Redstar Ventures, a Cambridge-based “venture foundry” announced on Wednesday that the early-stage venture capital fund Avalon Ventures has led an investment in LoopIt, an operating company from Redstar Ventures. The investment is the first external seed funding for LoopIt and will be used for research and development of its “conversation engine,” which is designed to help consumers tap friends across their social networks for advice when shopping online. Redstar said LoopIt is just one of the operating companies it will formally announce in 2013.
LoopIt raises initial funding
Wednesday, January 16, 2013