18-month old San Diego startup that is simplifying the process of finding and applying for Federal government grants, closes oversubscribed seed round
SAN DIEGO, March 16, 2021 (Newswire.com) – OmniSync, a company that helps deep tech and life science companies raise debt-free and equity-free funds from the government, closed their oversubscribed seed round led by Govtech Fund – the first-ever venture fund dedicated to government technology startups. The San Francisco-based investor’s mission is to harness transformers, technology, and capital to enable governments to become more efficient, more responsive, and better able to serve society. “We invest in founders who are obsessed with software that streamlines and modernizes government processes,” said Ron Bouganim, Managing Partner at Govtech Fund. “OmniSync is taking a unique approach to modernizing and unifying Federal grants in a way that is not only democratizing access to these funds for non-traditional applicants like startups, but they’re also making the process much more efficient for the governments themselves to quickly access and acquire new technologies from sources that they may be completely unaware of.“
“Finding the right source of government funding can be a cumbersome, expensive, and inefficient task,” said Denise Longley, partner at Longley Capital, also a San Diego-based venture firm that participated in the round. “Rupak and team have built a powerful solution that not only makes the application process more efficient and automated, but the solution increases the likelihood of success.” Other strategic VCs included General Inception that invests in and often co-creates new companies with emerging science and engineering pioneers from university research, national labs, FFRDCs, and industrial R&D centers around the world. “We are very well-acquainted with the problem OmniSync’s TurboSBIR platform solves. It’s a game changer for the innovation economy,” said Paul Conley of General Inception.
The round also included early-stage seed investors like Keshif Ventures, founded by Taner Halicioglu, the first real ’employee’ of Facebook outside its founders, and funds startups working to grow the San Diego data-science ecosystem, Fine Day Ventures (previous investments in Blade, Hyperloop One, etc.), Excel Ventures, and strategic angels like SBIR Advisors (former contracting officers from Federal agencies like DoD and NASA) and Richard Lin (founder of Explora BioLabs, and Chairman of the Board at LaunchBio), who said “As a long-standing member of the local biotech community, I know many of my colleagues heavily rely on SBIR grants to fund highly innovative, and thus risky, research that would otherwise not be funded by regular investors. These companies can really benefit from a much more streamlined platform enabled by TurboSBIR”.
OmniSync’s successful fundraise follows their consistent ~10% week-over-week customer growth, despite the pandemic. The company will utilize the funds to scale TurboSBIR and add new capabilities to make grants more inclusive and accessible to applicants nationwide. OmniSync is currently supported by the venture studio, Launch Factory, and premier accelerators, Capital Factory and EvoNexus. Learn more about TurboSBIR. Contact Rupak Doshi (firstname.lastname@example.org) for inquiries.
Source: OmniSync Incorporated