SharkDreams Raises $1M

8/22/18

By Hannah Lang, NC Biz News

A Raleigh, North Carolina-based company has sold $1 million in shares in a private stock offering, according to a Securities and Exchange Commission filing.

SharkDreams Inc. filed the Form D on Aug. 17. The company did not disclose what it intended to do with the proceeds, raised from seven different investors.

SharkDreams aims to improve health care through the use of digital technology, according to the company’s website. One of the company’s products, LIVIT, uses an app to connect healthcare providers and patients.

The app reminds patients to take medications, allows providers to see dosage and prescription data, and enables live chatting between doctors and patients.

The company, founded in 2017, previously raised $1 million in a private equity and options offering in November.

The company’s founder is Dharma Teja Nukarapu, a Wichita State University computer science graduate who previously worked as a software engineer at Lenovo from 2011 to the end of 2016.

Nukarapu holds five patents from his work at Lenovo.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must file what’s known as a Form D electronically with the SEC after they first sell their securities.

The form can be found here.

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