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Fundings: Chapel Hill's BioFluidica lands $4.1M; Charlotte's Airwavz pulls in $3.5M; Pittsboro's Snap raises $520K

Venture Capital

Jul, 28 2017, 7:06 AM

Three emerging North Carolina companies have pulled in additional capital this week: BioFluidica, Airwavz and sleep apnea startup Bleep.

Chris Roush of North Carolina Business News Wire has the details.

A Chapel Hill-based biotechnology company has raised $4.1 million in a private equity offering, according to a filing Thursday with the Securities and Exchange Commission.

BioFluidica Inc. raised the money from nine investors, according to the filing. It raised $2 million in 2016.

The company’s diagnostic platform provides a non-invasive procedure that can be applied to many diseases where there is a need for improved diagnostics.

The platform has been validated for six different cancer types, stroke and infectious diseases.

Its founder is UNC-Chapel Hill biomedical engineering and chemistry professor Steven A. Soper, who is the company’s chief technology officer.

He is a worldwide recognized pioneer in the development of diagnostic platforms with over 12 years of experiences in the CTC research area along with being the author of five patents currently licensed by BioFluidica.

BioFluidica’s Chief Executive Officer is Rolf Muller. Prior to joining BioFluidica, he was the co-founder and president of Biomatrica, which he developed into a leader in biopreservation technologies for diagnostic and health care companies.

A Charlotte-based telecommunications company has raised an additional $3.58 million in a private debt offering, according to a filing Wednesday with the Securities and Exchange Commission.

Airwavz Solutions Inc. raised the money from 37 investors, according to the filing. The company raised $1.5 million in October 2016.

The company designs, develops, owns and operates wireless infrastructure platforms as a service for building owners.

Approximately 80 percent of mobile data consumption originates or terminates inside buildings, and only a small fraction of buildings have adequate wireless infrastructure, according to the company.

The company’s CEO is Brad Davis, a 25-year telecommunications and technology veteran with experience in corporate, private equity and early stage growth companies. He was named to that position in May.

Most recently, Davis served as CEO of ProctorFree, an online identity and machine learning company.

Davis is the former President and CEO of DukeNet Communications LLC, a regional fiber optic network company.

When named president in 2003, the business was in decline and valued at $45 million. By 2010, he led the sale of DukeNet at an enterprise value of $274 million, creating a joint venture with Alinda Capital Partners, a New York-based private equity firm.

A company developing a strapless and adhesive mask for sleep apnea patients has raised $520,000 in a private equity offering, according to a filing Wednesday with the Securities and Exchange Commission.

Snap CPAP LLC raised the money from 14 investors, according to the filing. The company also raised $50,000 in January 2016.

The Pittsboro, North Carolina-based company was founded in 2015 and has developed a mask that’s 25 percent lighter than a nasal pillow mask. It’s small and light and leaves no marks on your face.

Sleep apnea is a breathing disorder that causes people to stop breathing while they are asleep. At affects approximately 2 percent of the population and is most common in people between the ages of 55 and 60.

Its founder is Stuart Heatherington, who is CEO of Bleep LLC.

Heatherington is a part-time novelist. His first book, “The Weight of Glass,” is available on Amazon Kindle. At present he is a member of the South Carolina Writers Workshop and Raleigh Write 2 Publish. He attended the University of North Carolina at Charlotte where he graduated with a BA in history and developed a love of writing.





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