FTL Global Solutions in Austin raises capital to help third-world residents

Jun 24, 2014
Austin Business Journal

FTL Global Solutions Inc. announced that it has raised the first phase of a $1 million-plus Series C round of funding

The Austin-based company, which develops mobile systems that can bring electricity, lights and water purification systems to remote areas, plans to complete the funding round during the third quarter, according to a company news release

The funding increases to $6 million the amount of investment capital FTL Global has collected since launching. It will be used to expand existing sales and distribution channels in India, Africa and other emerging markets, the release indicates

Investors included The Josh Mailman Foundation, London-based Terra Firma Capital Group and a United Arab Emirates-based family office

FTL Global Solutions, which was founded in 2006, employs 10 workers. Its CEO is Tony Saxton, previously the CEO of predecessor company FTL Solar LLC, an Austin-based developer of flexible photovoltaic fabric. The company was a spinoff of New York-based FTL Design Engineering

In late 2010, FTL Solar reported raising a $2.5 Series B round of funding from a mix of angel investors and institutional investors based in Dubai, United Arab Emirates

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