FokusLabs plans to take its wristband technology designed to help wearers stay on task after raising $300,000 in seed capital from two Triangle investors.
Cofounders Capital, led by serial investor Dave Gardner, and Bootstrap Advisors led the investment.
“Fokus Labs could be a real game-changer empowering parents with a new tool to help them help their children deal with distraction, ” Gardner said. “I believe a lot of parents would want to try something like this before putting their children on medication.”
FokusLabs has developed mobile technology designed to remind wearers to “stay on task” through vibration. Rich Brancaccio, a school psychologist, invented the technology.
The technology is patent pending.
FokusLabs released the wearable known as RE-vibe last year and now plans to ramp up sales and production.
“I’ve seen the struggles these kids endure each day so I decided to tackle this problem head-on”, said Brancaccio. “This investment is going to help us market and improve our product adding key features requested by schools, parents and kids”, he continued.”
He also praised his investors, noting: “This is the local A-team of hands-on-investors that can really help us get this resource to the people who need it most.”
FokusLabs says it has sold some 1,000 wearables which are used in more than 300 schools.
Company Snapshots:
About FokusLabs
Based in Wake Forest, North Carolina, FokusLabs dedicated to helping children and adults overcome obstacles faced in the classroom and workplace by fusing psychology with technology. School psychologist Rich Brancaccio founded FokusLabs in 2013 to create specialized tools to help kids overcome their difficulties by leveling the playing field through technology. He formed FokusLabs with the goal of creating products that increase productivity and learning to better support children and their families at home and in school.
About Cofounder’s Capital
Cofounders Capital is an early stage seed fund focused on software ventures in the Triangle. Cofounders Capital is managed by serially successful entrepreneur, David Gardner with a team of over seventy advisers and volunteer mentors who are all investors in the fund, eager to support entrepreneurship in the Triangle and to help portfolio companies and entrepreneurs succeed. For more information, visit www.cofounderscapital.com
About Bootstrap Advisors
Bootstrap Advisors is a Durham-based hands-on advisory and venture firm focusing on innovative consumer products. The fund is run by a trio of local serial entrepreneurs; Ben Feldman, Chris Ng Cashin, and Jay Mebane, representing three of the original four founders behind Thundershirt. For more information, visit www.bootstrapadvisors.com
