Banking & Finance  July 15, 2016

Door to Door Organics leads charge among area venture-capital deals in 2Q

Nine of the 19 venture-capital deals in Colorado during the second quarter were struck by companies in the Boulder Valley and Northern Colorado, led by Louisville-based online grocer Door to Door Organics Inc., according to the quarterly MoneyTree Report released Friday.

Door to Door Organics and its new partner, Charlottesville, Va.-based Relay Foods, garnered $10 million in equity financing provided by the Arlon Group and existing Relay stockholders.

The two online sellers of organic groceries announced in June a merger in which they plan to operate under a new brand to be disclosed later this year.

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The 19 deals in the state during the second quarter amounted to $78.5 million, compared with $44.6 million in 15 deals during the first quarter of the year.

Nationally, venture capitalists invested $15.3 billion in 961 deals in the second quarter. Compared with Q2 2015, dollars and deals are down 12 and 22 percent, respectively.

Other companies in the region that received venture capital during the quarter included:

Minute Key Inc., Boulder, $2.5 million from Matrix Partners and Serent Capital. Minute Key makes automated key duplication kiosks.

Rapt Media Inc., Boulder, $2.5 million from Boulder Ventures Ltd., Golden Seeds LLC and an undisclosed firm. Rapt Media provides a cloud-based interactive video creation and editing platform.

Woot Math LLC, Boulder, $1.3 million from and undisclosed firm. Woot Math offers mathematics instruction tools.

Kapteyn-Murnane Laboratories Inc., Boulder, $1.2 million from an undisclosed firm. K-M Labs is a manufacturer of laser systems.

Prieto Battery Inc., Fort Collins, $1,040,000 from Stanley Ventures. Prieto Battery is developing 3-D lithium battery technology.

Soundwall Inc., Broomfield, $1 million from an undisclosed firm. Soundwall makes a canvas that is a speaker and is connected to the Internet, enabling it to play music from a mobile device or play back the artist’s voice describing the painting.

Shinesty Inc., Boulder, $915,000 from Azure Capital Partners LP and an undisclosed firm. Shinesty is an online clothing retailer.

BiOptix Diagnostics Inc., Boulder, $800,000 from an undisclosed firm. BiOptix develops tools for the life-sciences industry.

The MoneyTree Report is compiled by PricewaterhouseCoopers LLP and the National Venture Capital Association based on data provided by Thomson Reuters.

Editor’s note: This story was revised shortly after being published changing the number of venture-capital deals in Colorado during the second quarter from 20 to 19. Thomson Reuters had listed an investment for Cherwell Software in Colorado Springs worth $8.2 million, but that deal was removed because it was a filing for employee stock options and does not count as VC funding.

Nine of the 19 venture-capital deals in Colorado during the second quarter were struck by companies in the Boulder Valley and Northern Colorado, led by Louisville-based online grocer Door to Door Organics Inc., according to the quarterly MoneyTree Report released Friday.

Door to Door Organics and its new partner, Charlottesville, Va.-based Relay Foods, garnered $10 million in equity financing provided by the Arlon Group and existing Relay stockholders.

The two online sellers of organic groceries announced in June a merger in which they plan to operate under a new brand to be disclosed later this year.

The…

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