SAN JUAN – Startup capital nonprofit Aurora Angel Network announced that after considering several applicants it selected Zomio Inc., a security company that develops smart technology, as its first firm to invest in, providing it $210,000.
Aurora, which was created in January to match angel investors with emerging companies, ultimately intends to invest in four companies a year.
Managing Director Liana O’Drobinak, who herself has experience building a business, had previously spoken to Caribbean Business about her experience collaborating with the island’s startup ecosystem through Parallel 18 and Grupo Guayacán, both of which run business accelerator programs and co-invest in those with potential.
However, she sought to help improve the investment infrastructure for startups.
“Aurora was created to address the gap between the growing number of innovative startups and young companies in Puerto Rico and investors who are interested in advancing and accelerating the entrepreneurial movement,” O’Drobinak said in the announcing release.
Zomio was created in 2018 with the goal of developing new technology to help protect homes and vehicles. Its first product, ARK, is a sensor that detects drastic environmental changes within a car that can be harmful or fatal.
The startup was one of the winners of EnterPRize 2018, Grupo Guayacán’s annual business competition, during which it also won the Innovation Award from Ferraiuoli LLC.
“Ever since I walked through Guayacán’s doors, I felt like I was at home. Through EnterPRize, we received world-class mentorship and education with experts in relevant fields. Today we’re happy to share that, thanks to this preparation, we’ve received an important investment from the Aurora Angel Network that will allow us to bring our product to market and save lives, while also demonstrating the entrepreneurial talent that Puerto Rico has on a global scale,” said Zomio’s CEO and co-founder, Ishmael Lebron.
The Aurora network of investors comprises executives and entrepreneurs looking to spur the growth of innovative and scalable startups to create “a new generation” of Puerto Rican companies. They support entrepreneurs not only with seed capital, but also with access to a broad network of professionals and mentorship support.
“We are very proud and excited about this first achievement with a company as innovative as Zomio, Inc. We’re confident that this is the first of many companies that Aurora will help take to the next level,” O’Drobinak said.
Aurora evaluates companies that are ready for investment on a quarterly basis. For additional information, contact email@example.com.