Aliso Viejo-based accelerator OCTANe will showcase eight LaunchPad companies at its annual Technology Innovation Forum at the Newport Beach Hotel & Spa from May 31 to June 1. Presenting companies include:
• Adway: seeking $1.1 million seed round
Digital on-car advertisement platform that pays drivers for displaying ads on the sides of their personal or company vehicles. It plans to combine its projection technology with geo-fencing technology to enable brands to target specified locations and consumers.
• GigaIO: seeking $5 million Series A
Develops interconnected fabric designed to help improve current networking/computing model, increasing bandwidth 30% to 50% and reducing latency by 99.3%.
• Moving Analytics: seeking $1.2 million seed round
Digital cardiac rehab and prevention program designed to increase patient access to cardiac rehabilitation care to combat attendance barriers, such as distance, transportation and cost.
• Sapere: seeking $5 million Series A
Hardware and software data platform using wireless, cloud-connected sensors to test and monitor wine quality.
• Sitch Ai: seeking $2 million Series A
Develops self-learning, geospatially-aware technologies and products. Early commercial applications include intelligent detection, notification and response during active-shooter incidents; personnel and asset management for in-home elderly care; and management of foot traffic for various venues.
• Skylift: seeking $2 million Series A
Aerial transportation platform that makes heavy-lift drones that can carry 100 pounds of tools for 2 miles.
• TallyGo: seeking $5 million Series A
Navigation technology company whose software provides real-time traffic information, from minute-level traffic data injection and prediction, to advanced routing, nearest-neighbor search, and accident-decongestion analysis.
• Water Pigeon Inc.: seeking $1 million seed round
Develops software that enables water utilities and companies to collect and analyze usage data using its automated metering infrastructure capability, eliminating manual meter reading.
OCTANe is also highlighting NGD Systems Inc., “our success story company,” according to JC Ruffalo, director of LaunchPad and investor relations.
NGD develops computational storage platform allowing users to create, manage and execute applications within its SSD storage software. It’s seeking a $7 million Series B.
— Sherry Hsieh
Failed ICO
Aliso Viejo startup TrustaBit failed to meet its fundraising goal for an initial coin offering.
The company, which wanted to raise a crowdfunded $3 million to $49 million, had planned to use the proceeds to launch a software company utilizing blockchain’s decentralized authentication technology to allow airlines to issue vouchers instantly and electronically to customers when flights are delayed or canceled.
“Our ICO launch proved to be a far more difficult task than we originally anticipated,” co-founder Saritta Hines said in an email to investors and company watchers. “This has been an eye-opening experience and a valuable lesson. What we have learned is that sometimes you must slow down to speed up.”
Backers were refunded.
The company plans to launch an ICO through StartEngine, an equity crowdfunding platform based in Hollywood. It recently joined the strategic partner program of the International Air Transport Association, which represents more than 280 airlines, or 83% of total air traffic, and helps formulate aviation policy.
Last year 425 startups raised $5.6 billion through initial coin offerings, according to Fabric Ventures and cryptocurrency tracker TokenData. More companies, 478, failed to meet their minimum fundraising goals.
— Chris Casacchia
