Friday, February 18, 2011

Pixability draws $1M from nine angel investment groups

By Michelle Lang

Digital video startup Pixability Inc. has raised just over $1 million in an angel round of funding led by Launchpad Venture Group, CEO Bettina Hein said.

The financing, which Hein said is possibly the “most widely syndicated round in New England ever,” has investors from 10 angel groups involved, including Launchpad, Race Point Capital LLC, Maine Angels, eCoast Angel Network, Angel Investor Forum CT, Beacon Angels, Walnut Venture Associates, North Country Angels and Boston Harbor Angels.

Goeran Grosskopf, chairman of IKEA and an investor at Hein’s previous company SVOX AG, contributed the largest single investment in Pixability’s latest round.

Pixability’s board members and observers also include lead director Michael Mark of Walnut Venture Associates; Launchpad’s Barry Coffman, who joined the board with this round; Jean Hammond of Launchpad, JPH Associates, Golden Seeds and Hub Angels; and Janet Muto of High Start Group and former Constant Contact VP of marketing.

Launchpad and Race Point merged their high-tech angel investment groups in December, forming what may be the largest angel group in New England. The new group operates under the Launchpad name for now.

Also in December, Hein told Mass High Tech about some of the challenges of seeking investments of more personal investments – those from friends and family.

Hein, named a 2011 MHT Woman to Watch, founded Pixability in 2008. The company aims to undercut prices of professional video production companies by having companies record their own video, with Pixability then uploading and producing the marketing videos.