Fresh off raising an unsolicited $15.5 million funding round, D.C. real estate investment startup Mogul Technologies Inc. is on the hunt for new office space.
The startup eyes reaching 21 employees by the end of the year and onboarding of up to 15 additional workers within the next 12 months. And while the largest chunk of its workforce is in New York, the duo intends to start boosting the startup’s D.C. presence with new hires, who are to occupy roles like engineering and data science.
The cash-flow positive startup is targeting $60 million in annual revenue by 2027, up from the $9 million it intends to have earned by the end of 2026.
Companies in the DC region raised $1.4 billion across 88 deals in the previous three months. Investment numbers can fluctuate, but that’s more than double the cash reported in the previous quarter across a similar number of deals, according to the latest Venture Monitor report from PitchBook and the National Venture Capital Association.
The region’s top two raises went to energy startups, driven by the massive power demands of data centers — the world’s deepest concentration of which is in Northern Virginia. Nuclear startup Blue Energy led with a $380 million round…
“That means the pipeline’s working,” [Tommy] White, [director of American University’s entrepreneurial program,] told Technical.ly. “You’re starting small, medium, big — and then eventually you’re going to have some big exits.”
Now, [Chef Mashama] Bailey and [restaurateur Johno] Morisano are bringing two Southern restaurants to DC’s JW Marriott near the White House, in partnership with Danny Meyer’s Union Square Events. They’ll open all-day Diner Bar by The Grey in December, followed by The Grey on Penn, a more upscale restaurant, next spring. The dining refresh is part of a multi-million dollar property investment by the hotel’s owner.
“It’s a great city, aka Chocolate City back in the day. Really multicultural. Just like a good fit, I think, for us,” Bailey says about what attracted her to DC.
The DC Office of Planning (OP) has finalized its plan to revive the H Street Corridor.
Allow buildings of up to eight stories along the entire corridor where lower limits apply today.
Designate the stretch between 12th and 15th Streets as an arts and culture district, with fast-tracked liquor licenses and event permits, preference points on city grant applications, gateway features and creative lighting.
Georgetown is already D.C.’s hottest dining neighborhood du jour — but it’s about to get a lot spicier.
Driving the news: Spicewalla, a technicolor spice bazaar, opens its first brick-and-mortar shop outside of Asheville on Friday.
It’s the latest local venture from James Beard Award-winning chefs Meherwan and Molly Irani, behind Union Market’s Chai Pani and just-opened Botiwalla in Tenleytown.
State of play: 4EYE Film Center launched last month in the new Revada Arts Center, which also houses theater and opera groups.
The nonprofit screens its films in the space’s 58-seat cinema, but there’s also a 140-seat black box theater and a cafe in the Revada building.
The bottom line: [4Eye founder Emily] Lenzner says several Southwest residents have already told her how excited they are to have a movie theater in their neighborhood: “We’re a city of people who are interested in ideas and storytelling.”