ZINO Society Members Invest over $400,000 in ZZIF Fund Finalists

SEATTLE, Nov. 10, 2010 /PRNewswire/ -- Two start-up companies have received over $400,000 in funding to date after being selected as fund finalists in ZINO Society's ZINO Zillionaire Investment Forum on September 15, 2010.

Following extensive due diligence by ZZIF 2010 Fund Investors, the ZINO Angel Investment Fund 2010 LLC awarded $50,000 each to Banshee Bungee and NanoIce, Inc. from among a field of 20 presenting ZINOpreneur companies.

"Over the years, we have seen being selected as a ZINO Zillionaire Fund Finalist is similar to getting a special seal of approval that encourages other investors who are in the room to invest," stated, Cathi Hatch, ZINO Society CEO. "Once the finalist announcement was made, their current investment rounds were quickly over-subscribed."

Beyond the ZZIF Fund, both Banshee Bungee and NanoIce received additional funding from individual investors. All 20 presenting companies are eligible for angel funding by individual ZINO Society member accredited investors. Fund investors are currently organizing an additional shared investment fund for one of the other six finalists.

Kevin Veon, Banshee Bungee CEO explained, "Being awarded the ZZIF investment fund was hugely beneficial in creating the momentum we needed to close this round and get our team focused back on building the business. Since presenting to ZINO, we have brought in an additional $300K and we will be able to close the round this week."

• Banshee Bungee produces and distributes patented BoardBungees that launch snowboarders, skateboarders and surfers over 30 MPH, expanding how these sports can be played. www.bansheebungee.com
• NanoIce, Inc. produces the world's smallest ice product that preserves food products by maintaining optimal product temperature and preventing bacteria growth. www.nanoiceusa.com

The six finalists were selected from 20 entrepreneurs representing technology, life science, consumer products and other business sectors.  Fund investors completed due diligence on all six finalists before announcing the fund recipients.

About ZINO Society

ZINO Society is a membership network that connects accredited investors with entrepreneurs seeking funding and connects people for business and social interaction, enrichment, education and commerce. Since its inception five years ago, ZINO Society has facilitated angel funding in excess of $15.5 million for early-stage and expansion businesses. Membership information and ZINO program details can be found at zinosociety.com.

SOURCE ZINO Society

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