Dallas, Oct. 06, 2016 (GLOBE NEWSWIRE) -- Tech EdVentures, a Dallas-based company focused on providing STEM-based education to young learners in PK-8th grade, has announced that it has raised $675k in seed funding. The raise was structured as a convertible note and was syndicated by Tech Wildcatters, a venture capital seed fund and nationally ranked accelerator. The round included lead institutional investor, Deep Space Ventures, with the participation of angel investors from Dallas, Atlanta, and Pittsburgh.
"Tech Wildcatters, Deep Space Ventures, and our angel investors bring amazing vision to the table," said Dr. Allen Selis, CEO of Tech EdVentures. "Their skills will help us turn inspiration into benchmarks as we move forward."
Tech EdVentures entered the Tech Wildcatters Gauntlet accelerator program in February of this year, and through the program activities and mentoring, revenue has increased over 66% in Q2 and 75% in Q3. Deep Space Ventures is an investor in Tech Wildcatters and provides investment and mentoring to select startup companies in the program.
"Dr. Selis and the team at Tech EdVentures are leading a revolution in education. The way we educate our children and give them the knowledge and skills required to succeed later in life is moving away from the archaic, industrial-age system that leads to immense college debt and limited job prospects. The next generation of education includes early childhood training that prepares people for the economy of the future when demand for technology talent will only increase. We are extremely excited to be partners with the team at Tech EdVentures," said Stephen Hays, Managing Partner of Deep Space Ventures.
"Tech EdVentures generated a tremendous level of interest from the investor community, and in two weeks, the round was closed and oversubscribed,” said Robert Brevelle, Managing Director of Tech Wildcatters. "Dr. Selis is an accomplished leader and educator, and his outstanding track record has created a solid foundation to grow the company and to expand the critical mission of educating our children for the competitive world ahead.”
Angel investors funded the remainder of the round and came from the Tech Wildcatters network.
“I am impressed with Dr. Selis and his vision in solving a glaring need for present day parents in providing high-quality education in technology for kids at a very young age,” said Ricky Tejapaibul, an angel investor and mentor for early stage companies. “Having worked closely as a mentor for Tech EdVentures under the Tech Wildcatters Gauntlet program, I am confident in Dr. Selis’s ability to carry out this vision. There is tremendous growth potential in this market and Tech EdVentures is now well positioned to make the next leap forward. I am excited to help fuel this growth.”
The investment will be used to expand operations to include a new Dallas headquarters, develop an attractive franchising model, and support marketing and sales programs.
About Deep Space Ventures
Deep Space Ventures is a venture capital fund, based in Dallas, Texas focused on making pre-seed, seed and series-A investments in start-ups. The fund was established in March 2016 by Managing Partner, Stephen Hays, and has made seven investments to date. Deep Space prefers to invest at the seed stage, in a meaningful way, then continue to add value not only through follow-on capital, but by investing time and energy in helping founders realize their maximum potential. For more information, visit the Deep Space Ventures website at http://deepspacevc.com.
About Tech Wildcatters
Tech Wildcatters is a global venture capital seed fund and nationally ranked startup accelerator based in Dallas, Texas. Founded in 2009 as one of the first accelerators in the world, it is consistently ranked as a top 10 accelerator. Tech Wildcatters operates a global network of entrepreneurs, mentors, subject matter experts, corporate partners, and investors and employs the performance based Gauntlet Methodology to accelerate companies and to help entrepreneurs achiever higher levels of success and impact. Tech Wildcatters invests at the pre-seed, seed, and series-A, and partners with companies to achieve long-term, strategic results to include scale, market leadership and operational excellence. For more information, visit the Tech Wildcatters website at http://www.techwildcatters.com.
About Tech EdVentures
Tech EdVentures is where savvy parents bring young kids to learn high-tech skills. The company was founded by a former private school leader from Palo Alto who realized that 90% of American schools do not provide kids with an adequate foundation in technology literacy. Tech EdVentures offers in-person classes where kids learn to build robots, write computer code and design digital content under the direction of expert mentors. Since its launch in Dallas in 2014, Tech EdVentures has experienced dramatic growth and received critical acclaim from parents. Its happiest customers are Tech EdVentures’ kids, who finally have a classroom that matches their incredible potential. For more information, visit the Tech EdVentures website at http://www.techedventures.com.
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