ATI Companies Raise More Than $35 Million in First Quarter

images-9The Austin Technology Incubator, known as ATI, in the IC2 Institute at the University of Texas at Austin, reported its companies raised $35 million during the first three months of 2013.
During the last five years, ATI companies have raised more than $250 million of investor capital.
The ATI companies reporting funding in the first part of this year are as follows:

  • Spredfast, a social marketing software provider, raised $18 million in venture capital led by OpenView Venture Partners with InterWest Partners and Austin Ventures.
  • Savara Pharmaceuticals received a $7.4 million second tranche of a its 416 million Series B financing and received a $4 million grant by the National Institutes of Health. Savara develops pulmonary drugs to treat Cystic Fibrosis.
  • Xeris Pharmaceuticals raised $1.7 million in venture capital and $1.9 million from the Texas’ Emerging Technology Fund for the commercialization of its Glucagon Rescue Pen (G-Pen) ™ and G-Pen Mini™ for diabetes treatment.
  • Admittance Technologies received $2 million from the ETF for the development and commercialization of CardioVol™, their first platform technology, which enhances the performance of existing cardiac devices and the detection of early signs of heart failure.
  • WheelInnovationz received $868,000 in seed funding to continue the development of its mobile-device management software.

“Our number one job is to get ATI companies funded. We accomplish this by surrounding them with talent they couldn’t access otherwise,especially at their early stage,” Isaac Barchas, director, Austin Technology Incubator, said in a news release. “Q1 2013 delivered on this, and we congratulate our portfolio and alumni companies on their momentum.”

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