PLYMOUTH, Minn., March 2, 2011 /PRNewswire/ -- Twin Cities Angels, LLC (TCA) announced today the recent closing of investments in Once Innovations, Inc. (ONCE), a Plymouth, MN based LED technology development company. Since 2006, the TCA has provided members with opportunities to obtain outstanding financial returns by investing in early-stage technology companies.
"We are very pleased to secure funding from the Twin Cities Angels," said Zdenko Grajcar, CEO of ONCE. "It's a testament to our innovative technologies and a recognition that we're poised for rapid growth in our efforts to expand licensing of our technologies to the general illumination market as well as to increase our direct sales of products to agricultural markets."
ONCE has emerged as a leading manufacturer of LED lighting designed specifically for the poultry market. Its line of AgriShift® LED poultry lights are much more energy efficient and longer lasting than traditional lighting used in the poultry industry. Additionally, the light output from AgriShift® lamps mimics the spectral sensitivity of poultry and is fully dimmable with color shifting technologies. These features help enhance flock performance that can lead to more profits for producers.
Mr. Grajcar further indicated that the relationship with the TCA would be an advantage in expanding market penetration and an aid in ongoing research and development.
About Once Innovations: Once Innovations (ONCE) is a privately held LED technology development company that makes part of its IP portfolio accessible to companies under licensing agreements while manufacturing highly differentiated LED lighting using a visionary approach to research and product development – from design through final production and distribution. ONCE was founded in 2008 by current CEO, Zdenko Grajcar, who is considered to be a pioneering rebel in LED technology for his remarkably unconventional thinking and relentless challenge to the industry status quo. The ONCE technology research, marketing, and product development campus is located in Plymouth, MN United States of America.
About Twin Cities Angels: Twin Cities Angels II, LLC (TCA-II) is a formal organization for entrepreneurially minded member angel-investors. TCA members have a mutual interest in having a high degree of personal involvement and interaction in angel investing. All members are accredited investors with significant industry or functional expertise to contribute to the group. TCA-II is principally but not exclusively interested in relatively early stage companies where the organization's members can participate and support the formative stages of a successful business. Based on their individual and collective expertise, TCA-II members are also committed to the organization's mission of mentoring new companies by sharing their successful work experience and proven business judgment. TCA-II's investment and market focus is based on the members' professional expertise, including but not limited to medical technology, information technology, retail, energy, and services.
TCA seeks deal flow in the greater Twin Cities Area of Minneapolis/St. Paul, throughout the state of Minnesota and within a reasonable distance of the Twin Cities in Wisconsin, Iowa, and the Dakotas. The membership-led organization convenes regularly to meet with pre-screened companies regarding potential investments.
More information about the Twin Cities Angels is available at www.TCAngels.com
SOURCE Once Innovations, Inc.