The New York tech scene has been flush with news of emerging incubators recently, so it’s no surprise that one lucky winner has scored a few mil to help get their projects off the ground.
K2 Labs, “a new model for early stage investing,” differentiates itself from the herd by focusing on and healthily funding just a handful of fledgling companies at once. Instead of throwing a ton of new ideas against the wall and seeing which ones stick, K2 funnels its resources into the few startups it believes in, nurturing them until they blossom into mature companies with Ivy League IPOs.
They’re the helicopter parents of incubators, if you will.
It’s been an interesting path for Tracks, a mobile photo sharing app that hopes to connect users around what it calls the “experience graph”. “We came out at TechCrunch disrupt in May,” says founder Vic Singh. “But then we relaunched in September and found some real traction. That let us put together a seed round and it feels great to go into the new year with some momentum and capital,”
Today the company announced a $1 million seed round from General Catalyst, TMT Investments, Eniac Ventures (where Mr. Singh is a general partner), AppFund, BHV Ventures, Harbor Road Ventures, Atventure.us, and a handful of angels investors including Photobucket founder Alex Welch, who will be joining the company’s board. “It’s a big validation to us that Alex is so interested in the company, given his history in photos.”
“Things move so fast in the mobile space these days,” says Vic Singh, founder of the mobile photo sharing app, Tracks. “I’ve spent more time as a venture capitalist investing in the space, than I have as an entrepreneur. But the truth is if you’re not building something yourself, and seeing what works on Read More