This is the second year that the San Diego Venture Group has arranged for a group of Silicon Valley venture capitalists to meet local companies. The 31 companies were selected from a list of 140 applicants because they were considered far enough along to receive initial or follow on rounds of investment.
“People complain about San Diego not being Silicon Valley, but I look at that a little differently,” said Mike Krenn, head of the San Diego Venture Group. “We are the closest tech city to that big pot of money and better positioned than any other city to the resources that are there. And we should leverage that.”
Krenn said last year’s event was successful not only in fund raising for the companies but also “in elevating the perception of our start-up community with these important investors.”
On June 7, 20 of the 31 Cool Companies will display their technology at Farmer & The Seahorse restaurant in Torrey Pines from 4 pm to 6:30 pm. The event is free to San Diego Venture Group members and $50 for non-members.
Among this year’s group is SkySafe, which has developed security technology that can take control of rogue drones. Founded by a team from MIT, the military and security research community, the company has raised $3 million in seed funding led by Andreessen Horowitz.
Co-Founder Grant Jordan, who worked with drones in the Air Force, said SkySafe’s radio frequency technology provides enforceable controls for the drone industry. It detects, identifies, tracks and takes control of drones when needed. The seven employee company is targeting airports, stadiums, prisons and critical infrastructure for use of its technology.