SCRA Technology Ventures Announces Investment Approvals
Four South Carolina Companies Receive Board Authorizations
Summerville, SC - SCRA Technology Ventures’ SC Launch board approved investments in four South Carolina companies at their recent board meeting in Summerville. Charleston-area company First String Research, Inc., Greenville-based Servosity and Columbia companies Pandoodle and TerraStride all received approvals.
First String Research, an SC Launch company since 2006, is a privately held, clinical-stage biotechnology company that focuses on scar prevention, inflammation reduction, wound healing and complex tissue regeneration. This investment will be the fourth round of SC Launch funding for the company.
TerraStride designs and produces map-based software for high-value niche markets. They currently have two distinct product lines: TerraStride Pro, a land brokerage software, and HuntStand, a next generation hunting and land management software package. This will be the first investment round for TerraStride, who was accepted into the SC Launch program in June 2014.
Pandoodle is a leading computer vision technology company that focuses on image and video analysis, recognition and dynamic advertising customization. The company’s technology assists advertisers in strategically placing their online ads for relevant and engaging advertising and real time analytics. This is the third SC Launch investment for Pandoodle, who has been a SC Launch company since 2011.
Servosity delivers mission-critical disaster recovery as a service to Managed Service Providers and IT resellers - making servers un-crashable and files un-losable, eliminating downtime. During a disaster recovery situation, the technology allows for streaming of operating systems rather than waiting for information to download. Servosity, who is located at the NEXT Center in Greenville, was accepted into the SC Launch program in November.
“These investment approvals are confirmation of our continued commitment to South Carolina’s high-tech economy,” said SCRA CEO Bill Mahoney. “The diversity of these investments demonstrates our ongoing support to both veteran and new SC Launch companies with wide-ranging technologies. We look forward to many future successes and continued partnerships with these innovative companies.”
About SCRA Technology Ventures
SCRA Technology Ventures enables research commercialization and promotes the development of high tech industries, enhancing South Carolina’s technology-based economy. Through its flagship SC Launch program, this SCRA business sector makes investments in and offers supports services to South Carolina’s early stage, start-up technology companies.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $18.1 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000.