A venture capital firm, NRV which is based in Richmond participated in a $6.6 million investment in ICX media which is a Washington-based technology and data analytics company.
The venture capital firm was founded as New Richmond Ventures in 2011. The purpose being, to invest in promising Richmond-area businesses, but it has since formally changed its name to NRV and expanded the scope of its investments beyond the region.
NRV from its early- stage growth made other investments in two Richmond- based companies Nutriati, non-allergic food ingredients maker and Health Warrior, a maker of chia seed-based energy snack bars and also in an Alexandria-based company, Territory, that delivers professionally prepared meals to its customers based on their dietary needs.
NRV did not reveal the amount of investment. The funding round was initiated by Washington-based venture capital company Grotech Ventures. Apart from NRV, other participants were Boston-based PJC and Avonlea Capital.
NRV Managing Director Scott Tolleson said “There is a skyrocketing number of firms out there creating internet video.”
What does ICX do?
It provides analytics and technology for those companies engaged in the fast-growing market of digital video content. Its artificial intelligence platform enables media and entertainment companies to collect data providing insights about the audience for online video content.