Austin Startups Continue to Raise Money
- November 27, 2012
- 0 Comments
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.