Contrary to popular belief, capital is still flowing into the coffers of startups around the South. Not only did an Atlanta company score a $6.6M win (hopefully helping it deliver more Ls to counterfeiters), but there was activity in North Carolina and even Arkansas last week.
Got news about a successful recent funding round? Be sure to let us know and we’ll pass it along. We’re all too happy to raise a glass these days to Southern startups’ success!
LocatorX
Tracking isn’t just a bigger deal because of viruses. Everybody’s looking to keep clearer eyes on what’s happening along their supply chains, and Atlanta’s LocatorX, whose technology “enables brands and consumers to access an item’s current location and audit trail from its origin,” is in position to advance, thanks to a $6.6 million investment announced last Tuesday.
“Tracking and anti-counterfeiting technology have never been more important than in our current global environment,” said Scott Fletcher, president and CEO of LocatorX. “The pandemic has created additional demand for location capabilities due to disruptions in the supply chain and a greater need for product authentication and tracking for healthcare equipment.”
With so much already going on, it’d be nice if we didn’t have to have extra protection against counterfeiters, thievery, diversionary tactics and general jankiness.
Teamworks
President Obama’s former personal aide Reggie Love and Bain Capital co-chair Steve Pagliuca are among the returning investors contributing to the $25 million Series C raised by Durham-based Teamworks. Billing itself as “the leading athlete engagement platform for collegiate and professional organizations,” the round was announced April 8 and included participation from Delta-v Capital, as well as new investment groups Stadia Ventures (a “global sports innovation hub”) and Afia Capital, a private investment platform with professional athletes as backers.
A platform that enables sports organizations to increase logistical efficiency, Teamworks is used by “nearly half of teams in the NFL, MLB, NHL and NBA; collegiate and professional conferences; and national governing bodies,” according to the company’s funding announcement. It streamlines communication, scheduling, travel and file sharing between athletes, coaches, and team staff so that your favorite teams can spend time on what we really need them to do. Win.
AcreTrader
This platform for online farmland investment, based in Fayetteville, Arkansas, brought in more than $5 million in an oversubscribed seed funding round, per an announcement on April 10. Investors leading the way included RZC Investments, Revel Partners, and unnamed “technology, finance, and agricultural leaders,” aside from one person who didn’t mind being identified: AcreTrader founder and CEO Carter Malloy.
“Large funds and private equity groups have been rapidly moving into farmland in recent years, but it hasn’t been easily accessible to most investors,” Malloy said in a statement. “With this round of funding, we anticipate allowing even more people to invest through AcreTrader.com.”
The capital will help AcreTrader scale in ways that expand its investment offerings, and improve education among investors curious about farmland. And according to Malloy’s statement, demand is “surging.”
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