Ju Zhang came to ADI back on 11 February 2016, early days. Then again 8 November 2018, with traction and a path to market. Pitched, then DD with FKA. Today Debra who took the lead confirms $1.25m in overfunding on this $850k round for FormusLabs. We did the deal in four months and over the summer break, AWESOME!
The five biggest investors are FKA, Uniservices, Cure Kids Ventures, MIG Angels, NZVIF, with sizeable investments from the board and team. Great to partner again with Uniservices following StretchSense. This is our first time syndicating with Cure Kids Ventures who bring great med tech know-how and connections. Robust DD and SHAG discussions with MIG Angels have served to further strengthen our relationship.
Let's welcome Jenn to the FKA team! She has passed the Veto Gate without incident. One more thing that has surfaced since last week is this podcast from grlpwrpod.com (Girl Power Pod).
Ky has been a regular at ADI and has also helped Moxion. He has worked at Everedge IP, NZTE and is now with PWC. A salesman at heart and motormouth to challenge Paul Trotter. Naturally, Ky has talked with Paul, also Mike Hanna and Rudi. All feel there is a good mutual fit.
However, if any of you know things that could veto Ky's joining, then speak up and raise your concerns in confidence with the FKA directors.
Thankfully Kami has kept some of that juvenile charm that made their 6th birthday party a lot of fun. They now have a team of 18. Talking to staff away from the founders, it is clear that they love what they do and they love what the company does. Unexpectedly, Kami is having a really positive impact on kids with learning difficulties apart from helping teachers run a paperless classroom.
Two big paella pans and a dedicated barman made for perfect catering. A just application of funds was the view of two investors on the night, Rudi from FKA pictured with the unicorn and Ben from Right Click Capital sporting the bihorn.
Wednesday night was Demo Day of the Centrality Accelerator. Six interesting pitches, several that had come through ADI, and Yabble pitched to FKA last year. There were at least nine FKAngles in the room: Debra, Erick, Karl, Heath, Jackie, Paul T, Ralf W, Rudi and Uli, and FKApprentice Nawaz, furthermore one FKAwannabe Andy H.
But hang on, that's not all! Erick and Karl were mentors to the program, as was FKAsponsor extraordinaire and sword-wielding strongman of Potentia, Nate.
Just in. A startup with $1m+ ARR traction in the courier industry is seeking funding. The static image is part of their pitch deck and promo material. Points for that from the editor and a GIF addition.
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Callaghan Innovation plays an important role in New Zealand's innovation ecosystem. To some it is like a Golden Goose that gives them access to soft loans. In turn, these loans are being brokered for a 33% fee by some.