Newly formed Dallas Venture Capital invests in growth stage companies in Texas
Millions of dollars in venture capital are changing hands in Texas this week.
Dallas Venture Capital invested $ 1 million in Austin-based Rollick Inc. in an $ 8.5 million funding round that included Sandbox Insurtech Ventures, TechNexus Venture Collaborative, Capital Factory and others. .
Gaiety is a digital platform and marketing service for RV, boat and other recreational vehicle sellers.
“Rollick is poised to become a disruptor in the booming and rapidly growing VR industry as its cloud-native SaaS-based relationship management platform ushers in a contactless VR shopping experience for customers. consumers, as more and more people seek to continue safe outdoor activities in the event of a pandemic. like road, boating and sailing, ”Dayakar Puskoor, founder and managing partner of DVC, said in a statement.
This is the second investment since Indo-American venture capitalists Puskoor and former Wipro CEO Abidali Neemuchwala launched the firm in September, in the hope of expanding the Texas-India business relationship. His first investment was in an insurance technology company PLNAR, also based in Austin.
Dallas Venture Capital said it invested in Rollick because the company’s management has a proven track record in the automotive business. CEO Bernie Brenner was a co-founder of automotive pricing marketplace TrueCar, which went public in 2014.
According to Crunchbase. The amount of money invested in growing companies – like Dallas Venture Capital’s recent investment goals – also set a record.
Vine-based Automobile capital also attracted an investment of $ 8.8 million this week. The company provides car dealers with a web-based platform, called the Dealer Electronic Auto Loan System, which allows dealers to approve 100% auto loans regardless of the customer’s credit history.
The funding round was led by FM Capital and included the participation of approximately 50 investors.
“The company has the technology to make auto financing accessible to all consumers, and dealers will benefit by increasing their monthly unit sales,” Chase Fraser, managing partner of FM Capital, said in a statement.
The money will be used to expand into other states and grow Car Capital’s auto dealer network. The company is licensed to operate in Texas, Florida, Georgia, Indiana, Ohio, Oklahoma and Tennessee.