Technology firm to work with Texas based accelerator

TAMPA —NewChip, an Austin, Texas-based accelerator with a global reach, has accepted Vendita Corp. into its funding accelerator program.

A Vendita spokesman did not return an email seeking information on how much the Tampa company was hoping to raise or what the money would go toward.

But Vendita founder and CEO Doug Sullinger says in a statement the software technology company is “confident that (NewChip) will help us put together a productive raise and get us in touch with the right investors for our organization.”

NewChip says on its website it has worked with over 1,000 companies in 32 countries and has helped raise more than $300 million in funding.

According to the website, NewChip has three plans: a bootcamp and pre-accelerator program that helps companies raise up to $50,000; a pre-seed accelerator that helps raise between $250,000 and $1 million; and a seed and series A accelerator that helps companies raise between $1 million and $10 million.  

In the statement Vendita did say that once the company “completes their seed funding round, they will continue to work with NewChip on a raise for their Series A capital raise and beyond.”

The company, working with Oracle and IBM, offers database automation services to public and private companies. Sullinger founded Vendita in 2008. It moved from Toledo, Ohio to Tampa in 2017.