Last week, InCrowd Capital reported its expansion into Huntsville as accredited angel investing becomes more popular through the South. Angel investing isn't a new concept, but InCrowd Founder and CEO Phil Shmerling took some time to tell Kelley Boothe at Southern/alpha why he thinks this investment style is on the rise.
Shmerling pointed out that it's cheaper than ever to start a business. Access to the internet, access to the marketplace, cheaper storage costs and little overhead are all factors that make it easier for angels to say yes when they know the startup has traction. Additionally, Shmerling's model is built to handle groups of investors so individuals don't have to invest as much per round.
"We make anyone feel comfortable investing in startups," Shmerling said.
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A New York venture capital firm has committed to helping fund the eight startup teams that will next month start developing their plans in the Entrepreneur Center's inaugural Project Music accelerator program. (Applications are due next week.) Digital Entertainment Ventures' involvement will bump to $30,000 the funds each group will receive as part of their 14-week quest. The EC team also has secured a Project Music sponsorship from Google, which will provide "technical, industry and investment expertise." The EC's blog has more info here.
Local health monitoring gadget maker Evermind has raised almost $2.6 million from 20 investors and is looking to top off its Series A round with another $500,000. (See the SEC filing here.) CEO Dave Gilbert tells Med City News that local TNInvestco fund TriStar Technology Ventures led the round, while Solidus and LaunchTN also pitched in. The money will go toward a marketing push while Gilbert and his team look to bridge the gap to a Series B raise next year.
We’d walk over to the entertainment section and see beautifully designed products. Then we’d walk over to the home monitoring devices that relied on the same technology as entertainment products, but existed in the backwater of industrial design. They were designed only for an insurance company to love.”
Among Evermind's directors are Entrepreneur Center CEO Michael Burcham and Dan Hogan, CEO of post-acute data analytics company Medalogix.
POSTDATA: WARRANTY DEEDS