with the large traditional providers, and there was no small business advantage.
The digital health company, founded in 2020, provides resources and education so people can make informed decisions about participating in clinical trials and genomic research. The business works with pharmaceutical companies and health care organizations to engage communities of color for their research, to make it more inclusive. The venture participated in Johnson & Johnson Innovation’s JLabs incubator in D.C.
The company has raised $1 million from angel investors and institutional venture capital firms, launched new apps and products and nabbed partnerships recently.
Want to see the past couple years of Inno's Startups to Watch? Read about the 2023 selections here and 2022 here.
More interested in the AI scene? These are the 2023 startups to watch with an an AI focus.
Companies that are selected by Alabama Inno often go on to make national lists of startups in the spotlight. One local company was selected in 2022, and in late 2023 a female-run Birmingham startup received a national nod.
