Follow the Money: Veryable Raises $1.7M, BILT Gets $250K of $1M Offering

From an on-demand labor marketplace to a 3D assembly instruction app, here are some of the latest capital raises, mergers, and acquisitions with DFW ties.

Veryable

VERYABLE COMPLETES $1.7M EQUITY FUNDING ROUND

Dallas-based on-demand labor marketplace Veryable Inc. raised $1.7 million in an equity funding round that opened in May 2017, the company said in a Form D filing with the Securities and Exchange Commission.

Veryable’s labor marketplace is for manufacturing, logistics, and warehousing, and its model provides businesses with labor pools workers with flexible work arrangements. It enables higher productivity and fewer administrative burdens for businesses, according to the company’s website.

Veryable CEO Mike Kinder formerly was a director with PwC’s operations strategy consulting practice. Before PwC, he held various manufacturing management positions at General Electric.

BILT INC. RAISES $250K OF $1 MILLION OFFERING

Keller-based BILT Inc. has raised $250,000 of a $1 million offering, according to a Form D filing.

The BILT app was conceived in 2012 as the first use of SAP’s Visual Enterprise 3D technology and is designed for consumers. The app takes a manufacturer’s CAD data and converts it into interactive, cloud-based, web-accessed, 3D instructions on how to assemble items.

The Form D filing said that BILT has $750,000 remaining to sell in this round.

STONEHENGE GROWTH CAPITAL HELPS LEAD CONVEXITY FUNDING ROUND

Stonehenge Growth Capital, which has an office in Dallas, was one of three investment firms that led an equity funding round that closed this week for Convexity Scientific Inc.

Convexity Scientific has raised $350,000 in two investment rounds, according to Crunchable. Convexity, a Fairfield, Connecticut-based life sciences company, did not disclose the amount of the most recent raise, but said it will use the funding to accelerate its go-to-market activities by significantly expanding sales hires and marketing efforts.

The company’s first medical device, a handheld nebulizer, recently was cleared by the Food and Drug Administration, according to Convexity.

Other investment firms helping to lead the round were Connecticut Innovations and Benslie International Ltd.

MERGERS AND ACQUISITIONS

ONCOR ACQUIRED IN $9.45B DEAL

Dallas-based electric distribution company Oncor has been acquired by San Diego, California-based Sempra Energy in a whopping $9.45 billion deal, the The San Diego-Union Tribune reported. The acquisition already has been approved by the Public Utility Commission of Texas.

FOGO DE CHAO CHAIN ACQUIRED IN ALL-CASH DEAL

Fogo de Chão, the Dallas-based Brazilian-style steakhouse chain, is being acquired by entities affiliated with the New York investment management firm Rhône Capital. The all-cash deal is valued at $560 million, the Dallas Business Journal reported.

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