Money Moves is a column where we chart the funding raises of tech companies across the region. Have a tip? Email us at email@example.com.
SeeTrue raised $100,000 from TEDCO
Maryland state-connected funding agency TEDCO just invested $100,000 in biomedical company SeeTrue Technology through its Builder Fund, the entity reported.
The startup designed a microneedle that can reduce needle clogging, with the hope of increasing efficiency and productivity. According to SeeTrue, its technology helps researchers work more seamlessly in areas like stem-cell gene manipulation and in vitro fertilization cycle therapy.
“Currently, the industry standard microneedles have deficits that compromise experimental design, execution, repeatability and overall precision and efficacy,” said Kinneret Rand-Yadin, founder and CEO of SeeTrue Technology, in a statement. “Our SeeTrue needles resolve these user pain points and are enabling advances in this rapidly growing area of biomedical research to continue.”
Vint closes $5 million
Richmond, Virginia-based Vint, a wine and spirits trading platform, closed a $5 million oversubscribed seed round led by Montage Ventures.
MS and AD Ventures, Goat Rodeo Capital, Fintech Ventures, Great Oaks Venture Capital, Plug and Play Ventures, irrvntVC, Fiat Ventures and WTI also participated in the round. Vint said that the investors are ample partners that will help the company in its pursuit of a new financial asset class.
“We will be using this seed capital to develop new products for our investors. More collections, broader ranges of assets and new offering themes are coming in this next exciting phase of growth for Vint,” wrote cofounder and CEO Nick King in a blog post announcing the news.
According to the post, Vint last raised in October 2021 when it was a four-person company. The company now hosts 12 employees.
RxAnte received $25 million in growth financing
DC-based pharmacy care management company RxAnte reported that it nabbed $25 million in growth financing in late December.
The funds were provided by Trinity Capital Inc, which offered $15 million. RxAnte can draw an additional $10 million, subject to terms and conditions, if necessary. With the capital, the company plans to expand its business reach and continue its work to reduce prescription drug access issues.
“We are delighted to have Trinity as a financial partner,” said Josh Benner, CEO of RxAnte, in a statement. “This capital enables us to continue our pioneering work with health plans to bring down the $528 billion annual cost of under-use, over-use and misuse of prescription drugs.”
Here’s who else made late-2022 money moves:
- Flavors, a culinary incubator based in Prince George’s County, Maryland, receive a $497,000 grant from the Department of Agriculture’s Local Food Promotion program. The funds will be used to expand programming to BIPOC agricultural workers and enterprises, as well as create a virtual education app and web platform.
- Herndon, Virginia enterprise video tech company Vbrick has acquired New York’s Ramp Holdings for an undisclosed amount.
- McLean, Virginia cyber firm IronNet received a notice of non-compliance after not filing its quarterly notice with the New York Stock Exchange on time. Over the last six months, the company’s stock has lost 90%, but IronNet said the delay was caused by an audit committee investigation that did not affect financial statements.
- TEDCO also invested $200,000 in Bethesda, Maryland startup VirgilHR. The company built a SaaS solution and app to help HR professionals with employment decisions.
- DC-based Wellthi, a fintech company, raised $2.1 million in an oversubscribed round led by Northwestern Mutual and Zeal Capital Partners, the latter of which is also rooted in DC.
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