Newsletter January 9th, 2026

Happy Friday. This is Mind Your Business, your read on where capital is moving, which companies are earning conviction, and what signals matter for Tampa Bay in 2026.

After a few weeks off, we’re back with a wider lens. This issue starts with what just moved in the last few weeks. Then we zoom out to what 2025 actually delivered and what it sets up next.

🔔 WHAT JUST MOVED
Recent news from the last 2–3 weeks shaping Tampa Bay right now.

Here’s what’s on the board:

🚀 Space infrastructure attracts fast capital and new leadership
🏥 Health systems double down on medical devices and AI
🧠 A new wave of startups signals where 2026 momentum is forming
💊 A profitable healthtech platform quietly scales nationwide
₿ Crypto finance firms put down roots and prepare to expand

Scroll down for the signal.

🚀 SPACE / INFRASTRUCTURE

Lonestar Data Holdings Closes $6.6M Seed Plus, Names New CEO

St. Petersburg-based Lonestar Data Holdings closed an oversubscribed $6.6M seed-plus round in just 72 hours as it prepares for its first fully commercial space data mission later this year. The round was led by Atypical Ventures and The Veteran Fund, with participation from Tampa’s Stony Lonesome Group. The company also completed a leadership transition, naming Stephen Eisele as CEO, while founder Chris Stott remains executive chairman. Lonestar is building data centers in space, following a successful lunar mission and a $120M multiyear partnership with Sidus Space.

⚡Why It Matters: This is frontier infrastructure moving into revenue mode. Tampa Bay is now home to companies commercializing technologies that were science fiction just a few years ago.

🏥HEALTH / VENTURE

TGH Ventures Expands Focus Into Medical Devices

TGH Ventures is sharpening its investment strategy after expanding its fund to $25M, with increased emphasis on medical devices alongside healthtech software. The fund is actively deploying capital into areas like cardiology, neurology, orthopedics, and radiology, including a recent investment in cardiac MRI startup Vista AI. While biotech remains capital-intensive and slower moving, TGH Ventures signaled openness to evolving its approach as technologies mature.

⚡Why It Matters: Health systems are becoming smarter capital allocators. This reflects a broader shift toward technologies that deliver measurable clinical impact on faster timelines.

🤖 ECOSYSTEM / FORECAST

Startups to Watch List Signals 2026 Breakout Themes

The latest Startups to Watch list highlights companies across defense tech, AI, fintech, climate, and health, including names like Lonestar Data Holdings, SkyTL, Psilera, Grifin, XTEND, and TENEX.AI. The mix shows a clear bias toward infrastructure, enterprise adoption, and regulated markets rather than consumer experimentation.

⚡Why It Matters: These lists shape attention. They influence where talent flows, where investors lean in, and which companies enter serious growth conversations heading into 2026.

🧠TICKLE YOUR BRAIN

I can make a startup worth more without selling a single extra product.
Investors chase me, founders fear me, and CFOs worship me.

What am I?

(Answers at the bottom of the newsletter)

Pause for some deep thinking…

💊 HEALTHTECH / OPERATIONS

BoomRX Scales Pharmacy Infrastructure, Hits Profitability

Tampa-based BoomRX is tackling pharmacy fulfillment bottlenecks for clinics and telehealth providers, signing more than 1,000 customers since launching in June. The vertically integrated platform consolidates sourcing, compounding, logistics, and compliance into a single system shipping to all 50 states. Self-funded and already profitable, BoomRX is onboarding 70–75 new providers each week and is open to a future capital round.

⚡Why It Matters: Not every breakout story starts with venture funding. This is infrastructure quietly scaling in one of healthcare’s most fragmented and expensive workflows.

😂MEME STREET

Here’s a Meme You Can Probably Relate To

₿ FINTECH / EXPANSION

Crypto ETF Firm Cyber Hornet Establishes Downtown St. Pete HQ

Cyber Hornet ETFs signed a lease at downtown St. Pete’s 200 Central tower following a $10M funding round to expand its crypto ETF offerings. The firm blends traditional S&P 500 exposure with bitcoin and digital asset futures, aiming to bridge conventional finance and crypto. With plans to launch additional ETFs in 2026, the company is building a local team to target advisers and family offices.

⚡Why It Matters: This signals growing institutional comfort with crypto-adjacent products and reinforces Tampa Bay’s appeal to financial innovators building regulated investment vehicles.

🔄 ZOOMING OUT

📊2025 IN REVIEW

What the Tampa Bay startup ecosystem delivered.

• $1.8B raised locally, second only to Miami in Florida

• $8.4B raised statewide across 520+ deals

• $500M+ raised by Tampa Bay Wave companies in a single year

• Cybersecurity emerged as the region’s dominant capital magnet

• AI moved from pilots into production across healthcare, security, and infrastructure

🧭 WHAT THIS SETS UP FOR 2026

2025 was the year Tampa Bay stopped proving potential and started proving outcomes. Capital concentrated. Infrastructure matured. Health and security platforms moved closer to the core of the economy.

The recent news shows what’s next: companies moving faster, building deeper, and operating at real scale.

2026 won’t be about hype.

It will be about execution.

WORTHY MENTIONS: UPDATES, EVENTS, RESOURCES, ETC…

• ⚖️ Fear & Greed Index: 51 (NEUTRAL) per CNN

• ₿ Bitcoin Dominance at 58.6% See chart

• 💰 2026 Venture Summit on February 26th at The Motor Enclave.
  Florida Funders is now accepting startup applications. Apply here

• 🤗 Want a front-row seat to our biggest events and a chance to connect with Tampa Bay’s top founders, investors and innovators? Apply to join our team!

• 🚀 Connect with top entrepreneurs, founders, and techies building big things in Tampa Bay and beyond. Join our private Slack now and make some noise!

• 📅 Want to sponsor an upcoming Masterminds event? Apply here!

RIDDLE ANSWER

Answer: A valuation multiple. Your company’s valuation often changes based on what the market is willing to pay per dollar of revenue, not just how much revenue you have.

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