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Fundings: EXL raises $1.3M; ProctorFree nets $2M (+ video); Phytonix lands $1.7M

Venture Capital

Sep, 25 2017, 7:29 AM

Three startups outside of the Research Triangle have raised new capital, according to SEC filings. Here are the details.

GREENSBORO - 2017-launched startup EXL has raised $1.3 million from 12 different investors.

EXL, which classifies itself as "other technology," wants to raise $2 million.

Principals involved with the company include Alexander Varlamov, company president Stanlislav Varlamov and Joseph Jeong.

The funding came in the form of options.

EXL said it did not intend for the funding to last more than one year.

How the funds would be spent was not explained.

The SEC filing was made Sept. 22.

By Bryce Lapping, NCBNW

HUNTERSVILLE - A Huntersville, North Carolina-based company has raised nearly $2 million in a private equity offering, according to a Form D filed with the Securities and Exchange Commission on Friday.

ProctorFree Inc. completed its goal of raising just more than $1.98 million. The company did not say how it planned on using the funds.

[VIDEO: Watch an overview of the company at https://www.youtube.com/watch?v=JOlUuULxXnc ]

“ProctorFree is an online, on-demand proctoring service that allows students to take exams from anywhere using the computers webcam and internet connection,” the company states on its website.

Additionally, ProctorFree hopes its platform will be used for verifying student identities and human resources hiring.

CEO Andrew Caldwell signed the form. Caldwell took over executive duties at ProctorFree in April 2017. Previously, he worked as the vice president of business development for the company.

Chief Operating Officer Michael Murphy and directors Mark McDowell, Jonathan Boggiano and Steve McLeod are also listed on the form. More information about the ProctorFree team can be found here.

By Charlotte Chilton

BLACK MOUNTAIN — Phytonix Corp., a solar chemical company based in Black Mountain, has raised $1.7 million in equity and options, according to a filing with the Security and Exchange Commission.

Black Mountain-based Phytonix will use a portion of the proceeds for executive compensation. Of the $3 million total offering amount, $1.2 million is remaining to be sold.

Phytonix, formally known as Planktonix, aims to create a solution to energy dependency and climate change through the production of sustainable chemicals and fuels from carbon dioxide.

The company’s CEO and founder is Bruce Dannenberg. His industrial career has focused on the management of the technology commercialization process and of manufacturing high technology processes and products.

He has been involved in the semiconductor industry, the biotechnology industry, and the capital markets arena.





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