StrongArm Technologies, a workplace injury prevention firm started by Under 30 alum Sean Petterson, is being acquired by a private equity firm as the industrial-wearables market shakes out. “We’re going to merge with another company as part of a rollup to make something a little more meaningful in our industry,” Petterson told Forbes. He declined to name the firm making the acquisition or disclose the purchase price. Petterson, 32, was featured on the 2017 Under 30 list in Manufacturing &...

Startups borrowed so they didn’t have to give up equity. After the collapse of market leader SVB, they should expect higher rates and fewer deals in the near future. In 2017, when David Rabie first launched Tovala, which pairs a smart oven with a food-delivery service, the idea seemed a little crazy. Then came the pandemic and the idea took off. He’s raised around $100 million for the Chicago-based business, and also borrowed a few million dollars in venture debt from Silicon Valley Bank as...