AIM Group joined with Fidelis Capital and Bonaventure Capital to complete an $8.9mm equity purchase in Deep Fiber Solutions out of Atlanta, GA. Leading the round with $6.4mm, this represents AIM Group’s largest investment to date. “We were immediately blown away by the technology. Having been involved in constructing some of the early fiber optic networks in the 1980’s, I fully appreciated the elegant solution that the Deep Fiber team created to enable old coaxial networks to be upgraded to fiber optic networks without all of the hassles of trenching and boring,” says Jim Corman, Managing Partner of AIM Group. The funding will allow Deep Fiber Solutions to continue their impressive growth in delivering innovative solutions to the cable industry.
About Deep Fiber Solutions
Deep Fiber Solutions is an Atlanta based cable engineering and construction company that has patented technology that allows the company to eject the core of a coaxial cable and install a fiber optic cable into the conduit created by the core’s removal. This solution comes at a substantially lower cost than traditional boring and trenching and is completed in a fraction of the time. “This transaction will provide Deep Fiber Solutions with the expansion capital necessary to address the market demand for our unique core ejection/fiber optic installation service. Additionally, we are excited to have AIM Group, Fidelis and Bonaventure Fund as partners moving forward,” says Mark Davis, the CEO of Deep Fiber Solutions.
To round out our 2016 investments, we were excited to find an Alabama-based company with huge potential, Chrono.
Chrono is a Huntsville, Alabama based company that has developed a unique digital distribution platform to market computer games. Chrono markets one game at a time for 24 hours at the lowest price that the game has ever been offered. After 24 hours, a new game is offered for sale. Consumers are initially connected to the website by influencers (gaming professionals) who recommend the game to their followers. Chrono has successfully marketed over 200 games since launching the platform in March of 2016.
Over eight meetings in seven cities, Chrono raised over $800K with AIM Group. While this company is outside of AIM’s normal target portfolio company, we have huge confidence in the management team’s potential and the position this company has in the gaming market.
In November 2016, we added a new company to our portfolio, Bioscape.
Bioscape is an Atlanta based company that provides a tablet based platform installed in hospital rooms for use by the patient. Features includes real time patient feedback to the hospital, games, food ordering, promotion of future heath care services that the patient may need, instructional videos specific to the patient’s specific condition and several others. Content is customized for each hospital and within each hospital, customized for each department. Launched in 2014, Bioscape is currently installed in over 45 hospitals.
Over eight meetings in seven cities, Bioscape raised $500K with AIM Group. We are already encouraged by the progress made by Bioscape since funding last year.
Our August 2016 presenting company was KIYATEC out of Greenville, South Carolina.
KIYATEC is ushering in a new world of cancer drug response profiling that use living cells grown and tested in a more relevant 3D tumor microenvironment. They are dedicated to changing how the pharmaceutical industry and clinicians evaluate, test and deliver innovative cancer therapeutics.
Over eight meetings in seven cities, KIYATEC raised almost $700K with AIM Group. While we see this investment as one of the more risky in our portfolio, we believe the upside will be huge.
Our June 2016 presenting company was Axial Exchange out of Raleigh, North Carolina.
Axial Exchange is a software company that provides a suite of services designed to help hospitals manage and coordinate patient care once the patient leaves the hospital (Post Acute Care Coordination). Recent mandates by Medicare and other insurance providers have recently started requiring that hospitals and similar organizations provide this post acute care coordination in a significant number of cases and will accelerate the requirement over the next few years.
Over eight meetings in six cities, Axial raised over $600K with AIM Group. We are excited for the future of this company and the continued investment and participation as they grow.