Follow the Money: Krew Rideshare Collects $25K, Maxxsure Raises $350K, Consulting Firm Kanarys Gets $115K

From AT&T and Common Desk to Sidekick Tools and Four Corners Brewing, here's a look at recent funding and acquisitions involving companies and firms with North Texas ties.

Krew

KREW RIDESHARE MAY EXPAND TO DALLAS IN NEXT 6 TO 8 MONTHS

Krew Rideshare Inc. — which anticipates expanding to Dallas in the next six to eight months — said in a new filing that is has raised $25,100 of a $200,000 debt and equity offerings.

Austin-based Krew offers rides from Austin to Houston for $35, Founder and CEO Kush Singh told Dallas Innovates he anticipates the expansion by Krew to Dallas in the coming months, and while things could change, he expects those plans to solidify by December.

Singh, a business student at the University of Texas at Austin, is from Plano. Singh founded Krew at the university in March with engineering student Tanuj Girish using a model that offers a long-distance car ride for the same cost as a bus ticket.

Krew Rideshare operates from the Capital Factory in Austin, and Singh said that the Capital Factory’s presence now in Dallas makes operating in North Texas easier.

MAXXSURE RAISES $350K IN EQUITY FUNDING ROUND

Richardson-based Maxxsure LLC, an independent cyber risk management platform, announced in a filing with the U.S. Securities and Exchange Commission that it has raised $350,000 of a $1.35 million equity funding round.

In October, Maxxsure said it raised $750,000 in an equity round. Maxxsure was founded in 2016 and it offers a variety of cybersecurity services.

KANARYS SAYS IT’S RAISED $115K IN DEBT FUNDING

Dallas-based business consulting firm Kanarys Inc. announced in a new filing with the federal government that it has raised $115,000 of a $1.5 million debt funding round.

According to the Kanarys LinkedIn page, the firm was founded this year and is preparing a B2B project, with a commercial launch of the business expected in October. Kanarys was founded by Bennie King, who’s also president and CEO of VenueCenter, and Mandy Price, a former mergers and acquisitions partner at Barnes & Thornburg and an attorney at Weil, Gotshal & Manges.

FORT WORTH’S SIDEKICK TOOLS RAISES $60K

Fort Worth-based Sidekick Tools Inc. said in an amended filing with the SEC that it has raised $60,000 via a SAFE agreement — simple agreement for future equity — an agreement between an investor and a company that provides rights to the investor for future equity in the company.

Founded in 2017, SideKick Tools is a software company that improves people’s relationships to themselves, their passions, and their purpose via a management tool made for the families of team members, according to Crunchbase.

CADDO HOLDINGS RAISE $12.8M TO BUY BUILDING AGAIN

Caddo Holdings, a Dallas-based real estate investor, has raised more than $12.8 million as part of a deal to buy an East Dallas office building for a second time, the Dallas Business Journal reported, citing a SEC filing.

Caddo previously bought the Lakewood Towers in 2010, renovated the building, and the sold it in 2013, according to the DBJ.

FUNKY TOWN FESTIVAL RAISES $25K IN EQUITY OFFERING

Fort Worth-based Funky Town Festival Productions LLC announced in a new Form D filing that it has raised $25,000 of a $1.5 million equity offering.

The Funky Town Music & Film Festival describes itself as a “cultural amplification of all the vibrancy and growth that is happening in Fort Worth.” The destination event is aimed at developing the next generation of filmmakers, musicians, and artists. Its schedule and performers will be announced soon, according to its website.

AT&T PARTNERS WITH, INVESTS IN MAGIC LEAP

Dallas-based telecom giant AT&T Inc. has announced an exclusive, strategic U.S. consumer relationship and investment with Magic Leap, a Plantation, Florida-based developer of proprietary spatial computing and experiential platforms.

AT&T said the deal combines Magic Leap’s focus on transformational technology and products with AT&T’s network and distribution to offer a new type of contextually aware, intelligent, human-computer interactivity. The products will be demonstrated in AT&T stores.

“We’re designing and offering the future of entertainment and connectivity, and this exclusive arrangement — in combination with our 5G leadership position — will open up new opportunities and experiences.”
John Donovan

“We’re designing and offering the future of entertainment and connectivity, and this exclusive arrangement — in combination with our 5G leadership position — will open up new opportunities and experiences,” AT&T Communications CEO John Donovan said in a release.

CNBC reported that the secretive Magic Leap has been raking in more than $2 billion from investors including Google, J.P. Morgan, and the mammoth Chinese e-commerce company Alibaba.

In its release, AT&T cited Magic Leap’s first product, Magic Leap One, Creator Edition, a light-weight, wearable computer that can enrich the real-world experience with digital content. It is scheduled to ship later this year to qualified designers and developers, according to AT&T.

AT&T will be the exclusive wireless distributor of Magic Leap products for U.S. consumers.

Since its acquisition in June of entertainment and programming creator Time Warner, AT&T has been actively investing in and acquiring technology companies. Earlier this week, AT&T announced that it had signed a deal to acquire AlienVault, a San Mateo, California-based software security company.

MERGERS & ACQUISITIONS

FOUR CORNERS BREWING SOLD TO CONGLOMERATE

Beverage giant Constellation Brands has bought Four Corners Brewing Co., one of Dallas’ first breweries to open in the modern craft beer movement, according to a report in GuideLive.

Constellation Brands owns and produces several Mexican beer brands including Corona and Modelo. To terms were released about the deal, which closed on July 10.

TTI ACQUIRES SWISS COMPANY, GERMAN SUBSIDIARY

TTI, a Fort Worth-based electronics distributor that is owned by Berkshire Hathaway, has acquired Switzerland-based Compona AG, as well as that company’s German subsidiary, Cosy Electronics GmbH. No financial details were released. Texas TechPulse reported that both companies are specialty distributors of interconnect products, along with providing services such as in-house assembly of connectors and custom cable harnesses. 

COMMON DESK ACQUIRES THE GYM OF SOCIAL MECHANICS

Dallas-based coworking company Common Desk announced this week that it acquired Dallas fitness provider The Gym of Social Mechanics.

The acquisition expands Common Desk’s portfolio and its branded suite of office amenities. No financial terms of the acquisition were released.

“The Social Mechanics brand aligns well with us on all fronts, so acquiring it was a natural fit,” Common Desk founder and CEO Nick Clark said in a release. 

Social Mechanics, in East Dallas on Lower Greenville, joins Fiction Coffee as a part of Common Desk’s portfolio. Social Mechanics offers a functional strength and conditioning program utilizing foundational lifts, body weight movements, yoga, and cardio to improve its clients’ fitness and health. Common Desk members will get reduced-rate memberships and drop-in rates to Social Mechanics.

To find out more about the deal, go here.

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