Thursday, October 22, 2015

Ampy raises $875,000 in venture funding

Ampy raises $875,000 in venture funding


Ampy has come a long way in the past year.
Back then, the startup was relying on Kickstarter to raise money to build its product, a portable device that uses kinetic energy to charge consumer electronics.

Now it has raised $875,000 in seed funding from the Chicago-based Clean Energy Trust and Palo Alto, Calif.-based NewGen Ventures, as well as angel investors Howard Tullman, Feedburner co-founder Steve Olechowski and John DiNardi, founder of Carol Stream-based LED lighting maker Norlux.

Ampy, which was launched by three Northwestern graduate students, raised about $300,000 on Kickstarter and brought in more than 2,500 pre-orders. The Evanston-based company has six employees.

"The funding allows us to do two things: scale production and pursue integrating our technology directly with some wearable devices manufacturers," said CEO Tejas Shastry. "Our vision is to be the platform charging technology for wearable devices."

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