Wisconsin River Business Angels of Central Wisconsin closes deal with Pyran, LLC
On April 24, the Wisconsin River Business Angels (WRBA) of Central Wisconsin closed a deal with Pyran, LLC of Madison WI, providing a portion of their seed round financing. Pyran has developed a patented process for creating a key intermediate chemical building block, widely used in every day products like paints and plastics, from a renewable source that can be manufactured for half the cost of petroleum-based chemicals. The WRBA is the lead investor and will have a seat on the Pyran Board of Directors representing the seed investors. Pyran has qualified for the SBIR Phase 1 funding and for the QNBV 25% WI tax credit. Pyran continues to fill out the seed round in the next few months to expand supply through toll manufacturing. This will support scale-up to begin supplying this $B global opportunity.
Market studies are currently underway to define end use requirements and identify candidates for customers’ application development.
Wisconsin River Business Angels is an angel group managed by Midwest Wealth Ventures, LLC. For more information on this investment or the WRBA, contact Jeff Ebel at MWVLLC.com