Follow the Money: Gramercy Raises Nearly $10M; German Pharma Acquires Abexxa Biologics; and Surge Private Equity Invests in Contractor Connect

Plus: Richardson's VOSS Solutions Lands $15M, Acquires Irving's LayerX

What companies are finding funding or having a big exit? From startup investments to grants and acquisitions, Dallas Innovates tracks what’s happening in North Texas money. Sign up for our e-newsletter to stay in the loop.

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[Background: istockphoto; Logo: Gramercy Extremity Orthopedics]

⟫ Richardson-based Gramercy Extremity Orthopedics (GEO) has completed a $9.83 million round of Series A funding to scale its technology and expand its suite of products in the U.S. extremity market. GEO offers an industry-first, cost-effective system that aims to revolutionize the way doctors deliver care in the operating room. The proprietary mobile implant and instrumentation inventory system, which is enabled with RFID technology, can hold more than 1,000 items for any specific facility, helping orthopedists and podiatrists better manage the surgical environment.

[Photo: Abexxa Biologics, Inc.]

⟫ Arlington-based Abexxa Biologics Inc. has been acquired by a German pharmaceutical company. Boehringer Ingelheim plans to use Abexxa’s tech in targeting cancer-specific proteins located inside the cell to boost its tumor-antigen discovery and ways of targeting intracellular antigens. It could lead to new cancer immunotherapies that are effective in a broader range of patients. In 2016, Boehringer’s investment arm awarded Abexxa its initial investment funding. Abexxa then won its Ingelheim’s Innovation Prize later that year.

[Image: LayerX]

⟫ Richardson-based VOSS Solutions, a provider of digital workplace management tech, has acquired Irving’s LayerX Technologies as part of its growth strategy. LayerX offers streaming data analysis and monitoring software across industries. VOSS raised $15 million from existing investors and shareholders for the transaction. LayerX says the deal creates ‘world’s most comprehensive” digital workplace management solutions. A suite of collaboration automation management will prep businesses for “the future of the digital workplace.”

Tom Beauchamp, partner at Surge Private Equity [Photo: Surge Private Equity]

Surge Private Equity has invested in its tenth platform with debt financing provided by Modern Bank and Assurance Mezzanine Fund. The funding went toward Contractor Connect, a B2B networking platform for the home improvement and remodeling space that connects homeowners to local contractors. The middle-market PE firm was founded in 2017 by Plano-based partner Tom Beauchamp (above) and Austin-based partner Lewis Sharp, 

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