A roundup of fundraising rounds secured in recent weeks by local startups, according to documents filed with the Securities and Exchange Commission:
Plain Sight Capital — $10.2 million
Plain Sight Capital has set a $65 million target for an investment fund and has raised nearly $10.2 million toward that goal, federal filings show.
The venture capital firm invests in early stage companies with underrepresented founders, largely in the software-as-a-service space. Plain Sight Capital Fund L.P. currently has 27 investors, according to documents. Plain Sight Capital was cofounded in 2020 by Alex King and Sylvester Mobley, both leaders in the Philadelphia tech and VC scene who are striving to create more equity in the space. Mobley is also the founder of Coded By Kids, a nonprofit that has been supporting tech education for young people from underrepresented backgrounds for a decade in Philadelphia.
The venture capital firm has already invested in four businesses: Sweft, Stimulus and Accencio, all based in Philadelphia; along with Miami-based Kiddie Kredit.
Nexteon Technologies — $4.79 million
The aviation tech firm raised $4.79 million from 30 investors, according to filings.
Nexteon Technologies was launched in 2017 by four co-founders with decades of experience at NASA, on Wall Street, in communications and in aerospace engineering. Originally founded as Route Dynamics Corp., the Ambler-based firm works to develop and commercialize technologies to address challenges in aviation.
Its SmartRoutes product functions to optimize air routes based on weather to help airlines save time and fuel on their trips. It acquired a German firm working in aircraft surveillance in 2021 and launched its SecureTrack, which monitors aircraft transmissions in an effort to create more secure flights. The two technologies are in trials or under evaluation by a number of airlines, government regulatory agencies and other potential customers, according to the company.
Love My Delta — $3.1 million
The beauty technology company raised some $3.1 million of a $4.3 million round earlier this month from 24 investors. The company's app, Jackie, uses machine learning to track cosmetic progress after receiving aesthetic treatments or procedures. Love My Delta was founded by plastic surgeon James Smartt in 2020 and is based in Bala Cynwyd. Smartt graduated from the University of Pennsylvania's Perelman School of Medicine and was a resident there.
Verdafresh — $1.2 million
The Wayne-based startup creates food storage products out of recycled materials. It's looking to raise $2 million and has raised just under $1.2 million from eight investors thus far. In September 2021, Verdafresh raised $2.5 million in a seed round from Rhapsody Venture Partners. Verdafresh was founded by Fred Levitt, a veteran of the packaging industry, and is now helmed by Dave Klopp, a University of Delaware alum with an extensive career in packaging.
