REAL ESTATE

Weller Development released detailed plans for Chapter 1 of Kevin Plank’s Sagamore Development Company and Goldman Sachs Urban Investment Group’s 235-acre redevelopment of Port Covington. This is the first major phase of development that will feature 3.025 million square feet of new office, retail, residential and hospitality construction. Read more at SouthBMore.

 

TECHNOLOGY

Arlington-based Scythe closed its seed round of funding with $3 million in investments, led by Gula Tech Adventures. The cybersecurity startup will use the funds to advance new product development and accelerate its attack simulation platform. Read more at the Baltimore Business Journal.

 

STARTUPS

Sisu Global Health closed its latest round of funding with $1.2 million in investments, bringing its capital raised to date to $3.1 million. The Remington-based medical device startup is about to launch sales of its Hemafuse blood pump device in Africa. Read more at Technical.ly Baltimore.

 

DEVELOPMENT

EYA and Bernstein Management Corp. filed an application with the Town of Chevy Chase to bring a mixed-use development on the site of a surface parking lot. Plans call for a 325-unit apartment tower, 18 townhomes, 30,000 square feet of retail space and 4 acres of parkland, including 2.6 acres of new green space. Read more at BisNow.

 

INNOVATION

The World Economic Forum released The Future of Jobs 2018 report this week and found that while developments in automation technology and artificial intelligence could potentially displace 75 million workers in the next five years, 133 million new roles will be created, meaning the changes could create 58 million new jobs in total by 2022. Read more at CNBC.

 

SMALL BUSINESS

Amazon launched a new portal for small business owners, Storefronts, which will highlight merchants with video profiles, their Amazon selections and feature them in a small business marketing campaign. The initiative will begin in the U.S. with 20,000 merchants from across the country. Read more at TechCrunch.

 

RETAIL

As it continues to diversify its product offerings, Coca-Cola Co. is in talks with Canadian marijuana producer Aurora Cannabis Inc. to develop drinks infused with CBD, the non-psychoactive ingredient in marijuana that is used as a pain treatment. Corona beer brewer Constellation Brands Inc., Molson Coors Brewing Co. and Heineken have all recently made moves into the market. Read more at Bloomberg.com.