Capital Angels, an investment group that is part of the South Carolina Angel Network (SCAN), and The Palmetto Angel Fund, a joint venture of Capital Angels and the other angel groups under the SCAN umbrella, have invested in PharmRight, a South Carolina-based company.
PharmRight is the developer and manufacturer of LiviTM, a cloud-connected, automated medication dispenser that can be used in homes in instititional care facilities.
"LiviTM is a product with nationwide scope and interest, but we are excited to have secured more funding from local investors to facilitate our commercial launch," PharmRight CEO Bill Park said. “SCAN's diligence process was rigorous, so we are pleased to have convinced their investors to support our company.”
Charlie Banks, managing director of Capital Angels and SCAN, said the investment is exciting.
"(PharmRight is) a great team, and South Carolina is fortunate to have them building a company in our state,” Banks said.
SCAN groups also recently invested in Greenville-based startup TipHive, a cloud platform for enhancing knowledge sharing and communication within enterprises.
SCAN currently boasts a network of more than 200 angel investors. To date, the organization has invested $15 million in 52 companies, creating more than 400 jobs and attracting more than $200 million in additional capital.
For more information, visit www.scangelnetwork.com.