CHARLOTTE – Top honors at an annual startup showcase headed by the Charlotte-based early-stage venture firm TFX Capital went to a firm based in Washington, D.C.
At the event, the 6th Annual Veteran Startup Showcase, the developer of threat intelligence platform Pyrra took the top spot and $50,000 non-dilutive funding, while a Colorado-based firm Aclymate, landed in second place and received $12,500.
Wilmington-based startup Essential Personnel, the winner of the NC TECH Showcase in May and a recipient of a $50,000 grant from NC IDEA in May, also participated in the veteran startup showcase.
“Each year, TFX welcomes an elite group of founders to participate in this Showcase, and every year we are consistently impressed with the caliber of finalists. The 2022 Showcase certainly was no exception,” said Kevin Eckert, Partner at TFX Capital. “The judges ultimately selected Pyrra due to their unique market opportunity to deploy a solution top of mind for government, media companies and enterprises with an exceptional team positioned to succeed.”
Teams pitched to a panel of judges that included Greg Brown, the administrator of the Charlotte Angel Fund, Karl Hightower, the chief data officer at Novant Health, and Jodi Hubler, a director and advisor at Gratum Ventures.
Venture capitalist: Supporting veteran-led startups is a proven investment strategy
Veteran entrepreneurship
Supporting veteran entrepreneurs is a proven investment strategy, Eckert has previously told WRAL TechWire. That’s because they’re often prime candidates for success, Brandon Shelton, the founder and managing partner at TFX Capital, wrote in a column published by WRAL TechWire in July 2021.
“Having been a direct beneficiary of a rewarding career supported by both veteran mentors and entrepreneurs, paying it forward is just the right thing to do. Investing in a rewarding program with TFX just makes my contributions more valuable, as we are aligned on the mission of creating a force multiplier effect,” said Kevin Hesselbirg, an investor in TFX Capital, in a statement.
Charlotte VC: ‘Veteran entrepreneurs are prime candidates for success’
