Xemex Static Mixer, a Madison, WI-based startup that’s developing a nozzle for mixing two-part adhesives, raised $250,000 in equity financing from a single investor, according to a federal securities filing. Potential users of the disposable device, which contains no moving parts, include groups in the construction industry and manufacturers that sell to medical and dental care providers, said Eric Ronning, co-founder and CEO of Xemex.
The company plans to use some of the proceeds of the funding round, which could top out at $500,000, for research and development purposes and as general working capital. Xemex has not yet started bringing in revenue, according to the filing. Read the full story here.