One year after partnering with Innovate Alabama on a $10 million commitment, Jesse Draper’s early-stage venture fund just announced funding for nine women-led or co-led startups.
In this first group, the Halogen targets high-growth sectors such as AI, healthcare, and fintech.
The goal is to expand access to funding and build a stronger, more inclusive pipeline of high-potential companies.
Why the women-founder focus matters for Alabama right now
Alabama currently ranks last nationally for female entrepreneurship, despite rapid growth in its tech economy.
Halogen’s investment thesis is to directly address the gap between male- and female-funded startups.
In emerging ecosystems, this approach can be transformative. Increased capital for women founders often leads to a ripple effect:
- more role models and repeat founders
- stronger mentorship networks
- more diverse talent attraction
- a wider range of problems addressed, especially in care, health, and workforce sectors
A $10 million strategy focused on capital and ecosystem access
Halogen’s Alabama initiative extends beyond funding.
Over the past year, the firm has engaged directly in Birmingham, Huntsville, Mobile, Tuscaloosa, and Montgomery. They met with founders, visited innovation centers, and hosted pitch competitions to connect local entrepreneurs with funding sources.
This ‘show up and invest’ model addresses capital access: who receives introductions, who is noticed, and who secures follow-up meetings.
The first nine investments: women-led startups in AI, care, fintech, robotics, and clean energy
Halogen’s first nine Alabama investments, each aligned with its women-founder mandate, spanning a range of areas.
Nyad for instance is focusing on AI operations intelligence, Croux on AI-powered staffing and flexible work, and Skyfire AI on Enterprise Analytics and decision-making. Others include:
- Moxi: childcare and community support
- Auditocity: AI-driven HR compliance
- Doctours: Healthcare access + transparency via medical tourism
- Yard: Robotic outdoor workforce automation
- KrillPay: Borderless digital wallet + inclusive fintech
- Accelerate Wind: Distributed wind energy for resilient clean power
Broader ecosystem impact: creating momentum for women founders
When Halogen reaches its stated goal—deploying $10 million across 20 Alabama companies over two years—additional outcomes may be achieved in addition to more women founders being funded:
- More local hiring and scaling
- More visible success stories
- More outside investors, and
- Easier follow-on fundraising for the next cohort
These are the key factors that sustain a healthy innovation ecosystem, not just in Alabama.
With Halogen’s commitment to funding startups led by women entrepreneurs, they are having a dual impact that, in the long term, will bring greater success to the State’s ecosytem.
