Cary-based MotorCo Technologies has closed on $9,997 of a $40,000 equity offering, according to a regulatory filing.

The company was one of three North Carolina startups that won initial investments from the 2018 FlyWheel New Ventures competition. MotorCo won a $10,000 investment. This filing probably reflects that.

MotorCo is developing a mobile travel platform augmented by virtual reality. It is intended to improve a traveler’s experience while providing customer information to travel service providers. MotorCo will also go from the Flywheel summer accelerator into Winston Starts.

“The competition has been challenging,” said Neal Simpson, the co-founder of MotorCo Technologies following the competition. The company benefited tremendously through the experience and the interaction with New Ventures and its investors.  Our story, message and value proposition have all improved through the process.”