The First Launch Capital Fund – a financing fund meant to help grow promising startup companies in a 12-county area in central North Carolina, announced this week that it had made its sixth such investment in Beam Dynamics, LLC.
Beam Dynamics is a startup that offers a cloud-based “product intelligence platform” meant to help movie, TV and media productions stay on the air, on time and on budget.
The company helps production studios and networks reduce downtime and “lower the total cost of ownership of production equipment through intelligent and actionable data.”
Company leaders say movie or TV shoots involve a great deal of complex equipment and human interaction – which requires a very well-thought-out workflow and the ability to quickly repair malfunctioning equipment. Bean Dynamics, in Winston-Salem, has won awards for innovation in finding solutions to those types of problems.
First Launch Capital Fund is a “pre-seed/seed-stage venture” capital fund based in Greensboro. It got its start in 2018 and it invests in entrepreneurs and companies at the very beginning of their development – a time when it’s often hard for them to get funding, and also a time when even a limited amount of new financing can make a big difference in a company’s success.
The fund focuses on capital appreciation, economic development and job creation in the 12-county area.
A Thursday, Oct. 21 press release announcing the investment didn’t state the amount of funding that would be provided to the company.
Beam Dynamics was co-founded in December 2020 by David Kaszycki, who’s now the CEO.
“We are excited to have the financial and advisory support from First Launch Capital Fund as we set to redefine the media and entertainment industry with our Product Intelligence Platform,” Kaszycki stated in the press release. “The funding will allow us to grow our team in North Carolina and launch new feature sets to address different market verticals.”
Not many companies do what Beam Dynamics does, and one estimate of the problem of downtime on television put the cost to the media and entertainment industry at about $6 billion for downtime each year.
Beam Dynamics Co-founder and COO Ryan DeMars stated that he’s pleased First Launch’s investment will allow the company to hire new workers and add functionality.
