- Brightfield Transportation: in our first link to Treehugger, here is a nice article on Brightfield. What's even cooler than an electric roadster? A solar-charged electric roadster, that's what.
- Target Pharma: continues to grow its disease communities, now adding pharma giant Novartis to its TARGET-NASH community.'
- KIYATEC: Cancer innovation and hiking the Appalachian Trail have a few things in common. Learn what in the UBJ article.
- Baebies: Enjoy Baebies' newsletter for January here, including links to its knowledge center, latest research study demonstrating the feasibility of using lower sample volumes for testing coagulation markers of enzymatic functional assays on a microfluidic cartridge, and its non-profit support events. The company completed its $13M equity raise, and we were proud to be a part of it.
- Pandoodle: with Sharing Economy International Inc, announced a potential partnership agreement where SEII could acquire 51% of its stock
Investing in early stage companies pays off in many ways. The most tangible is when they are bought by bigger companies. We're delighted to start the year off with "an exit" - with FarmShots acquired by Syngenta.
VentureSouth members invested in FarmShots in September 2016, attracted by Josh's technological skills and persistence, FarmShots' technology and market opportunity, and the cost saving and efficiency improvements for farmers.
Financial terms have not been disclosed, but we are happy to say that the investment definitely hit our return targets! This investment is a case study on how angel investing should, and does, work - so look out for more on our blog to come.
Though our part on the entrepreneurial journey is over, we wish Josh and Syngenta the best of luck in continuing to develop a great business.
Partnerships are crucial to early-stage companies to help them scale more rapidly. April saw the announcement of three example partnerships in our portfolio:
- FarmShots: announced a great partnership with Planet and John Deere
- Target Pharma: no-one does big pharma partnerships better than Target. Here is the latest announcement of Target-NASH in partnership with Allergan
- Avadim: agreed a partnership with HPSI Purchasing Services. (And continues to raise money. Our investments a < 40c / share are starting to look promising...)
Other companies launched new products and hit milestones on their own:
- Atlas Organics: launched its Dirtbags bagged compost to the market over the Easter weekend
- Booster: launched its app in the Apple Store, and started helping e-commerce sellers establish better relationships and sell more products
And Proterra just keeps on rolling: