Asset tracking maker, SeeID wins $200,000 investment from AngelNV
New $10 million venture capital fund, SeedNV, announced
LAS VEGAS – At the annual AngelNV Shark Tank-style grand finale, SeeID, a company that created a real-time asset tracking system, won a $200,000 investment. SemiExact, a furniture kit company, also received an investment of $70,000 as a runner up in the program. Michael Brown, executive director of the Nevada Governor’s Office of Economic Development attended the event along with other distinguished guests to congratulate the winning companies.
The two companies were selected from more than 250 participants in AngelNV’s free entrepreneur bootcamp, which educates startup founders how to raise venture capital. The investment funding was pledged by the more than 50 first-time and experienced investors who participated in the AngelNV investor bootcamp that teaches angel investing strategies and tactics.
AngelNV is a program of StartUpNV, a nonprofit incubator and accelerator for Nevada-based startup companies. Since StartUpNV began operation in 2017, more than $75 million has been raised and invested in 32 companies participating in its programs, including its pre-seed (early stage) venture capital funds FundNV and AngelNV.
Given the success of these programs and investment funds in supporting startups in Nevada, a later stage $10 million seed venture capital fund, called SeedNV, has been created and was announced at the AngelNV event as a new investment option for more mature Nevada-based startups.
Whereas AngelNV invests $50,000 to $200,000 in companies with $0 to $500,000 in annual sales, SeedNV leads investment rounds of $500,000 to $2 million in companies with $500,000 or more in annual revenue. SeedNV invests in startups that have previously received investment from StartUpNV programs and need additional capital as well as new companies with no prior relationship to StartUpNV.
“With the formation of SeedNV, StartUpNV can offer a complete ecosystem of support for the education, mentorship, and funding of companies from an entrepreneur’s initial idea to A-Round funding,” said StartUpNV Executive Director Jeff Saling.
Editor’s Note: download photos from the event at https://www.dropbox.com/sh/ltu56fjk23fybqb/AABO9UFJdwJKl4WeyiZGpiura?dl=0
StartUpNV is a non-profit (501c3) statewide business incubator for scalable Nevada startups, providing expert mentorship and access to a network of capital partners for funding through vehicles like FundNV (www.fundnv.com), AngelNV (www.angelnv.com), the newly established SeedNV (www.seednv.com). Learn more about StartUpNV at www.startupnv.org.