New Mexico venture capital firm GOS Capital in May made its sixth investment, contributing $10,000 to cell phone reception startup ORC Tech.
The investment is set to be followed by four more investments by the end of the year. GOS was founded by real estate professional Scott Goodman, who unveiled the VC last year.
The investment in ORC Tech was made one week ago, cofounder John Chavez told Business First.
ORC Tech is working to boost cell phone reception. The startup's technology is licensed from NASA, according to Chavez, who is the former president of the New Mexico Angels. ORC Tech was named one of Business First's first-ever Startups to Watch list, a collection of companies to keep an eye on over the coming year.
"The capital from GOS will be to take the cell phone booster to market," Chavez said.
In an email, Goodman told Business First that GOS “decided to make the investment because of the strong patented technology, total addressable market and the team behind the company.”
Other portfolio investments — ranging in value between $10,000 and $30,000 — include nanotechnology startup IR Dynamics, e-commerce platform Rerouted, water desalination company EVUS, health platform WaveOn, and e-sports startup Champria.
ORC Tech’s other investors include the Arrowhead Innovation Fund, a seed and early-stage venture capital fund, through an investment in the New Mexico Start-Up Factory.
To date, ORC Tech had raised about $200,000, according to Chavez.
