Welcome back! In case you missed some of last week’s funding news, tech startups in the Southeast continue to raise capital. This week, it’s North Carolina that’s proving to be the hot spot for investment, as four companies from the Tar Heel State account for almost $40 million in funds raised.
Missed last week’s funding news? Catch up here. And remember to check in at Hypepotamus every Monday to stay updated on tech companies raising capital in the South!
Plant Health Care
Agtech is still growing strong, as proven by a March 23 equity raise for Raleigh-based startup Plant Health Care, which creates patent-protected products intended to help crops overcome stress and diseases so that they yield higher quality fruits and vegetables. According to sources, the self-described “leading provider of proprietary biological products to global agriculture markets” pulled in $2.3 million, right on the heels of raising just over $3 million in November.
Earth Renewable Technology
Another indication that the soil is indeed fertile in North Carolina is Earth Renewable Technology. The biotech company, based in the western N.C. town of Brevard, turns plant-based resins into microfiber concentrates, which are then used as additives that create alternatives to plastic product packaging, helping consumer goods companies lower their carbon footprints. It filed an SEC notice on March 25, with $900,000 in new capital coming from five investors in the form of debt and options, according to WRAL Tech Wire.
Wednesday also brought news of another NC company we’ve written about before, although under a different name. Formerly operating as FilterEasy, an air filter subscription service that delivers filters to clients’ homes every three months, the company is now called Second Nature, and plans to expand beyond A/C units and into other products homeowners should replace regularly. And you know what helps companies with new names offer more products and services to a growing list of D2C and industry clients? Well, among other things, $16.4 million in a Series C certainly doesn’t hurt.
A $20 million Series A means CData Software in Chapel Hill is likely to scale in the coming months. A maker of data connectivity solutions, drivers and adapters that integrate with web applications and APIs, CData is used by an impressive list of Fortune 500 companies and brands, including FedEx, Sony, Philips, IBM and Cisco. The eight-figure raise, also announced last Wednesday, came from Updata Partners, a growth equity firm based in Washington, D.C. that focuses on software-driven companies.
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