Wednesday, September 19, 2012

Tech accelerator invests in six more companies - STLtoday.com

Capital Innovators, a technology accelerator fund based in St. Louis, has announced investments in six area companies, including two that previously won funding from the Arch Grants.

The companies will move into T-Rex, the technology incubator space in downtown's Railway Exchange Building, for an intense 12-week mentoring program. Capital Innovators will invest $50,000 in each company.

The fund, launched a year ago, had previously invested in 13 startup companies. Judy Sindecuse, president of Capital Innovators, says the companies have increased in value by 150 percent and have attracted $10 million in follow-on investment. They employ 120 people.

Sindecuse announced the latest accelerator class on Tuesday night. The companies are:

  • AdFreeq, a socially integrated classified advertising service launched in Columbia, Mo.
  • Food Essentials, which is compiling a database of nutritional information from food labels.
  • IDC Projects, a developer of mobile games.
  • SEA, a price-comparison app for online shoppers.
  • Tunespeak, a social network for music fans to connect with their favorite bands.
  • Viewpoint, a developer of enterprise collaboration software.

Food Essentials and IDC Projects both won $50,000 Arch Grants prizes in May. That contest, designed to attract startups to St. Louis, also houses its winners in the T-Rex space.

Capital Innovators partner Hal Gentry said the fund had 110 applications for the latest class.

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