Follow the Money: CareView Gets $1M, TheCapitalNet Raises $500K, Milkshake Nets $400K

From Mark Cuban and football star Von Miller to the tech company M-Files, here's a look at recent funding and acquisitions involving companies and investors with North Texas ties.

CareView

CAREVIEW COMMUNICATIONS RAISES $1M IN FUNDING ROUND

Lewisville-based technology company CareView Communications Inc. said in a new filing with the U.S. Securities and Exchange Commission that it raised $1 million in a debt only funding round. It has raised more than $3 million this year.

CareView is an information technology provider to the health-care industry specializing in bedside video monitoring, archiving and patient-care documentation systems, and patient entertainment services.

CareView said that its products and on-demand services increase the access to quality medical care and education for both consumers and healthcare professionals through the use of telecommunications technology and the internet. CareView’s Clinical Safety System is used in roughly 10,000 beds in more than 100 hospitals across the country, according to the company website.

THECAPITALNET RAISES $500K IN SEED ROUND

TheCapitalNet, a software-as-a-service provider with North Texas ties currently operating mostly in stealth mode, has received a $500,000 seed round investment from Dallas-based Lindwall Family Investments LLC.

CEO and co-founder Rakesh Bhatia told VCCircle that the proceeds will help the company expand geographically and strengthen its technology team. The website said that TheCapitalNet has launched its first product, called TheBizPlanner, which helps entrepreneurs create business plans and reach out to the investors.

India-based TheCapitalNet was founded earlier this year by Bhatia, Manish Gupta, Vijaykanth VK and Sandeep Reddy Pallavolu.

On Crunchbase, TheCapitalNet described itself as a “unified global platform with the intent to help create operational efficiencies and enhance networking capabilities of stakeholders in the investments ecosystem hence promoting entrepreneurship, business intelligence and social interaction.”

Lindwall makes investments in real estate, food and beverages, and technology, according to Crunchbase.

MILKSHAKE CONCEPTS RAISING $400K FOR ‘FITNESS VENTURE’

Milkshake Concepts, a Dallas-based restaurant group founded by Imran and Asim Sheikh, is raising $400,000 for a “fitness venture,” the Dallas Business Journal reported, citing a filing with the U.S. Securities and Exchange Commission.

The company is behind the Deep Ellum modern American restaurant and cocktail concept Stirr, and the Dallas Business Journal said the company also is bringing a Mexican restaurant to the area.

SALTSTONE CAPITAL SURPASSES $11.3M UNDER MANAGEMENT

Dallas-based Saltstone Capital Management, the energy-focused investment firm founded by a onetime executive with oil tycoon T. Boone Pickens’ BP Capital, has passed $11.3 million under management, The Dallas Business Journal reported, citing a Form D filing.

Saltstone was founded in 2016 by Billy Bailey after he spent over six years at BP Capital, where he began as an analyst intern, the DBJ reported.

DALLAS REAL ESTATE INVESTMENT FIRM RAISES $2.5M

USREVI Consulting, a Dallas real estate investment company, has raised $2.5 million for a feeder fund, according to a filing with the U.S. Securities and Exchange Commission. 

The Dallas Business Journal reported that USREVI buys and rehabilitates single-family homes to rent out and started offering institutional investors an opportunity to buy into a fund to help capitalize its deals earlier this year. The DBJ said that USREVI has boomed following the foreclosure crisis. In 2017 it spent $165 million acquiring, renovating, and leasing out 1,100 homes, while focusing on housing markets in the Midwest and Southwest, the DBJ said. 

The publication said that USREVI uses a software program that can find properties before they hit the local MLS.

SILVER CREEK VENTURES PART OF $11M IN FUNDING FOR SWIM.AI

Dallas-based venture capital firm Silver Creek Ventures was one of three investors who participated in an $11 million in a Series B funding round by Swim.ai.

The San Jose-California-based company is a provider of edge-based software that executes real-time analytics and machine learning for the Internet of Things, according to Crunchbase. Other investors were Harris Barton and Cambridge Innovation Capital.

CUBAN PART OF $4M SEED ROUND FOR NEX TEAM

Dallas Mavericks owner Mark Cuban was one of seven investors in a $4 million seed round by NEX Team Inc., a mobile artificial intelligence company based in California and Kentucky.

According to Crunchbase, NEX Team was founded by a team of “second-time entrepreneurs and former Apple engineers. 

The company’s HomeCourt technology provides real-time shot tracking and analysis for basketball players and teams to improve their games.

VON MILLER INVESTS IN $8M SERIES A ROUND BY MATCHABAR

Dallas-area native and professional football star Von Miller is one of the investors in an $8 million Series A raise by MatchaBar, a matcha tea company that was found in 2014 in Brooklyn, New York.

The company sells matcha at its own cafes, by the bottle online, and at local markets and groceries. Matcha is powdered green tea leaves that are dissolved in water to make tea or it can be used as a flavoring. The company was founded by brothers Graham and Max Fortgang.

The other celebrity investors include Golden Globe actor nominee Ansel Elgort and music producer DJ Diplo. Miller is an All-Pro linebacker with the Denver Broncos of the National Football League. He played at DeSoto High School and at Texas A&M University.

MERGERS AND ACQUISTIONS

Dallas-based Veritex Holdings Inc., the parent company of Veritex Community Bank, is buying the Houston-based holding company for Green Bank in a deal valued at roughly $1 billion, the banks announced this week.

The banks said the transaction will create a bank with 43 branches acoss the state, making it the 10th largest Texas-based banking company by deposit market share.

“The merger with Green represents a tremendous financial and strategic opportunity for Veritex,” Veritex Chairman and Chief Executive Officer C. Malcolm Holland said in a release. “In addition to producing significant accretion to EPS and improvements to virtually all of our key operating metrics, this merger results in a top 10 Texas-based community bank with virtually all of its franchise in the attractive MSAs of Dallas-Fort Worth and Houston.”

OTHER FUNDING

M-Files, a Finnish technology company with a regional office in Plano, has received a €27 million in financing agreement with the European Investment Bank. Global Banking and Finance Review said the loan—roughly $31.6 million—was made possible by the European Fund for Strategic Investments. The company said it will use the money for international growth, to expand its offices in the United States, the United Kingdom, Germany, France, and Australia, and to increase investment in its intelligent information management platform, 

The Dallas Business Journal reported that Fort Worth-based investment giant TPG has raised $5 million for digital media investments, citing a Form D filing with the federal government.

Dallas-based Oak Bridge Royalties  is opening a new $20 million fund, according to a filing. The oil and gas royalties investor was founded by Chris Miller, who formerly was in the business of building pipelines for compressed natural gas, the Dallas Business Journal said. 

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