Raising Funds: BillMyParents, Ortiva Wireless, and Organovo
[Corrected 11/3/11, 1:45 pm. See below.] A couple of tech fundings came through in recent regulatory filings, as well as a deal for Organovo, the San Diego medical device startup. Organovo’s scientific founder, Gabor Forgacs, was among the esteemed speakers at last week’s TedMed conference. Here are the details:
[Corrected to explain filing] Organovo, the San Diego startup developing “bio-printing” technology to grow kidneys and other vital organs, provided investment equity and securities valued at almost $3.5 million in a convertible debt exchange, according to CEO Keith Murphy, who sought to clarify a previous filing. The deal does not represent additional new funding, Murphy says. He told me in July that the company had previously raised just over $2 million from private investors. The company’s technology has been able to grow bio-engineered blood vessels.
After going through a succession of changes, BillMyParents, a San Diego Web-based startup, has raised $2.5 million in a planned $10 million round of equity and rights to acquire other securities, according to a regulatory filing. The company’s website shows that board member Mark Sandson stepped in as interim CEO earlier this year, replacing Jim Collas, the former Gateway computer executive who had founded the company several years ago as Socialwise. In June, the company changed its corporate name to BillMyParents and changed its over-the-counter ticker symbol to BMPI. Michael R. McCoy was named as chairman and CEO earlier this month. As we’ve reported previously, the company’s primary product is a prepaid (and reloadable) MasterCard that includes a range of parental controls.
San Diego’s Ortiva Wireless has raised $2 million in debt, rights, and securities that consist of promissory notes convertible into preferred stock, according to a regulatory filing. The company has not disclosed anything about the financing, and CEO Marc Zionts did not respond to an email query about the offering. Ortiva develops wireless video optimization and streaming hardware and software for wireless operators.