Monday, September 24, 2012

Two Flywheel Ventures Firms Get New Funding

Two portfolio firms out of New Mexico's Flywheel Ventures have scored followup funding this morning. Both Tribogenics, a developer of futuristic technology for handheld X-rays, and Trackvia--who have received prior investments from Flywheel--announced follow on rounds this morning. Tribogenics new funding was worth $6.2M, and was led by the Founders Fund; TrackVia's $7.1M funding round was led by Longworth Venture Partners and Fairhaven Capital, and also included Access Venture Partners, Draper Associates and Allen & Company, in addition to Flywheel. Tribogenics technology is aimed at enabling things like handheld x-ray diagnostic devices (think Star Trek's tricorder); TrackVia's software is used for enterprise application development. More information »