Cybersecurity company Arpio is one of the six startups to receive funding from NC IDEA, a private foundation supporting North Carolinian companies.
The investor has distributed a total of $300,000 in seed grants to six startups through its NC IDEA SEED programme, which has backed a total of 154 companies since it was launched in 2006.
Companies for the grant were selected after a three-month competitive application process which judged 142 businesses across North Carolina.
Each company was given $50,000 as well as mentorship and guidance from the company.
Home Lending Platform was one of the companies to receive a grant. The startup has built an AI-powered mortgage advisor which simulates buying a home with multiple lenders to find the best option and how it would impact the customer.
Another company to receive funding was Arpio, a startup helping to companies to protect their environments from system outages and ransomware.
The other companies to receive funds were architecture solution Natrx, digital vehicle servicing solution Shyft Auto, log management platform Electronic Lab Logs and clothing company Unbox the Dress.
NC IDEA CEO and President Thom Ruhe said, “This group of companies demonstrates the vibrancy and resiliency of entrepreneurship across the state of North Carolina.
“We had an incredibly strong group of finalists participating in a grant cycle that concluded virtually for the first time ever. And despite these challenging times, we are confident that our recipients are well on the path to creating a lasting impact in their local communities while strengthening the state’s economy.”
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