For Immediate Release -- Thursday, August 7
Phenotype Screening Signs $500,000 Angel Investment Deal – Funding to Accelerate Development and Sales
SEYMOUR, TN – Phenotype Screening Corp., a company that develops and markets imaging technology to analyze root structures of plants today announced that the company has signed a $500,000 Angel Investment deal with the principals of Left Hand Ventures of Knoxville, TN. Phenotype Screening will use the funds to boost market entry of the RootViz FS plant root visualization system.
“Now, we are in a position to aggressively move our unique and award winning technology into the marketplace,” said company CEO and President, Dan McDonald.
“We are fortunate to be located in the Tennessee Innovation Valley”, explains McDonald. “We have been helped by many local organizations dedicated to the success of new start-up enterprises. This includes the University of Tennessee’s Center for Industrial Services and the Knoxville Area Chamber Partnership. The crown jewel of local support for technology based start-ups, however, is the Center for Entrepreneurial Growth. The quality of their advice and guidance is exceptional and was a key element in the execution of this deal. In fact, it was through the CEG and the Tennessee Valley Venture Forum that we met the principals from Left Hand Ventures.”
“We’re excited about the opportunity,” said Left Hand Ventures CFO and newly appointed Phenotype board member Mike Mitchell. “As a leader in plant research instrumentation, Phenotype is well positioned to take advantage of the multi-billion dollar plant based economy. Every day we hear of world-wide food shortages due to increased demand and lower harvests. Phenotype’s RootViz FS technology is unique and offers scientists, for the first time, insights into root system development under various environmental conditions. Root system understanding is considered the next great frontier in plant yield improvement.”
About Phenotype Screening Corporation
Phenotype Screening Corporation develops instruments and systems which enable improved plant and crop properties. With a goal of healthier crops and greater yields, the company is focused on next generation plant varieties, seeds and bio-based products. Their instruments are used by commercial and university plant breeders and plant scientists. In July of 2007, R&D Magazine named Phenotype’s ROOTVIS FS device one of the 100 most technologically significant products introduced over the previous year. www.phenotypescreening.com
About Left Hand Ventures
Left Hand Ventures, LLC, a boutique consulting and venture capital firm headquartered in Knoxville, Tennessee.
About the Centers for Entrepreneurial Growth
The Centers for Entrepreneurial Growth support technology startup companies and are sponsored programs of Technology 2020 in Oak Ridge, TN. Sponsors include UT-Battelle and the University of Tennessee Research Foundation. www.tech2020.org
For Additional
Information Contact:
Dan McDonald
Phenotype Screening Corporation
mcdonalddw@phenotypescreening.com
865.385.8641
Mike Mitchell
Left Hand Ventures
mm@lefthandventures.com
865.330.9899
Shawn Carson
Centers for Entrepreneurial Growth
Technology 2020
carson@tech2020.org
865.220.2020