Alabama Futures Fund Invests in Con.doit

Tuesday, 20. April 2021 16:58

BIRMINGHAM, Ala., April 20, 2021 (GLOBE NEWSWIRE) -- Alabama Futures Fund, LP (“AFF”) recently placed an investment in Arges, Inc. dba Con.doit (“Con.doit”). Con.doit is a Birmingham based company that recently graduated from the inaugural Techstars Alabama Energy Tech Accelerator cohort. Con.doit has created a unique software application to map, monitor performance and predict potential failures within commercial building electrical systems.

The investment in Con.doit represents the eleventh investment made by AFF since AFF was launched in Q4 of 2018. Redhawk Advisory, LLC (“Redhawk”) serves as the investment manager of AFF and advised AFF on the Con.doit investment.

Con.doit’s software components create a new comprehensive electrical system platform Con.doit calls an Electrical System Record (“ESR”). The ESR consolidates all data around electrical equipment records, system efficiency, safety and reliability. Through the Con.doit ESR information dashboard, all of this information can be accessed digitally.

Con.doit’s ESR is comprised of a Collection Module, IOT (Internet of Things) Module, a Failure Prediction System, an Efficiency Modeling Module, and a System Analysis and Dashboard. While all of these components are designed to work together, Con.doit’s offering can be broken down into two main offerings, electrical system mapping and monitoring.

Condoit was built for electrical engineering firms, commercial property owners and commercial property managers. Additionally, Con.doit works with third party design, insurance and maintenance plug-ins to enhance the depth of information and integration of the ESR.

Con.doit was founded by CEO Ian Hoppe and CTO Jim Crapia. Ian is a former commercial and industrial electrical contractor and engineering designer with over 11-years of experience in the field and a lifetime of knowledge of electrical system configuration, having grown up surrounded by electricians and engineers. Jim has 29-years of experience as a software engineer/architect. Jim has participated in and/or led software projects for AFRES, Raytheon E&C, Toyota Motor Sales, Ascension Health, ADS Environmental, Ebsco Industries, and others.

"We are absolutely thrilled and humbled to be working with Alabama Futures Fund and can't wait to show the world the incredible platform we're building. Jim and I are both Birmingham natives and it feels so good to be backed and supported by institutions in our home state." said Hoppe. 

Matt Hottle, Partner at Redhawk said, “The team at Con.doit represents exactly what we look for in early-stage companies. They are ambitious, smart and extremely receptive to feedback. We think their go-to-market strategy demonstrates Ian and Jim’s deep understanding of this space and how to position Con.doit for success.”

About Alabama Futures Fund, LP

AFF seeks to make seed and early-stage investments in Alabama-based operating companies and companies that are willing to relocate their headquarters and principal business operations to Alabama. AFF will target portfolio investments that demonstrate high growth potential, are led by coachable and adaptable founding teams and are focused on large total addressable markets. Additional information about AFF can be found at www.alabamafuturesfund.com.

About Redhawk Advisory, LLC

Redhawk Advisory, LLC is a registered Investment Advisor with offices in Birmingham. Founded in 2018 by Matt Hottle and Mickey Millsap, Redhawk focuses on identifying investments in early-stage startups with high growth potential across a broad range of industries. For more information, please visit www.RedhawkVC.com.

Contact: Matt Hottle                        
Telephone: 205-530-3722
E-mail: matt@redhawkadvisory.com 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/86f783b6-7510-4638-b529-5161ab9aae73


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Con.doit Leadership

Con.doit Leadership Jim Crapia, Chief Technology Officer and Ian Hoppe, Chief Executive Officer
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