Venture Capital News: OOTU Closes $325K Seed Funding Round
2014-07-07
SAN FRANCISCO, CA, New semantic discovery company announced that it has closed a seed round of funding for $325,000.
OOTU, Inc., a new semantic discovery company, has announced that it has closed a seed round of funding for $325,000. The investment, which will help fuel the development of the company™s proprietary technology, was made by Michael Knapp, CEO and co-founder of OOTU; venture capitalists Robert Nelsen and Clinton Bybee; McKenna Ventures; and other investors.
'The new semantic discovery technology that we have developed can be applied in numerous applications, enabling users to find digital information and content they did not even know they were looking for,' said Knapp. 'Our first application will be released later this year, offering a completely new way for online users to discover and navigate online. Unlike search engines or recommendation engines that rely on an algorithm to determine what content is relevant to a user, OOTU™s technology allows the user to be the algorithm, choosing what aspect of specific content is compelling to them and providing the means for them to find similar, available content.'
OOTU, an acronym for Outline of the Universe, has been in development since 2012. Michael Knapp, Ph.D., is a scientist who has built multiple companies and most recently was CEO of Cambrios Technologies, a nanotechnology-based company in the electronics materials industry. Previously, he co-founded Caliper Life Sciences, Amphora Discovery and Molecular Tool. He holds a PhD from Stanford University in medical microbiology. Michael Huffman, co-founder and CTO of OOTU, previously served as CTO and partner with American Property Specialists and Omega Property Specialists.
About McKenna Ventures
McKenna Ventures, managed by Regis McKenna and Sean McKenna, works with early stage technology companies located in or near Silicon Valley. Its extensive experience in building technology-based companies allows it to work on behalf of the entrepreneurs to advance their business model, product and marketing plans, and financing strategy.
About OOTU
Founded in 2007, OOTU, Inc. (Outline of the Universe) is a new semantic discovery company. The technology™s first application will be launching later this year. OOTU™s technology is patent-pending. The company is based in the San Francisco Bay area.
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