Entegra Technologies successfully closed its offering after raising an additional $1.15 million for its non-brokered equity issuance which placement started in October 2013. The company had placed at the time 83% of its expected $900,000 equity financing round with one investor. Two new investors subscribed to the additional funding which capped the offering at $1.9 million. Up to this point Entegra Technologies had raised an estimated $3.26 million, total estimated amount raised now stands at $4.41 million.
The company designs, engineers, and manufactures commercial and military mobile devices, specifically tablets. All tablets share the company’s proprietary “on-demand extreme modularity” hardware platform. This platform allows users to tailor tablets for their current needs while providing great flexibility in adapting them for their future needs. For instance, users can change the central processing unit (CPU) without having to change the tablet or mother board and the tablet’s side panel can be changed to support all output/input (I/O) either standard or custom.
Steve Carpenter (President and CEO) leads the Plano TX based company which was registered in 2012. Entegra has less than 50 employees and revenues were not disclosed. The executive team includes Doug Fowler (SVP Engineering), Bill Biancaniello (COO), and Cindy Brown (CFO).
Company: Entegra Technologies
Industry: Other Technology
Amount offered: $1,900,000
Amount placed: $1,900,000
First Sale: 10/11/2013