ZetrOZ
of Trumbull, CT has just completed a
syndicated A-round financing of $4.5M. Funds came from
Connecticut Innovations, Mass Medical Angels, Boston Harbor Angels, Launchpad
Venture Group, and other individual Angels. “Connecticut Innovations is
the lead investor for the entire A Round, although Mass Medical Angels played a
significant role leading the Boston based investors,” according to CEO Bryant
Guffey. As a result of this financing round, ZetrOZ,
Inc relocated to Connecticut from Ithaca, NY. Connecticut Innovations is
the preferred shareholder with a board seat, followed by 2 independent
directors and 2 common shareholder directors. Mass Medical Angels and Launchpad
Venture Group both have observation rights.
“We are very excited and proud to
have gained the support of top Angel and Venture groups in the Northeastern
Region,” says Guffey. “Upon relocating to Connecticut in January 2013 we gained
significant access to both financial and personnel resources in CT, MA, and
NY. Support from our new investors has expanded our ability to scale
quickly in preparation for product launch later this year. Frankly, I’ve
been impressed by the Boston and Connecticut based investment communities in
both their professional process and willingness to move quickly to seize the
opportunity!”
ZetrOZ is an innovative ultrasound technology
company focused on developing a new generation of ultrasound products and applications.
Utilizing its powerful, proprietary “OZ Inside™” miniaturization technology,
ZetrOZ can deliver the spectrum of ultrasound more efficiently, more
economically, and more compactly than ever before. The company spun off of from
Cornell with technology in ultrasound miniaturization that cofounder Dr. George
Lewis invented during his PhD research in biomedical engineering.
Groupize. Launchpad
and Golden Seeds member Sheryl Schultz first spotted the company at a pitch
contest. The fundraising goal of $2M
was quickly oversubscribed. Golden Seeds led the deal, joined by
Launchpad. The Golden Seeds fund also invested.
The company was invited to pitch to the Maine Angels this month, but
closed this round beforehand. “Looks like it generated a lot of interest!” says
Sandra Stone of the Maine Angels. We hear Sidecar Angels was also
interested.
Groupize, of Gloucester, MA, provides a SaaS
platform for allowing Hotel chains and big travel players like Expedia to deal
with the perennial issue of booking small groups. Booking singles is
automated and booking huge groups is manual and cost effective that way.
Booking small groups has been a disaster - too expensive to do manually,
too complex to automate. Groupize has built a platform that allows chains
and big guys to expose inventory, quote small groups, book small groups and
generally solve the pain. They have Wyndam, a couple million in revenue,
and are closing in on one of the major internet travel sites.
We congratulate Launchpad in
particular for playing a role in both of these syndicates. Voices we have heard on high tell us that
Launchpad invested close to $2M in these two companies, most likely moving
Launchpad once again into record setting results in Q2
We appear to be the only publication
covering angel syndicates as such. Syndications we have reported on recently
include:
