Tagged: device

Rachio files for first close after selling 74%


rachioA first close of $2.49 million was initiated by Rachio on its $3.38 million equity offering. So far twenty-seven investors committed to the non-brokered placement which started today. Based on the offering’s structure, the company has until October 2015 to raise an extra $895,000. Two previous unregistered financing rounds raised an estimated $1.2 million.

Rachio markets and develops a smart sprinkler controller for yards. The device, once linked to WiFi, will automatically adjust for changes in weather and seasonality, using weather intelligence and analytics. The controller can be manually controlled via smartphones. The application is available for iOS and Android. The device retails for $249. The company is a winner of the Colorado Innovation Challenge and APEX Challenge.

Christopher Klein (President and CEO) leads the Denver CO based company which was registered in 2013. Rachio elected to keep its revenues undisclosed.
The executive team includes Franz Garsombke and Gary Stone.
The board of directors includes Jordan Mendell.

The company has raised an estimated total of $3.69 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Rachio
Industry: Other Technology
Amount offered: $3.38 million
Amount placed: $2.49 million
First sale: 10-31-2014
Data as of: 10-31-2014

For more information visit www.XDATA.co

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Vortex Control Technologies reports successful placement of its mezzanine securities


vortex control technologiesA $500,000 unregistered mezzanine investment round initiated by Vortex Control Technologies was subscribed by seventeen financial backers. According to the information disclosed, the placement started almost two weeks ago and was fully subscribed. One prior placement was closed under regulation D by the company and raised an estimated $2.2 million.

Vortex Control Technologies commercializes a proprietary and patented aerodynamic technology and software that enables the company to model, predict, redirect and control aircraft vortex flow. This reduces aircraft drag and saves fuel, reduces carbon emissions, extends aircraft range and endurance and in many cases increases payload and/or reduces takeoff distances. The company currently markets “finlets” devices that are attached to the aft portion of the aircraft fuselage. Finlets’ kits retail between $400,000 and $2.3 million.

The company, headquartered in New York NY, is led by Brett Smith (Chairman). Vortex Control Technologies kept its revenues undisclosed.
The executive team includes Andrew Morgan, Charles Dixon and Derek Roberts.
The board of directors includes Joseph Kerrey, Pj Mcgoldrick, Peter Smith and Scott Horowitz.

The company has raised an estimated total of $2.7 million via private unregistered security offerings.

Offering recap
Status: Completed
Company: Vortex Control Technologies
Industry: Other Technology
Amount offered: $500,000
Amount placed: $500,000
First sale: 05-20-2014
Data as of: 05-20-2014

$800,000 unregistered debt financing and first close reported by late filer Velo Labs


velo labsLate filer Velo Labs disclosed being in the market to raise $800,000 via debt issuance. Apparently 12% or $95,000 has already been subscribed by three investors. The non-brokered placement started a few months ago. An additional $705,000 in funding is to be raised until the offering draws to a close in February 2015. This is the first debt financing done by the company under a registration exemption.

The company is developing a wireless-enabled and solar-powered bike lock called skylock. The lock paired with a smartphone application (app) offers remote access, monitoring as well as emergency reporting features to increase bikers’ safety and their prized possession’s security. The company is planning on using skylock to develop the next generation bike share platform and enterprise fleet cloud-based solution.

Jack Al-Kahwati (CEO) leads the San Francisco CA based company which was registered in 2013. Velo Labs kept its revenues undisclosed.

The executive team includes Daniel O’connor and Gerardo Barroeta.

Offering recap
Status: First close
Company: Velo Labs
Industry: Other
Amount offered: $800,000
Amount placed: $95,000
First sale: 02-13-2014
Data as of: 05-15-2014

Fanhattan launched a $18 million offering and placed 47%


fanhattanAccording to a document filed by Fanhattan with the SEC, the company launched a $18 million non-brokered equity offering. So far Fanhattan sold 47% or $8.39 million worth of new unregistered securities to nine backers. The subscription started one month ago. The offering will remain open until March 2015 while an additional $9.6 million worth of securities is sold to investors. It appears to be the first time the company is filling a security offering under a registration exemption…and it is hard to believe. So, with some research, one would realize that Fanhattan’s ancestor was a company called Vuze (Formerly Azureus) which raised an estimated $32.8 million since November 2006. The company is backed by NEA, Redpoint Ventures, GreyCroft Partners, and e.ventures (Formerly BV Capital).

The company is the developer of Fan TV, a video aggregation and programming guide application that lets users know what’s available to watch across popular streaming video platforms such as HuluPlus, Amazon, Netflix etc…The app also allows users to watch movie trailers and buy tickets. The app is available for iOS and on the web. However, the financing comes on the heels of a deal made with Time Warner to sell a new set-top box device with a touch remote that will bring the Fan TV service to life on Time Warner subscribers’ screens. It combines live TV, video-on-demand and streaming services in a unified discovery experience. The device will retail for $149 and can be pre-ordered for $99.

The company, headquartered in San Mateo CA, is led by Gilles Bianrosa (CEO). Fanhattan elected to keep its revenues undisclosed.

The executive team includes Laura Tunberg, Milan Parikh and Olivier Chalouhi.
The board of directors includes Christopher Moore, Jarl Mohn, Mathias Schilling and Patrick Chung.

The company raised an estimated $41 million since inception.
Former names include: Azureus, Vuze, TMDB and Fanhattan Holding.

Offering recap
Status: First close
Company: Fanhattan
Industry: Other
Amount offered: $18 million
Amount placed: $8.39 million
First sale: 03-24-2014
Data as of: 05-13-2014

$1.06 million unregistered debt financing and first close reported by ABT Molecular Imaging


ABT Molecular ImagingABT Molecular Imaging disclosed being in the market to raise $1.06 million via debt issuance. Apparently 73% or $775,000 has already been subscribed by three investors. The non-brokered placement started a few days ago. Based on the offering’s structure, the company has until May 2015 to raise an extra $288,000. A total of eight unregistered securities offerings closed by the company raised an estimated $22.05 million.

The company designed a device to manufacture doses of molecular imaging drugs for positron emission tomography (PET scanning) at the point of use. PET scanners map the body by means of injectable radioactive drugs that allow PET machines to highlight areas of abnormal metabolic function indicative of disease (such as cancer, Alzheimer’s disease, cardiac abnormalities, etc.).  ABT’s Biomarker Generator enables rapid, safe and local production of PET imaging agents in a way that is more convenient, versatile and significantly less expensive than current methods available. It is currently deployed to several research and clinical sites with installations in the U.S., Europe and South America.

The company is headquartered in Louisville TN. Abt Molecular Imaging disclosed having revenues on or below $1 million.

The executive team includes Michael Templin and Peter Kingma.
The board of directors includes Dennis Dougherty and Rik Vandevenne.

The company has raised an estimated total of $22.82 million via private unregistered security offerings.

Offering recap
Status: First close
Company: ABT Molecular Imaging
Industry: Biotechnology
Amount offered: $1.06 million
Amount placed: $775,000
First sale: 05-09-2014
Data as of: 05-12-2014

Lumacyte filed a first close at $30,000


lumacyteLumacyte disclosed selling 2% of its $2 million non-brokered financing round to one investor. According to the filing, $30,000 worth of equity was subscribed a little over a week ago. An additional $1.97 million in funding is to be raised until the offering draws to a close in April 2015. The equity offering’s expected net proceeds will amount to $1.9 million which excludes $100,000 to be paid toward officers’ salaries. This is the first time Lumacyte is selling securities under a registration exemption.

The company developed and produces microfluidic and optics based instruments and sub-components that enable cell biologists, biomedical researchers, pharmaceutical and biotechnology companies to characterize, select, and sort mammalian cell samples without the use of antibody labels.

Sean J Hart (CEO) leads the Keswick VA based company which was registered in 2012. Revenues on or below $1 million were reported by Lumacyte.

The executive team includes Sean Jeffrey Hart.
The board of directors includes Renee Adele Hart.

Offering recap
Status: First close
Company: Lumacyte
Industry: Biotechnology
Amount offered: $2 million
Amount placed: $30,000
First sale: 04-30-2014
Data as of: 05-09-2014

VoCare launched $20* million fundraising effort


vocareDespite filing an amendment for its Series A financing round, VoCare confirmed that the company is in the market to raise $20 million via a brokered equity private placement. The company structured the offering to remain open until April 2015 if not fully subscribed. No securities have been subscribed by investors yet. The private placement, excluding $500,000 to be paid toward officers’ salaries and $500,000 to be paid in placement fees, will bring in estimated net proceeds of $19 million. Until this disclosure VoCare had raised an estimated $5 million in unregistered securities via one previous financing round. The company disclosed to Random Research having raised $5 million as part of its Series A financing round despite its previous filing disclosing $3.35 million raised. The company is backed by SAW Capital and Elevate Ventures.

VoCare is a health tech company developing simple to use alert and monitoring products for seniors. Products include MyHealth Tablet which allows physicians and care giver to monitor patients remotely. The tablet has the ability to capture all patient vital signs (such as weight, blood pressure, glucose reading, temperature, oxygen level, and others), as well as conduct a “remote office visit” with a patient. It also offers audio and visual medication reminders, physical therapy alerts, and patient education on relevant topics. The tablet is Health Insurance Portability and Accountability Act (HIPAA) compliant. Other products include a personal emergency response system, a mobile phone solution as well as a call center.

The company, headquartered in Indianapolis IN, is led by Steven R Peabody (President and CEO). VoCare elected to keep its revenues undisclosed.

*The size is well outside our coverage however it shows how analysis and research can turn a questionable filing into news.

Offering recap
Status: Launched
Company: VoCare
Industry: Other Health Care
Amount offered: $20 million
Data as of: 04-25-2014

Exo Labs filed for first close after raising 69% of its financing round


exo labs$343,000 worth of mezzanine securities started to be placed by Exo Labs a little over a week ago. Based on the information disclosed, a total of nine investors bought 69% of the $500,000 security offering. $157,000 in additional funding can be raised before April 2015 based on the placement’s structure. Two previous unregistered financing rounds raised an estimated $2.64 million. The company also raised $36,000 on kickstarter in mid 2013.

The company designed a microscope camera that plugs into virtually any microscope and streams the image to an iPad, where users can then take photos, make annotations, measurements, and more. The camera has been created with students in mind, specifically to engage them and help them interact with what they see using a tool they are familiar with.

The company, headquartered in Seattle WA, is led by Michael Baum (CEO). Exo Labs kept its revenues undisclosed.

The executive team includes Jeffrey Stewart.
The board of directors includes John Harris, Jong Lee and Mark Li.

The company has raised an estimated total of $2.98 million via private unregistered security offerings.

Offering recap
Status: First close
Company: Exo Labs
Industry: Other Technology
Amount offered: $500,000
Amount placed: $343,000
First sale: 04-09-2014
Data as of: 04-17-2014

Wine Doctor’s private placement is now $400,000 not $18,000


Change: offered +2,122% / raised +0% / placed 100%

wine doctorWine Doctor reported that its equity offering raised $400,000 and not $18,000 as previously disclosed in November 2012. It appears all the remaining $382,000 worth of securities were placed among the two investors that were already disclosed in Wine Doctor’s filing in November 2012. At the time they had invested $18,000 in the financing round. It took almost a year and a half for the offering to be fully subscribed and close. The offering structure suggests it should have closed on November 5th 2013. Up to now Wine Doctor had raised an estimated $50,000 in unregistered securities via one financing round.

The company designs and markets oxygen vacuum pumps and stoppers to preserve wine. The stoppers are engineered to hold a seal for over seven days and the pump to be efficient. The company’s “intelli-stopper” features a red indicator that shows if air enters the bottle. Three different pump and stopper kits are sold and retail price ranges from $19.95 to $39.95.

The company, headquartered in Las Vegas NV, is led by Robert Q Hoyt (President). Wine Doctor disclosed having revenues on or below $1 million.

The company has raised an estimated total of $450,000 via private unregistered security offerings.

Offering recap
Status: Completed
Company: Wine Doctor
Industry: Retailing
Amount offered: $400,000
Amount placed: $400,000
First sale: 11-05-2012
Data as of: 04-01-2014

Mind Solutions files details on its 13 million shares financing round


mind solutionsWhile the information disclosed in its filing to the SEC is misleading, Mind Solutions reported placing 12,765,957 Initial Commitment Shares and raising $1 million. The non-brokered financing round was subscribed by one investor on March 11th. No offering was previously initiated by the company under a registration exemption with the SEC. The company trades under ticker “VOIS” on the OTC market.

Mind Solutions is a software company which is developing applications for a wireless headset which reads brainwaves and allows interaction with computers. While the non-invasive electroencephalography (EEG) headset was originally developed for gaming, the company is looking at other uses such as medical applications.

The company, headquartered in San Diego CA, is led by Kerry Driscoll (President). Revenues were not reported.

Offering recap
Status: Completed
Company: Mind Solutions
Industry: Other Technology
Amount offered: $1 million
Amount placed: $1 million
First sale: 03-11-2014
Data as of: 03-26-2014