Edmonton company secures first round of funding from the Accelerate Fund

Experience and acumen of leadership team helps draws investors
By: Accelerate Fund
 
EDMONTON, Alberta - Aug. 18, 2015 - PRLog -- The Accelerate Fund (http://www.acceleratefund.ca/) is pleased to announce the closing of a funding round in Levven Electronics (http://www.levven.com/), an electronic design and manufacturing company making products for homes and commercial spaces around the world. This deal represents the Accelerate Fund’s tenth investment since inception. The Accelerate Fund is an early-stage, angel co-investment fund managed by AVAC Ltd (http://www.avacltd.com/).

Levven designs and manufactures audio and control products that automate and enhance today’s way of life with unprecedented wireless reliability. This round of funding will help Levven expand their footprint in the residential and light commercial markets and give them a platform to introduce future GoControl™ simple home automation controls and sensors.

“What made this deal attractive to us is the experience and accomplishments of the senior leadership team,” says Warren Bergen, General Partner & Director of the Accelerate Fund. “When you add that to the obvious innovation value of their product line, we are confident that Levven has good potential to substantially impact their industry. We are excited to help the company grow to the next level of sales and profits.”

Levven’s senior management team includes James Keirstead, the driving force behind evolving Blue Falls Manufacturing into Arctic Spas, one of Canada’s fastest growing and most successful companies. The team also includes Marv Verlage from Martech, a nationally recognized leader in providing outsourced sales services for manufacturers who make products for the commercial and residential construction industry.

“The team at AVAC was incredibly helpful in walking us through the investor pitch and due diligence process, which ultimately lead to securing the funding we needed to grow. I am excited to have them as a partner,”said Keirstead, President of Levven.

The first two products in Levven’s “Go” line are the GoRave™ and the GoConex™. The GoRave™ is a wireless audio transmitter and receiver that makes it easy to play big audio with smartphones, tablets, televisions, and computers in all of the rooms of a house. Their GoConex™ switches are an ultra-reliable power control product that eliminates wire and switch boxes from all electrical installations. GoConex, essentially, is a “switch without wires” and can replace traditional wired switching. Contractors and home builders using GoConex switches conserve hundreds of pounds of copper, steel and plastic in every home.

To learn more about Levven Electronics and their suite of products, please visit www.Levven.com. To learn more about the Accelerate Fund, please visit www.AccelerateFund.ca.

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Media Inquiries

Accelerate Fund/AVAC Ltd.
Meghan Somers
The Agency
587.899.0615
meghan at theagencyinc dot ca

Nathan Smith
Levven Electronics
780.391.3000
nsmith at levven dot com

About Levven Electronics
Levven’s mission is to create “responsive spaces for the everyday guy” by designing and manufacturing elegantly simple products that automate and enhance today’s way of life. Levven products deliver unprecedented wireless product reliability. To achieve this goal, Levven has created the “Go” family of electronic and automation products. GoRave®, the first “Go” product, unlocks big audio for consumers, home builders, contractors and commercial owners. GoConex™ allows electricians and building owners to switch electricity on and off without the need for wires. www.Levven.com

About The Accelerate Fund:
The Accelerate Fund is an angel co-investment fund, managed by AVAC Ltd., which invests in promising Alberta technology companies. Investments are consistent with common venture capital investing practices, utilizing an array of equity and debt instruments. AVAC Ltd. performs due diligence, makes investment decisions, and provides ongoing support to portfolio companies on behalf of the Fund. In support of the funded companies, the Accelerate Fund Industry Committee, an advisory network managed by the A100, was designed to provide additional “hands-on” resources to the portfolio companies. Alberta Enterprise Corporation is the Accelerate Fund’s Limited Partner.
www.acceleratefund.ca  |  www.avacltd.com

Contact
Meghan Somers
***@theagencyinc.ca
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Source:Accelerate Fund
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Tags:Smart Home, Levven Electronics, Accelerate Fund
Industry:Technology
Location:Edmonton - Alberta - Canada
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