By Iris Dorbian
@2014 Thomas Reuters
July 31, 2014
Roll-2-Roll Technologies has received $520,000 in funding. The investors included Oklahoma Seed Capital Fund and SeedStep Angels, both of which are managed by i2E. Cowboy Technologies and the co-founders of Roll-2-Roll also participated in the round. Based in Stillwater, Oklahoma, Roll-2-Roll is developing a lateral guide for manufacturers that produce consumer products with raw materials that come in the form of rolls.
PRESS RELEASE
OKLAHOMA CITY, OK — The i2E, Inc.-managed Oklahoma Seed Capital Fund recently closed a $250,000 investment in Roll-2-Roll Technologies, LLC, leading a $520,000 financing round in the Stillwater, OK-based company that is developing advanced technology that enhances manufacturing from rolled materials such as diapers.
Participating in the investment round was the SeedStep Angels group, also managed by i2E, which invested $100,000. Other investors included Cowboy Technologies LLC and Roll-2-Roll co-founders.
Founded in 2013, Roll-2-Roll is developing an industrial device called a lateral guide for manufacturers who produce a wide variety of consumer products with raw materials that come in the form of rolls. The lateral guide will provide alignment of the materials within the roll-to-roll manufacturing machines and enable users to reduce waste and downtime in the manufacturing process.
“Since we are in the early stage of the product development process, this investment will bring the technology from the lab prototype state to a commercial product,” said Aravind Seshadri, Roll-2-Roll co-founder and President. “We also will invest in product testing with customers and in market development.”
The lateral guide technology was created at Oklahoma State University and spun out in Roll-2-Roll.
“We are currently working to integrate all the components of a lateral guide into a complete product,” Seshadri said. “We anticipate bringing the finished product to market in the next 12 months.”
The Oklahoma Seed Capital Fund is a state-appropriated investment fund through the Oklahoma Center for the Advancement of Science and Technology.
The SeedStep Angels were founded by i2E in 2009 and is now the state’s largest angel investment groups with over 40 members and chapters in Oklahoma City, Tulsa, Ardmore and Muskogee.
About Roll-2-Roll Technologies, LLC
Founders and Management: Aravind Seshadri, President and Chief Technology Officer; Carlo Branca; Pedro Velasco, Chief Operating Officer; and Prabhakar R. Pagilla.
Year Started: 2013
Location: Stillwater, OK
The Roll-2-Roll Technologies tackles a problem that plagues manufacturers of roll-based products, which is the misalignment of the materials as they roll within the machine during the manufacturing process. The company’s lateral guide uses a patented fiber optic sensor, an actuator and an intelligent controller to align material in roll-to-roll manufacturing machines, reducing downtime and expense of manually realigning products. Potential markets include commercial printing, label and package printing, non-woven product manufacturers, hygiene product manufacturers and flexible printed electronics manufacturers, among others.
About i2E, Inc.: With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses. i2E has more than $40 million of investment capital under management.
Click here to read the article at Reuters PE HUB.
