Each week, we’ll round up startup news from the UNC journalism students behind North Carolina Business News Wire. To read all of the students’ work covering public and private companies around the state, sign up for the daily newsletter.
High Point heating and cooling company has now raised $525,000
By Bryce Lapping
A High Point-based heating and cooling company has raised an additional $125,000 from the $400,000 it initially raised earlier this year.
Scientific Environmental Design Inc. hopes to bring its present total of $525,000 to $1 million, according to a Form D filed Thursday with the Securities and Exchange Commission.
The listed executives on the filing are Chief Financial Officer Jack Woerner, CEO William Millis, director J. Phillips “Phil” Johnston and founder Harry Boody.
North Carolina Business News Wire has previously reported on the standing of the company’s private equity offering. You can find information about the company’s executives here.
Scientific Environmental Design specializes in creating uniquely fitted heating, ventilation and air conditioning systems for homes, according to its website. The company creates a 3-D model of each home, running “unmatched” software analytics to ultimately determine the most energy efficient HVAC system.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must first file what’s known as a Form D electronically with the SEC after they first sell their securities.
Eco-Site raises $20 million as demand for wireless infrastructure rises
By Charlotte Chilton
Eco-Site, the Durham-based wireless tower company, has raised $20 million in private equity funding from the Atlanta-based private equity investment firm MSouth Equity Partners.
Eco-Site, a privately held company that handles infrastructure solutions for major U.S. telecom carriers, has raised more than $90 million in new capital this year due to an increase in carrier demand for coverage and capacity.
“The wireless infrastructure industry, and especially Eco-Site, is experiencing exceptional growth,” said Dale Carey, chief executive officer of Eco-Site, in a statement.
Prior to founding Eco-Site, Carey was president and COO of Shared Access, a wireless tower operator in the United Kingdom and Ireland.
He also served as president of US Wireless for SpectraSite Communications Inc., where he held full profit and loss responsibility for $365 million in annual revenue and a $225-million EBITDA division, encompassing 8,000 towers and 20,000 rooftops.
Prior to US Wireless, Carey was president of the building division of SpectraSite, where he pioneered the neutral-host distributed antenna system model.
MSouth Equity Partners have been partners with the company since its founding in 2012. MSouth partner Barry Boniface stated, “We knew years ago that Eco-Site was primed to be a key player in the wireless industry.”
The company received an investment of $50 million from Guggenheim Partners in March 2017 in order to support Eco-Site’s continued growth.
Eco-Site won the 2017 WRAL Techwire award for fastest growing startup in April.
Durham-based Falconbridge raises $100,000 in private equity offering
By Meghan Siegmund
Falconbridge Collection, a movie production company based in Durham, has raised $100,000, according to a filing with the Securities and Exchange Commission on Monday.
Falconbridge raised the money from a sole investor, according to the filing.
The production company currently has $700,000 remaining to receive the total $800,000 in funds it is raising.
A portion of the money is being used to pay Chief Executive Officer Elisabeth James and her business partner, Revere La Noue, for their services in relation to a motion picture they are set to produce.
The money was raised in the form of equity.
Elisabeth James is a producer, director and editor based in Durham, where her company Thornapple Films is headquartered.
James is the producer and editor of “The Loving Story,” which was shortlisted for an Academy Award and broadcasted in 2012.
Other works include an adaptation of Pulitzer Prize winner Doug Marlette’s novel Magic Time and production of the narrative feature Oka! Amerikee. James also produced “The Good Fight” and co-produced “The Lord God Bird,” both directed by George Butler.
Falconbridge Collection was formed in 2015 as a limited liability company and is currently focused on Overland, a documentary about a collection of geographically and culturally disparate characters who share a passion for the wild. The film takes place across Mongolia, the United Arab Emirates, Italy, Scotland and the American West.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.
Durham-based CranioVation raises $225,000 for new device to treat brain tumors
By Sissy Rodriguez
CranioVation Inc., a health care company that has developed a device to treat brain tumors using a minimally invasive device, has raised $225,000 from two investors, according to a filing with the Securities and Exchange Commission.
The Durham-based company hopes that its minimally invasive device will become the alternative to the typically long and complex surgery normally called for with malignant brain tumors.
CranioVation’s device will treat patients in a matter of minutes while the patient is awake and comfortable, causing a shift in the way patients with brain tumors are treated.
The company was established in 2017.
Chief Executive Officer Vijay Agarwal, M.D., graduated from neurosurgical residency at Duke University Hospital in 2016 and is currently an assistant professor at the Mayo Clinic in Rochester, Minnesota, and has helped launch multiple medical device companies.
Agarwal has been an integral part of the success of these devices in all stages, from concept and design to testing, U.S. Food and Drug Administration approval, and human trials.
More information about CranioVation can be found here.
Private companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file a Form D electronically with the SEC after they sell their securities.