Colorado software startup Elihuu raises USD30,000 from students turned venture capitalists
Colorado-based online platform startup Elihuu bagged USD30,000 from Deming Center Venture Fund (DCVF). The fund is comprised of graduate students from the University of Colorado Boulder (CU-Boulder). This was according to a report published by Newsday.
According to Elihuu founder and Chief Executive Officer Dorian Ferlauto, the raised capital will be spent on the development and expansion of the firm's product. Ferlaunto said the Elihuu tool is similar to a matchmaking website. However, Ferlauto said the tool is crafted for designers and manufacturers lining up to look for the right business partners. Elihuu's slogan read, "Meet your manufacturer."
CU-Boulder's DCVF is directed by students turned venture capitalists. The fund is part of a program started by the Leeds School of Business. The fund was launched in 1997 by a donor, the report stated. One of the goals of the DCVF is to gather enough returns to put a profit percentage back into the CU-Boulder campus. Aside from maintaining the fund, DCVF aims to assist programs of the university, Newsday reported.