Without a Product For Sale, Nuclein Raises $14M
Austin startup Nuclein might become known as the company that made an at-home Covid-19 test that’s so easy you just spit in a can, press a button and wait about an hour for results.
But this isn’t the story of a startup built out of the current pandemic. Nuclein was founded back in 2017, when the big threat on our disease radar was the Zika virus carried by some mosquitos.
The idea for building an at-home diagnostic device came to co-founder and CEO Alan Blake when he and his wife were thinking about having a baby. At the time, mosquitoes were abundant in their backyard, and each bite had the potential to become a long-term health problem.
TECH IN THE SOUTH
NASHVILLE – New avenues. Even for founders building life-saving consumer goods, COVID took its toll. Felicia Jackson, the founder of Tennessee-based CPR Wrap, had to make the difficult decision to downsize her already small team during the pandemic. But now she has created a way to increase her profits despite the economy. Tech it out.
HOLLY SPRINGS – Zoom matchup. Triangle entrepreneur Brian Hamilton is backing a new Triangle-based company called LiveSwitch, and it has a major goal after raising $15.9 million to expand operations of Frozen Mountain, which Hamilton acquired in January: Build a product that will compete with Zoom in providing videoconferencing services. Learn more.
RALEIGH – Impactful efforts. JouleBug has been acquired by Carimus, an organization with dual headquarters locations in Raleigh and Boulder, Colorado. JouleBug is a mobile app that employs gamification techniques to boost the health and wellness of its more than 100,000 individual users and the employees of its enterprise clients and to drive societal change. Tech it out.
ATLANTA – Higher stakes. Atlanta-based Stord is wrapping up Q1 2021 with a Series C funding round sure to turn heads across the supply chain field. The $65 million Series C round, led by new investors BOND, Salesforce Ventures, and Lineage Ventures, brings the startup’s total capital raised over the last 6 months to $100 million. Read more.
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