Legislation proposes tax credits for angel investors
Angel round for health care tech firm
Health care technology firm Care Technology Systems has received its first investment, an angel round from the leader of a Washington, D.C.-based company. Care Technology is developing a software product designed to help seniors age in place — an in-home appliance that is transparent to the senior being monitored but alerts caregivers if attention is needed — and expects to begin deploying beta units in the second quarter of this year. The company's investment comes from Abstraction Ventures, a funding vehicle created by the founder and chairman of association management software company Aptify Corp., Amith Nagarajan, to pursue seed and angel investments.
"Amith has an incredible track record, having grown Aptify from a startup to a successful global organization that leads its category," said Care Technology CEO Jim Anderson. "We are thrilled to have his expertise on our team."
Anderson (above) declined to disclose the amount of the angel round but said the company will seek additional financing as it moves toward commercial release of is product, expected in the second half of 2011. See Also: Our coverage of a company with a similar concept, Scotte Hudsmith's Parental Health.
Music tech venture Bandbox gets seed round
Nashville’s Bandbox has received a round of seed funding from a Franklin-based angel investor to help propel the company’s music marketplace for Facebook. Company co-founder and CEO Brian Peterson told NashvillePost.com the recent round has allowed the company to move out of incubator space at the Nashville Entrepreneur Center into its own office and hire a development team to build and test the first iteration of its new product. He declined to ballpark the investment amount or name the angel investor. Essentially, Bandbox is building a system that “makes the process of buying and selling music social,” Peterson said. It will allow Facebook users to share music from a catalog of 15 million songs — comparable in size to the iTunes catalog — much like they post links or photos. When those songs appear in their friends’ news feeds, those individuals will be able to listen to and purchase the song without having to leave the social networking site. “Last month there were 30 billion pieces of content that were shared on Facebook, and zero of that was music that was playable, searchable, shareable and purchaseable within the news feed,” Peterson explained. This tool is designed to help consumers more easily identify new music — because their friends recommend it — and streamline the process of buying it. Peterson expects the system to launch in early 2011.'Lottery kind of win'
