FOR IMMEDIATE RELEASE
August 22, 2018
SIERRA INNOVATIONS CLOSES PRE-SEED INVESTMENT TRANCHE IN SIMPLESENSE
Reno, Nevada -- Sierra Innovations (SI) today announced the close of SimpleSense’s tranche of pre-seed funding. Sierra Innovations Entrepreneur Fund (SIEF) along with individual members invested $135,000 to close the $210,000 tranche of pre-seed funding.
“Northern Nevada's innovative and entrepreneurial ecosystem is rapidly expanding,” commented Bob Goff, founder and CEO of Sierra Angels and co-founder of SI. “We created Sierra Innovations two years ago to combine experiential mentoring and pre-seed funding to enable conceptual to early formation startups to become successful, high growth companies.”
Leonard Lafrance, an early investor in SimpleSense, co-founded SI in 2016. “Raising funds is the hardest when companies are at a very early stage. We created SI to support them at this risky stage and to create a strong entrepreneurial ecosystem in northern Nevada.”
SimpleSense is currently testing their technology with first responders in communities across the U.S. to measure operational improvements in response times for facility evacuation in the case of a fire or active shooter incident.
Mark Lorkowski, co-founded SimpleSense and heads partnerships. “Raising money outside either coast is difficult, but not impossible. We’ve been lucky to find communities, like Reno, Nevada, that support early-stage entrepreneurs.”
SimpleSense was founded at the InNEVator IoT accelerator in Reno, Nevada, in 2017. Their sensor-software solution detects human presence. Data collected is anonymous and complies with all privacy standards.
Investors in this tranche included Sierra Innovations (SIEF), the Secure Erie Accelerator, a security-focused program run by Singularity University out of Erie, Penn., and other angel investors.
About Sierra Innovations
Sierra Innovations (www.sierrainnovations.net), and its fund (SIEF) formed by 33 members of the Sierra Angels in 2016, offers diverse, highly experienced talent from successful entrepreneurs and corporate executives with a focus on funding early stage companies. Sierra Innovation’s mission is to facilitate and assist the transformation of innovative and scalable startups into successful growth companies in Northern Nevada. We collaborate with Northern Nevada’s leading programs that include a close partnership with University of Nevada, Reno, other Angel Groups and colleagues and many private sector entities.
SimpleSense (www.simplesense.io) founded at the InNEVator IoT accelerator in Reno, Nevada, in 2017. Their sensor technology provides smart routing to spots of interest for security, first responders, and military operations, using sensor fusion and intelligent algorithms to reduce response time and to provide actionable situational awareness. Decentralized, consensus-based configuration and communication enable off-grid capabilities when wide area networks are not available.
SimpleSense founders Eric Kanagy, Mark Lorkowski, and Alex Brickner present their alpha sensors at the 2018 Startup Grind Global Conference in Redwood City, Calif.
Kathie Priebe / Leonard Lafrance
Eric Kanagy, CEO
Do you know a talented, early-stage company working in the IoT field?
Please help spread the word.
The InNEVator, Reno's fully-funded eight-week pre-accelerator program is accepting applications from early-stage founders in the Internet of Things (IoT) space. The program begins September 24, 2018, and takes place at the University of Nevada, Reno Innevation Center-Powered By Switch, in the heart of Reno's emerging high-energy, entrepreneurial scene. The deadline to apply is August 8, 2018. Finalists will be announced August 31, 2018.
For more information visit www.renoinnevator.com or contact Rosanne Catron at 775-682-8612 or firstname.lastname@example.org.
SIERRA ANGELS/MW TECH ACCELERATOR JT. PRESS RELEASE
APRIL 23rd, 2018
Sierra Angels co-leads latest bridge round for Breadware, Inc.
Sierra Angels (“SA”) and the Mountainwest Tech Accelerator announced today that they have raised and closed the latest $700 thousand bridge round for Breadware, Inc.-the Reno-based, turnkey, IoT product development (PLM) software provider.
Sierra Angels members first invested in Breadware in April 2017 and they serve on both the Board and advisory boards of Breadware. SA has supported Breadware through 3 successive rounds of funding in the past 12 months, totaling over $1.9 million. Breadware has signed its first $1.3 million contract with a Fortune 100 company. The latest bridge round includes 3 established angel groups from the Angel Syndication Network (ASN) of the Western United States.
Bob Goff of Sierra Angels said: “Breadware’s product & service will enable Fortune 1000 companies to move their IoT product applications to market quicker and more dependably.
Likewise, Sierra Angels, in collaboration with UNR’s Innevation Center, MW Tech Accelerator and experienced local advisors facilitate the further acceleration of exciting new tech startup companies in this region.”
Gene Wong of the MW Tech Accelerator commented: “Breadware is a key example of how supportive we local, investor groups can be-here in the Northern Nevada ecosystem -to help dynamic and growing, young technology companies.”
About Breadware. (www.breadware.com)Reno, Nevada-based Breadware, Inc. is an IoT product development (PLM software) company launching a SaaS platform providing a complete suite of solutions from A-Z including the manufacturing supply chain to the enterprise.
About Sierra Angels. (www.sierraangels.com) Sierra Angels is this region’s premier funding source for early stage tech companies. Its mission is to facilitate successful company formations and scaling by providing funding, experienced advising and strategic connections and have done so for approximately 100 companies.About Mountainwest. (www.mwta.io)MountainWest Tech Accelerator is a Nevada-based advisory/accelerator/investment group whose purpose is to encourage and develop Nevada-based entrepreneurs toward scaled growth and advanced manufacturing. Our focus to date has been on the Internet of Things for the enterprise, robotics and artificial intelligence/NLP.
For more information contact, Gene Wong, email@example.com
Reno, September 11-13
Day 1: Tour of major tech expansion success stories in Reno, followed by BLUEPRINT kick-off event
Day 2: Inspirational keynotes, success stories and panel discussions accompanied by several small-group working sessions with all participants
Day 3: Bringing together all of Day 2's work, announcements of critical initiatives, and visionary keynote
For more information please use this link: http://vbevents.venturebeat.com/BluePrint
Five Star Bank (www.fivestarbank.com) and Moneta Ventures (www.monetaventures.com) announced today they are partnering on a new Venture Banking Program primarily focused on companies with high growth potential located in the Capital Region, or those intending to move to the region. Through the new program, Five Star Bank will provide debt financing to augment investments into companies by Moneta Ventures.
According to Lokesh Sikaria, Founding Partner at Moneta Ventures, “This new program will extend a start-up’s runway, reduce dilution of ownership and help to accelerate growth with comparatively lower cost to the start-up. A Five Star Bank loan provides a meaningful boost to augment Moneta Ventures’ initial investment into a high growth company.”
The bank recently hired Jon Gregory (a General Partner at Northern California Investment Funds I and II, ex-SARTA, & ex-Golden Capital Network) to develop and launch the program in conjunction with Moneta Ventures. James Beckwith, Five Star Bank President & CEO, said, “Five Star Bank has been very proactive in the Capital Region by actively supporting entrepreneurs and technology-focused businesses. We have expanded our efforts in this regard by bringing Jon Gregory on board. This partnership with Moneta Ventures is a natural extension of our commitment to entrepreneurs who live in our region or who want to do business here.”
Gregory said, “We aspire to be the premier banking partner for thousands of tech businesses and want to help start-ups and tech companies flourish in the Capital Region.”
For more information on the Venture Banking Program, contact Jon Gregory, firstname.lastname@example.org, 530-924-5125 (direct) or 530-518-5733 (cell).
In collaboration with University of Nevada Reno, Breadware and Watershed Growth Ventures, The InNEVation Center is excited to announce the inaugural InNEVator 2017, an IoT-focused bootcamp which aims to grow Reno's tech community by fostering innovative ideas.
The six-week program from October 2 - November 9 will welcome selected IoT startups from outside our region. Participants will receive professional guidance, active mentoring from successful, industry veterans, and a free working space where they can build prototypes with experts in the field. They will then get the opportunity to pitch their concepts to investors.
Startups focused on IoT-enabled technology are encouraged to apply online by August 28. Applicants should have a technical background and be focused on building a marketable platform. The project can be in concept phase with some proof of concept and market validation or more progressed in its development phase with a minimum viable product and some level of customer engagement.
Investors and sponsors are also invited to participate in the program. Multiple levels of sponsorships and investor involvement are available. For details please visit www.renoinnevator.com or feel free to reach out directly to me.
Thank you for spreading the word to your networks about the event. Please find the attached poster and sponsorship opportunities outline for your reference.