Springfield-based technology startup CellARide LLC received $175,000 in capital from public-private partnership Missouri Technology Corp.
CellARide is one of 12 companies statewide sharing in $2.15 million in early-stage investment awards designed to support the growth of the business and add jobs. Missouri Technology Corp. received 25 applications asking for $6.8 million. Through the organization’s Innovation, Development, and Entrepreneurship Advancement Fund, companies also must have funding from private investors to qualify, according to a news release.
“We are supporting Missouri’s thriving innovation community as well as attracting the talent to match,” MTC Executive Director Bill Anderson said in the release. “Thanks to Gov. Nixon’s commitment to building up our state’s entrepreneurial ecosystem, we can work to make sure that the next big idea happens right here in Missouri.
“These firms are great examples of how creativity, technology and innovation can come to life and turn into a lucrative business.”
CellARide, which offers a text-message marketing service for the auto dealer industry, in February secured $100,000 from two investors, bringing its total raised to $640,000, according to
Springfield Business Journal archives.
CellARide’s CarInfoToGo service allows users to text a short code for more information on a vehicle and also sends dealers contact information for those browsing their inventory.
The MTC also awarded $150,000 to Joplin-based LocalRaces to further develop its race event management platform, according to the release.
State funding for the MTC has risen to $18 million in fiscal 2016 from $2.1 million in fiscal 2011. The fiscal 2017 budget is adding another $4.6 million. The MTC is a partnership with the state Department of Economic Development and the Missouri Life Sciences Research Board.
