Investors award startup Ryde and DEMO $140,000 in equity-backed funding while Quantum Energy wins $1,300 for the Audience Choice Award at the AngelCon 2023 event.
June 1, 2023 (San Luis Obispo, CA) – The Cal Poly Center for Innovation and Entrepreneurship (CIE) Small Business Development Center (SBDC) is proud to announce the results of its 6th annual AngelCon pitch competition on June 1, 2023. The fund raised a total of $140,000 and chose to invest in two startups. Ryde was awarded $100,000 in equity investment as the winner of AngelCon 2023. The runner up, DEMO, also received an investment totaling $40,000.
AngelCon is a culminating event that brings together Central California tech-based startups who receive training and mentorship through the SBDC and dedicated angel investors who participate in the evaluation, due diligence, and selection process of AngelCon applicants leading up to the live event. Participating startups are seeking equity investment to help grow their businesses.
Ryde and DEMO competed among six startups to an audience of 21 investors and nearly 300 hybrid attendees. Cal Poly Alumna Emily Gavrilenko, CEO of Ryde, and her team have created a peer-to-peer travel marketplace connecting student drivers with riders for long-distance travel. DEMO Studios, led by CEO Alec Stallman, is developing a platform where creators can sell collaboration rights to their content, earning money in the process.
Also at AngelCon, Quantum Energy, Inc., creators of a comprehensive AI-driven software tool providing data for the cleantech industry, won the Audience Choice Award and received $1300 in prize money from the crowdfunding campaign.
“This year’s finalists were very software-focused,” remarked Judy Mahan, CIE Senior Economic Development Director. “The engineering brilliance and strength showcased by the founders presenting at AngelCon tonight speaks volumes to the high-tech and deep innovation that our business community is fostering here in Central California.”
AngelCon 2023 was presented by Pacific Premier Bank. A recording of the live-streamed event is now available at bit.ly/angelcon2023.
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