StartUpNV, a nonprofit statewide incubator and accelerator for Nevada-based startup companies, has closed a $600,000 round of investment in Minden-based custom furniture manufacturer Semi Exact.StartUpNV coalesced numerous investment groups and individuals for this round, making it unprecedented for its broad scope of investors coming together for a single round of funding within Nevada.
“StartUpNV’s mission is to support Nevada-based startups and grow our state’s network of investors,” said Jeff Saling, executive director of StartUpNV.“Leading this investment round for Semi Exact benefits both the business and our state. While syndicated venture capital rounds like this are not new, the fact they are starting to happen more in Nevada is indicative of our growing ecosystem to support startups and diversify our economy.”
Saling added that the company will join StartUpNV’s accelerator that provides economic and business mentoring support through a 39-week program designed to increase sales and help support the company in raising their next round of venture capital in 2023.
“We are glad to welcome these prominent Nevada-based investors to our team as we continue to scale our business of making it easy for anyone to make their own furniture,” said Matt Jensen, Semi Exact Co-CEO. “We plan to use this investment to further enhance our capabilities in Minden where we bring new products from concept to prototype to market in less than 45 days, when it takes major furniture manufactures 6 to 9 months or longer.”
Semi Exact is creating a new category in the furniture market called “Ready to Make.” The company’s furniture components provide consumers with the base for DIY furniture projects ranging from floating shelves to coffee tables to sofas, outdoor furniture, beds and more. Semi Exact’s products include durable recycled steel bed kits, table legs and furniture bases, hairpin and floating steel shelf brackets, and other furniture essentials that can be used to create thousands and thousands of different projects. With a high-tech, lean, reconfigurable manufacturing facility in Minden, Nev., Semi Exact is leading the way for DIY furniture product design, prototyping, and scaling new products.
StartUpNV’s AngelNV program invests $50,000 to $200,000 in companies with $0 to $500,000 in annual sales, and its FundNV is a $1 million pre-seed fund for companies with $500,000 to $1 million in annual sales. Battle Born Growth Ventures, Nevada’s State Venture Capital Program under the auspices of the federal State Small Business Credit Initiative (SSBCI) and overseen by The Governor’s Office of Economic Development, makes equity investments in early stage, high-growth Nevadan enterprises.
For more information on Semi Exact, visit www.semiexact.com or email firstname.lastname@example.org.