Capital hard to come by as investors nurse wounds - Business First of Columbus:

Capital hard to come by as investors nurse wounds - Business First of Columbus:

Alan Arman knows raising venture capital isn’t an easy thing to do. But raising money in the depth of a recession? Yeah, right.

The co-founder of Boxicom Inc., which operates as 3x Systems and makes a remote backup appliance for business data, Arman has been looking for money to build up his business for more than a year.

He founded the company in 2006 and based it at the TechColumbus incubator on Kinnear Road. The product just started rolling out last year and is fashioned after a black box found in an airplane after a crash. Arman’s black box holds critical data and is designed to survive natural and man-made disasters.

While product development, marketing and administrative tasks all need attention, Arman has found that the hunt for money is a consuming mission.

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