Asset Tracking Maker, SeeID Wins $200,000 Investment from AngelNV
Announcement of a new $10 million venture capital fund, SeedNV
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 kit furniture company, also received a $70,000 investment as a finalist 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 teaches startup founders how to raise venture capital. Investment funding has been pledged by over 50 new and experienced investors who have participated in the AngelNV investor bootcamp which teaches angel investing strategies and tactics.
AngelNV is a program of StartUpNV, a nonprofit incubator and accelerator for Nevada-based startups. Since StartUpNV began operations in 2017, over $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 investment programs and funds in supporting Nevada startups, a $10 million seed venture capital fund, called SeedNV, was created and announced at the AngelNV event as a new investment option for more mature Nevada-based startups. .
While AngelNV invests $50,000 to $200,000 in companies with annual revenue between $0 and $500,000, SeedNV conducts investment rounds of $500,000 to $2 million in companies with the annual turnover is greater than or equal to 500,000 dollars. SeedNV invests in startups that have already received investment from StartUpNV programs and need additional capital as well as new ventures without a prior relationship with StartUpNV.
“With the formation of SeedNV, StartUpNV can offer a complete ecosystem of support for business education, mentorship and funding, from an entrepreneur’s initial idea to A-Round funding,” said Jeff Saling, Director executive of StartUpNV.
Editor’s Note: Download event photos at https://www.dropbox.com/sh/ltu56fjk23fybqb/AABO9UFJdwJKl4WeyiZGpiura?dl=0
StartUpNV is a statewide nonprofit (501c3) business incubator for scalable Nevada startups, offering expert mentorship and access to a network of financial partners for funding through of vehicles such as FundNV (www.fundnv.com), AngelNV (www.angelnv.com), the new company SeedNV (www.seednv.com). Learn more about StartUpNV at www.startupnv.org.