Done Deal: Recent fundings secured, contracts inked and deals done, for the tl;dr crowd
Wellington-based software as a service start-up Noted Limited has raised over $500,000 through a private crowdfunding campaign on PledgeMe.
Scott Pearson, Noted’s founder and CEO, originally developed the concepts that underpin the cloud-based electronic medical record and health practice management software while looking for a better way to track the outcomes of acupuncture patients.
“I shifted careers from broadcast design and 3D animation software development to acupuncture after selling an earlier startup, Character Animation Technologies to a Fortune 500 company in 2006.” Pearson said. “I enjoyed my new career, but was frustrated when I couldn’t take notes the way I wanted to with existing tools. In particular, practically capturing and reporting on outcome data was very limited. After some research I realised the issues I’d identified extended right across the health sector, so I decided to develop a solution.”
Noted launched the first public version of their software solution in June 2017 to a small number of clinics, with users so far including acupuncturists, massage therapists and dietitians. Content is also in development for psychologists, mental health nurses, physiotherapists, osteotherapists and others.
Their private equity crowdfunding campaign launched on 29 August, with a minimum goal of $100,000. They hit their maximum goal of $500,000 in fewer than two weeks.
The money raised will go towards developing and marketing their product, with a view to achieving a significant beachhead in clinics with less than 20 clinicians by mid-2018.
The entire Australasian market has over 785,000 potential users, with a potential of over $433 million per annum.
PledgeMe CEO Anna Guenther said it was exciting to support Noted’s private campaign.
“The team were really clear that they didn’t want to go over the 50 voting share parcel mark, so felt that a smaller private equity crowdfunding campaign would make sense for them,” Guenther said. “It meant they could go a bit wider than their normal crowd, and have a clear process for their interested investors. We’re excited that they met their goal so quickly, and now have the funds they need to take their healthcare software to the world.
James Brown has taken over as the new general manager of FinTechNZ. The move comes as FinTechNZ signed a Memorandum of Understanding with the Singapore FinTech Association, and are working towards expanding their international footprint with other like-minded organisations such as NZTE, Callaghan Innovation and Xero to drive New Zealand’s tech story. It also comes as Auckland prepares to host Finnotec 2017. This event brings together FinTech thought leaders and speakers from New Zealand and overseas to discuss the future of FinTech.
Louise Webster and Andy Blackburn are stepping down from New Zealand Innovation Council.
The co-founder and CEO of the Innovation Council and owner and convenor of the NZ Innovators Awards, Webster has spent decades developing innovation programmes and managing innovation, new product development and marketing teams. Blackburn joined the Council in 2013, leading the charge on innovation processes and ideas within large companies like Carter Holt Harvey, Contact Energy and Vector Networks.
Louise Webster and Andy Blackburn.
SODA Inc has announced that Erin Wansbrough as new chief executive. Wansbrough will take over next month. She most recently worked at Adherium, a New Zealand digital health business, addressing the problem of adherence to prescription medicine through the commercialisation of digital health technologies.
Wansbrough said she is excited to join the Hamilton-based company. “My passion is in assisting entrepreneurs to build successful companies and to provide them with opportunities in industry, network development, education and investment. The team at SODA Inc has been instrumental in growing and strengthening businesses throughout New Zealand and it will be a privilege to be able to lead an organisation that understands the growing pains, grit and perspiration required in the pursuit of business success. I’m keen to continue the excellent work the team at SODA Inc has been doing, as well as working with a supportive board and shareholder, Wintec.”
SODA Inc chair Graham Gaylard, who announced the chief executive appointment to clients and staff this week, said he’s delighted to have Wansbrough on board. “Erin has great depth and knowledge about business innovation and commercialisation. SODA Inc has been going from strength to strength over the past year and we believe Erin’s connections, experience and drive will help take SODA Inc to the next level.”
Buggy manufacturer phil&teds has expanded to Thailand. Chief executive Campbell Gower said that Thailand remained an untapped market for the business. “This is the first time our products will be available to purchase in Thailand. We’ve experienced strong returns in other Southeast Asian countries which, of course, we hope to replicate.”
As of September, the business has seen a 160% year-on-year increase in sales revenue for one market, compared to the same period last year.
Gower said total sales for that market are expected to grow this year – achieving, what would be, a record breaking year for Singapore, as well as contributing to a forecasted full year increase of 195%.
The company is currently in Germany showcasing products at the baby trade fair Kind & Jugend.
CropLogic, the predictive decision support system for agricultural growers, has listed on the ASX.
The company has also announced it raised more than $9 million for its IPO, and opened on the ASX offering 40 million ordinary shares at an issue price of $0.20 per share, with $5 million of the capital raised underwritten by Hunter Capital Advisors.
Jamie Cairns, managing director of CropLogic, said the results were a good sign. “The funds raised will be used to grow the business, fund market development, research and development and provide a healthy level of working capital.”
CropLogic’s listing on the ASX also follows the Company’s recent announcement of the acquisition of US-based agronomy services company Professional Ag Services Inc. The acquisition provided CropLogic with strategic access to the lucrative North American agricultural industry.
CropLogic currently serves approximately 60,000 acres of high-value crops in the US.