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.
The backers of Jumpstart Foundry have shuffled the incubator's leadership by bringing in recently named Solidus Principal Chris Poole to be managing director and having COO David Ledgerwood move into an entrepreneur-in-residence role. Poole joined Solidus in 2012 after working at The Work Institute for more than three years.
The moves are intended to sharpen cohort companies' financial focus and get more of them to a revenue-producing stage more quickly. Ben McIntyre at SouthernAlpha writes that Ledgerwood, who joined Jumpstart early last year, also will build a faculty residence team.
Four-year-old business incubator Jumpstar Foundry is leaving the Solidus nest to become an independent entity. The venture has raised an undisclosed amount of money from an investor group led by Clayton Associates that will fund both its start-up program and its Jumpwerx arm that looks to stimulate innovation in established businesses. Twenty-one of the 27 JumpStart graduates are still around and have gone on to raise more than $11 million.
For Clayton, the investment rounds out the firm's lineup of investment vehicles. Chairman Stuart McWhorter says his firm “has always been passionate about seed and very early-stage investing. Our investment in Jumpstart provides our firm the opportunity to strengthen our presence in the seed stage investment cycle. It further enhances the continuum of venture capital investing by complementing our angel fund, Rolling Hills Ventures, and our venture capital fund, FCA Venture Partners.”
Evermind, the year-old local venture that's developing a system to help families stay in touch with seniors living independently, has landed $1.8 million in funding from a trio of area investment funds. Harry Jacobson's TriStar Technology Ventures led the round, while Solidus and the state's LaunchTN program also kicked in.
SEE ALSO: Evermind's Facebook page
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