DATA-FLYTE, the Knoxville provider of technology and services for reading utilities' meters from airborne platforms, "just locked-down our first round" of capital, said Jack Dischner, its CEO, president and majority owner.
Dischner told VNC the company raised $450K of an original $600K goal, with $400K of that from Blank Slate Ventures (BSV), based in Chattanooga. The cap table now has about 10 individuals and entities, including Dischner and co-founder Dan Morris, an attorney and technologist.
Jack Dischner was in his yard three years ago when a utility meter reader in a white truck drove by his house.
While the technology for reading meters has advanced since the days of walking door to door, Dischner was convinced there had to be a better way.
The result is DataFlyte, a Knoxville startup that gives utilities the ability to read gas and water meters at residential and commercial properties from the air. Read more here.
It's not often that a brand new fund's first investment gets acquired only 30 months after the first dollar was invested. But in the case of Blank Slate Ventures and QuickCue, that's exactly what happened!
The team at Blank Slate Ventures is honored to have been a part of this company from day one. We wish OpenTable and QuickCue the best moving forward and look forward to continuing to build Chattanooga's startup ecosystem!
Variable Inc continues to clean up for its NODE device. Southland, one of the nation's hottest new technology and entrepreneurship conferences, names Variable Inc the conference's "Most Innovative Startup."
We love seeing portfolio companies build great products and gain validation from their market. We also love to see additional validation from the investment community. Read about QuickCue's $2.7 million raise on Chattanoogan.