The Roman poet Virgil once wrote, “Fortune sides with him who dares.” That spirit applies to startups and investors alike.
Financial backing is critical to both startup companies and established firms. Investors are looking for great places to put their money, and businesses seek investors who believe in their futures. Here are some notable examples of where the current interests of investors and businesses with ties to Dallas-Fort Worth have aligned.
REVTECH LEADS $1M OF SERIES A ROUND FOR BIRDZI
RevTech, the mentor-driven retail accelerator in Dallas, led the first $1 million of a $3 million Series A funding round for Birdzi, a New Jersey-based technology startup.
Birdzi is a mobile engagement platform for small- and mid-size grocery chains, and is used by more than 200 grocery stores, driving millions of relevant digital offers to consumers each month, REVTECH said in a release.
It is one of the companies that took part in REVTECH’s 12-week program to advance the retail and grocery industries during a 2017 cohort.
The company said it will use the funding to expand its sales and product teams, as well as the launch of a new wellness initiative in partnership with ScriptSave, a major provider of prescription savings plans for grocery store pharmacies.
“When we raised the Follow-On Fund last year, the aim was to facilitate larger seed rounds for those alums of our accelerator demonstrating high growth,” RevTech Managing Director David Matthews said. “While we certainly didn’t expect to lead a Series A funding this soon in our experience, it’s not surprising given the entrepreneurial talent RevTech and its mentors are attracting.”
The accelerator was connected with Birdzi through one of RevTech’s mentors, Jeff Ketner, the accelerator said in a release.
MYCROFT COMPLETES $1.75M SEED ROUND
TEXZON ADDS $641,562 IN VENTURE FUNDING
Waxahachie-based Texzon Technologies LLC finished a VC funding round in December, raising $641,562. The company develops wireless power systems for electromagnetic wave propagation, power storage, and electricity distribution.
Texzon has raised more than $26 million in venture funding in four rounds since 2016, including a $12.52 million round in November 2017.
CADDO TECHNOLOGIES LLC RAISES $1M
The Dallas-based biotechnology firm announced in a Form D filing that it had raised $1 million in equity financing, which was 100 percent of the offering. Caddo, which was formed in 2013, did not specify what the funding will be used for, and has not returned a call for more information.
DOUBLE PULL INC. NETS $75K EQUITY RAISE
Irving-based Double Pull Inc., announced a $75,000 equity raise, with proceeds to be used for product development, pilot projects, legal expenses, and marketing and sales, according to a Form D filing with the U.S. government. Double Pull has not responded to a call for more information about the round.
VALIFY INC. GETS $652K FOR R&D
Frisco-based Valify Inc. announced in a Form D amendment that it had raised $652,352 of a $700,000 debt offering. Valify said it is the only 100-percent dedicated web-based solution allowing health-care organizations to quickly identify, benchmark, and track their savings in hospital-purchased services. The company will use the funding for continued research and development, Chief Technology Officer Matt Clark told Dallas Innovates.
TRAXO INC. RAISES $725K IN EQUITY FUNDING
Traxo Inc. has raised $725,510 in new equity funding, the company announced in a Form D filing with the U.S. government. In 2016, the Dallas-based company raised a $5.2 million Series B funding round led by TripAdvisor. Traxo specializes in data aggregation and tracking passenger loyalty and behaviors. It lists German airline Lufthansa and other travel companies as its clients.
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