Austin Startups Continue to Raise Money
These raises might not make the news in Silicon Valley but each one is the seed of something bigger brewing in Austin. The ABJ does a good job covering the local business news and startup news:
At least five Austin-area startups received funding during the last week to take their companies to the next level.
Automated coffee maker Briggo Inc. received $3.2 million of a planned $3.8 million financing from 25 investors.
IsoStem Inc. received $500,000 of a planned $1.2 million financing from a lone investor.
Software maker Toopher Inc. received $1.1 million of a planned $2 million Series A round of financing from 11 investors.
Encore Royalty Ventures LLC received a $121,500 financing from three investors.
WC Ohio Storage Portfolio I LP received a $6.9 million financing from three investors.
The only thing in the article that I take issue with is the last paragraph, wherein the author writes: “Monitoring local startups’ funding milestones can be golden business intelligence for professionals on the hunt for new business” – On the contrary. All of these businesses will ignore unsolicited efforts to woo them after an article about raising money. As a business owner- the worst possible companies and people reach out to you when you’re in the news.
However, if you see a company that you have a connection to – a friend who works there, an existing positive business relationship, or a mutual customer – then you have a material beginning to a conversation that you can have with the company about doing more business together. Or you can congratulate them on their success and help celebrate with them. But this is not a time for ambulance chasing.
I say this as someone who reads the ABJ religiously for their coverage of real estate, leases, startups, funding, and other local business news. I want to understand the business climate I’m operating in, and I think the ABJ does the best job delivering that context efficiently.