CHARLESTON, S.C. – The South Carolina Angel Network (SCAN) is pleased to announce a new investment made by the organization’s statewide groups of angel investors, in Charleston-based medical device company PharmRight Corporation. SCAN, a professionally-managed network of over 200 angel investors, strives to generate attractive investment returns and strengthen the long-term economic health of our state by investing in innovative companies.
PharmRight has developed LiviTM, a cloud-connected, automated medication dispenser for use in homes and institutional care settings, to improve medication adherence and reduce the burden on caregivers. Bill Park, CEO of PharmRight explained: “LiviTM is a product with nationwide scope and interest, but we are excited to have secured more funding from local investors to facilitate our commercial launch. SCAN’s diligence process was rigorous, so we are pleased to have convinced their investors to support our company.”
The investment was led by Lowcountry Angels, the SCAN affiliate based in Charleston, which was formed earlier in 2015. This was the first investment from the group. It was joined by investors from Asheville Angels, Spartanburg Angels, and Capital Angels in Columbia. Their investment was matched by the Palmetto Angel Fund, an investment fund that co-invests alongside SCAN groups.
SCAN groups, led by Greenville’s Upstate Carolina Angel Network, and the Palmetto Angel Fund also recently invested in Greenville-based startup TipHive, a cloud platform for improving knowledge sharing and communication within enterprises, ending a busy summer of investing in some of South Carolina’s most exciting early stage companies.