On2Locate receives more Seed money
RIDGELAND — Mississippi Technology Alliance (MTA) president and CEO Tony Jeff announced that On2Locate Inc. of Ridgeland has received a second-round New Venture Development investment from the Mississippi Seed Fund.
MTA awarded $100,000 to On2Locate to finalize launch of the company’s product, SilverFox Link. SilverFox Link is a medical alert personal emergency response system with benefits far greater than similar products on the market today.
The company achieved all goals and milestones in their first round of funding, including development and completion of a working prototype of the SilverFox Link device, which made them eligible for second-round funding.
“We are honored to receive this second round Seed Fund investment from MTA,” said Owen P. Lalor, CEO of On2Locate. “It is assuring to know that MTA, our governor and the Mississippi Legislature support and encourage companies like On2Locate in the development of innovative products for the Mississippi and national markets.”
The Mississippi Seed Fund, managed by MTA, was established by the Mississippi Legislature to provide high-tech start-up companies with access to pre-seed financing, early stage risk capital and product development capital to accelerate the development of high-performance, innovation-based business ventures in Mississippi. Recipients must have a cash match from accredited investors to obtain funding.
To sign up for Mississippi Business Daily Updates, click here.
One Response to “On2Locate receives more Seed money”
FOLLOW THE MBJ ON TWITTERMy Tweets
Twang & Tourism: The Country Music Trail
Top Posts & Pages
- Officials set hunting dates for birds; expands dove season by 20 days
- Brandon man hauls in record 756-pound alligator
- Is cotton looking too good? Farmers facing weaker prices
- Woman found guilty of murder in buttocks injection case
- REVVING UP — Motorcars of Jackson is preparing to open its first-ever showroom on I-55
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- FLIPPING OUT — Flipping houses is popular in much of the country, but in Mississippi ...
- Healthcare Marketplace to look much the same in 2015
- Mississippi judge dismisses lawsuit seeking to overturn Sen. Cochran's GOP primary win