It’s been a successful month for Flower Turbines, ECFX, and Adranos. The three companies were all previously named to Pepperdine Graziadio Business School’s Most Fundable Companies list in 2020, which identifies and connects promising early-stage companies with resources and opportunities to seek funding outside of usual major investment areas, like Silicon Valley or New York.
Pepperdine Graziadio is a leading academic institution in entrepreneurship specializing in second stage entrepreneurs as a way of highlighting our suite of MBA programs. The top companies selected for the annual MFC list receive national recognition and are featured at the Business School’s annual October showcase event in Malibu. Companies receive exclusive brand exposure to potential strategic partners, investors, customers, and new hires.
Flower Turbines’ latest funding campaign recently achieved a major milestone, surpassing $1.5 million raised through equity crowdfunding. The company makes small wind turbines with aerodynamic innovations that allow them to change the world market for uses near people and buildings. It combines aerodynamic innovations with beautiful design, low noise, and bird friendliness. Unlike other turbines, they make each other perform better when tightly packed together.
ECFX, the leading provider of electronic court notice management for law firms and corporate legal teams, raised $7 million with the help of Growth Street Partners, the LegalTech Fund, Cove Fund, and other existing investors. ECFX will use the $7M investment to expand its platform and further its leadership position in a rapidly adopting market.
ECFX was founded by Dan O'Day (JD/MBA '93), and Nelson Quintero (JD '92), both alumni from Pepperdine Graziadio Business School and lawyers each with over 25 years of experience in the legal and legal technology industries. Many litigation firms still process notices manually, leading to increased risk and higher costs. Research has shown that over 50% of law firms report missing court notices. ECFX's platform solves this, as well as minimizes non-billable hours that docketing teams, legal assistants, paralegals, and lawyers spend manually downloading, profiling, and distributing information from ECF notices from state and federal courts.
Adranos, a manufacturer of solid rocket motors, was recently acquired by defense contractor Anduril Industries.
Founded in 2015, Adranos manufactures solid rocket motors in coastal Mississippi and last year opened a fuel-production facility in Indiana. The company also develops high-performance solid rocket fuel, called ALITEC, to power solid rocket motors used in tactical missiles and space launch vehicles that can increase the range or payload capacity of launch systems by up to 40%.
Adranos CEO Chris Stoker said the acquisition will help the company “rapidly mature our technology and scale our team and production capabilities to thousands of traditional and ALITEC solid rocket motors per year.”
“Through this acquisition, Anduril will become a merchant supplier of solid rocket motors to prime contractors delivering missiles, hypersonics and other propulsion systems for the Department of Defense’s most important programs,” Anduril said in a statement.
LINK TO ORIGINAL PUBLICATION
Read articles on each of these companies’ recent milestones in EIN Presswire, Cision PR Newsire, and SpaceNews.
