Roundup: Capital Royalty, Buzz Points, Q1 Media, SCIenergy & More
The latest innovation news from around the Lone Star State includes new fundraising, the launch of a cloud software company in Dallas, and a Minneapolis medical device company’s move to Austin to tie up with the city’s growing healthtech community.
Capital Royalty announced Friday a loan agreement with NanoString Technologies, a Seattle-based biotech. The company won FDA clearance last year for its Prosigna test, which provides patients a prognostic score that estimates the chance a woman with breast cancer will have a recurrence in the next decade.
Houston-based Capital Royalty will initially provide $30 million, of which $20 million will be borrowed up front to retire the existing loans with Oxford Finance and Silicon Valley Bank, with $10 million to be accessed within six months. Up to $15 million of additional funding will be available to the company through May 2015, the company said.
Buzz Points, formerly known as Fisoc, has raised $19 million in a Series D funding round. The company reported that DFS Services, which is owned by Discover Financial Services, was one of the investors. Buzz Points, which is based in Austin, TX, has a rewards system that links financial institutions in local communities with that city’s merchants.
Q1 Media has raised $8 million in debt financing from Silicon Valley Bank and Partners for Growth. The online advertising company, which is also based in Austin, works with web publishers on advertising on desktops, mobiles, and tablets.
SClenergy raised $12 million to develop its cloud-based software platform to use analytics to leverage financing for managed service energy agreements. The round was led by Braemar Energy Ventures and includes new investors Edison Energy, a subsidiary of Edison International, and Mitsui USA.
ConnectLoud in Dallas is the latest startup getting into the cloud software business. Zeeshan Naseh, the company’s founder and CEO had been a longtime Cisco executive tasked with designing and deploying that company’s cloud platform for clients such as Verizon and Telecom Malaysia. Naseh says his new company’s software can be installed more efficiently and quickly, and aims to target telecom and financial institutions clusters in North Texas.
Austin’s growing medtech community spurred a Minnesota-based health care company to move its 56-year-old U.S. headquarters to the Texas capital this week. Ottobock Heathcare, a subsidiary of a German company, said it chose Austin in part because of the city’s growing medtech community. Ottobock, which had $220 million in revenue in its North American operations and employs about 650 people, sells prosthetic devices, to customers including the U.S. military. CEO Andreas Schultz says the move will bring the company closer to customers at facilities such as Brooke Army Medical Center in San Antonio.