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.
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Digital health company Analytics 4 Life raises $25 million
By Taylor Street
A digital health company has raised $25 million in Series B financing, according to its press release.
Analytics 4 Life raised the money by investors, including physicians, health care professionals and medical device experts.
The company, headquartered in the Research Triangle Park, creates technology to assess the presence of coronary artery disease.
The cardiac imaging device is currently under clinical investigation.
Analytics 4 Life uses artificial intelligence to produce novel diagnostic images to scan signals naturally emitted from the body that is radiation-free and exercise-free.
Current CAD methods are both risky and costly for the patient.
By using artificial intelligence, Analytics 4 Life has led the right patients to the right personalized treatments in a faster and safer manner.
The company is led by Chief Executive Officer Don Crawford.
Crawford previously led and founded Sapheon Inc., a cardiovascular-focused medical device company, from inception to its $238 million acquisition.
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.
Medical device company UVision 360 raises $300,000
By Meghan Siegmund
Medical device company UVision 360 has raised $300,000 in a private equity offering, according to a filing with the Securities and Exchange Commission on Thursday.
The company, based in Research Triangle Park, still has $450,000 to raise, to meet its goal of $750,000.
The money was raised by 16 investors, according to the filing.
The filing did not disclose what the money would be used for.
Founded in 2016, UVision 360 develops office-based hysteroscopy systems to support the market shift from hospital to office-based procedures.
Hysteroscopy is used to treat problems in the uterus for women, with current clinical data showing that 80 percent of currently hysteroscopy procedures are performed in a hospital or ambulatory surgical center.
Chief Executive Officer Allison Brown has more than 20 years of medical device, consumer and pharmaceutical experience in the healthcare sector.
Using her background in research and development, sales and product development, she has launched over 90 products and services.
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.
Cary-based plasma tech company raises $125,000 of $3 million offering
By Lindsey Welch
Atmospheric Plasma Solutions Inc. based in the Research Triangle of North Carolina, has raised $125,000 and hopes to raise $3 million in total, according to a filing with the Securities and Exchange Commission.
The company researches and creates tools that utilize plasma technology to treat and remove industrial polymeric coatings from surfaces found in aviation, marine and civil applications.
The proceeds will be used as working capital, which can include compensating executive officers. It still has $2.875 million to be raised.
The minimum investment accepted from an outside investor was $100,000, and the offering is being made in the form of debt. It is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer.
Co-founder and chief technology officer Peter Yancey leads APS where he has focused his efforts on the development of the atmospheric plasma coating removal process.
Prior to running the company, Yancey spent 10 years researching plasma deposition, etching and surface modification of materials at the Center for Advanced Manufacturing Processes and Materials of North Carolina State University.
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.
Winston-Salem biotech company URO-1 raises $1.1 million
By Luke Bollinger
URO-1 Inc., which is developing medical products for urology procedures, has raised $1.1 million in an equity offering, according to a filing Monday with the Securities and Exchange Commission.
The company raised the money from nine investors.
URO-1 has offered $2.9 million and $1.8 million remains to be sold.
Ted Belleza has served as CEO and president since April 2017. The chief technology officer of the company is Jack Snoke.
Snoke has received more than 40 patents for medical devices, which he’s been designing since he graduated from Georgia Institute of Technology in 1978. He built a previous company, Surgical Endoscopy Systems, around new products for obstetrics and gynecology doctors.
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.
Raleigh-based WISER Systems has raised $120,000
By Taylor Street
A provider of tags that track locations of materials and people has raised $120,800, according to a filing Monday with the Securities and Exchange Commission.
WISER Systems Inc. raised the money from four investors, according to the filing.
The Raleigh-based technology company currently has $379,200 remaining of the total $500,000 in fundraising.
The company has raised the money in the form of equity.
WISER Systems is an award-winning startup at North Carolina State University Centennial Campus that commercialized a wireless sensor with real-time localization technology.
The company uses its customized WISER tags to track inventory throughout warehouses and manufacturing facilities.
The technology can also be used to track patients in medical centers and medical devices in hospitals and clinics.
WISER Systems is led by Chief Executive Officer Elaine Rideout. Rideout is also an adjunct professor at NCSU since 2011.
Rideout is a career entrepreneur with more than 25 years in the business. She has raised over $100 million to capitalize her business and nonprofit ventures.
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.
Apex-based ProAxion raises $750,000
By Emily Brice
ProAxion, Inc., a North Carolina-based technology company, sold over $750,000 in a private stock offering, according to a Securities and Exchange Commission filing.
The company filed the Form D on Friday, and it did not disclose what it intended to do with the funds.
ProAxion brings products to market that will benefit machines and operations in the industrial industry through wireless sensors, cloud-based analytics and mobile communication technology.
The company is also helping to define the Industry Internet of Things (IIoT) by building applications and products that companies need to lower cost and improve reliability.
Its latest product, TACTIX, is designed to remotely monitor the health of rotating machines, including motors, gearboxes and pumps.
ProAxion is co-founded by Justin Rothwell and Elliot Poger. Rothwell has 20 years of experience designing, commissioning and servicing industrial machines, while Poger’s experience lies in software engineering.
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.
Black Mountain-based Phytonix raises $1.7 million
By Charlotte Chilton
Phytonix Corp., a solar chemical company based in Black Mountain, has raised $1.7 million in equity and options, according to a filing with the Security and Exchange Commission.
Black Mountain-based Phytonix will use a portion of the proceeds for executive compensation. Of the $3 million total offering amount, $1.2 million is remaining to be sold.
Phytonix, formally known as Planktonix, aims to create a solution to energy dependency and climate change through the production of sustainable chemicals and fuels from carbon dioxide.
The company’s CEO and founder is Bruce Dannenberg. His industrial career has focused on the management of the technology commercialization process and of manufacturing high technology processes and products.
He has been involved in the semiconductor industry, the biotechnology industry, and the capital markets arena.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file what’s known as a Form D electronically with the SEC after they first sell their securities.
Huntersville-based ProctorFree raises nearly $2 million
By Bryce Lapping
A Huntersville-based company has raised nearly $2 million in a private equity offering, according to a Form D filed with the Securities and Exchange Commission on Friday.
ProctorFree Inc. completed its goal of raising just more than $1.98 million. The company did not say how it planned on using the funds.
“ProctorFree is an online, on-demand proctoring service that allows students to take exams from anywhere using the computers webcam and internet connection,” the company states on its website.
Additionally, ProctorFree hopes its platform will be used for verifying student identities and human resources hiring.
CEO Andrew Caldwell signed the form. Caldwell took over executive duties at ProctorFree in April 2017. Previously, he worked as the vice president of business development for the company.
Chief Operating Officer Michael Murphy and directors Mark McDowell, Jonathan Boggiano and Steve McLeod are also listed on the form. More information about the ProctorFree team can be found here.
Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but must file what’s known as a Form D electronically with the SEC after they first sell their securities.
