Funding
• Verrix LLC recently announced the initial close of a Series B funding round for $8 million. Proceeds will support the San Clemente-based device maker’s efforts to finalize development, regulatory submission and commercialization of its Verrix EVA Biological Indicator System.
It makes validation devices to provide rapid and accurate confirmation of the sterilization of surgical supplies.
The company told the Business Journal in June that it was seeking $8 million to $10 million. Including the latest close, it has raised $17.5 million.
The company is expanding to keep pace with its product development status, Chief Executive Cameron Rouns said.
It recently appointed two vice presidents for research and development, as well as quality assurance and regulatory assurance, respectively, completing the leadership team. It added two microbiologists and is recruiting for two additional development engineers and other support positions.
Verrix was founded as a stand-alone company in 2013; its technology is based on planetary protection technology developed at NASA.
Rouns said the company truly launched only recently, after it closed a Series A round in 2016 that enabled it to develop the technology from patented concept to prototype. He joined the company last year from Abbott Laboratories, where he served as vice president of Abbott Medical Optics division, now J&J Vision.
— Sherry Hsieh
• Anaheim-based cookie maker Nui Foods hit a home run two weeks ago after appearing in an episode of ABC’s “Shark Tank.”
The company raised $300,000 in return for a 25% equity stake from guest judge and former professional baseball player Alex Rodriguez, who said his girlfriend, Jennifer Lopez, loves cookies and eats one every night before bed.
Nui makes cookies tailored to the ketogenic, or keto, diet. It’s a low-carb, moderate protein and high-fat diet that has gained a following among celebrities, such as Halle Berry, LeBron James and Gwyneth Paltrow.
Co-founders Victor Macias and Kristoffer Quiaoit said part of their preparation for the show involved taking three shots of espresso and running sprints to elevate their heart rate and mimic the anxiety they would feel on the show.
The founders also took steps to ensure it would be able to meet demand ahead of the episode’s debut, including informing suppliers and checking website hosting in anticipation of high traffic.
Macias said sales have grown significantly since the show aired.
“The Shark Tank effect is real,” he said. “The first 24 hours, we had our highest sales day. We can confidently say that we surpassed what we raised in both [2016 and 2017] Kickstarters in one day.”
Nui, formerly Keto Kookie, launched in September 2016 after raising nearly $80,000 on Kickstarter.
In one year, the company sold $1.1 million worth of cookies. Flavors include peanut butter, chocolate chip, snickerdoodle and more recently, “ginger something.” It’s sold online and retails for $30 for a 10-pack totaling 20 cookies.
Quiaoit said there are plans to introduce new flavors next year, and it’s also hoping to make its products available in retail stores, such as gyms and specialty health stores, before eyeing larger distribution with chains such as Whole Foods and Walmart.
Quiaoit said the company is focused on reaching a broader audience. “We know there’s people who are just trying to get healthier.”
— Subrina Hudson
