iDAvatars raising $1.3 million fund for acquisition

Transaction expected to close in early June

iDAvatars' Sophie avatar, which boasts such human characteristics as compassion, intelligence and humor.

Mequon-based startup Intelligent Digital Avatars Inc. is raising a $1.3 million fund to finance the acquisition of another avatar company.

iDAvatars' Sophie avatar, which boasts such human characteristics as compassion, intelligence and humor.
iDAvatars’ Sophie avatar, which boasts such human characteristics as compassion, intelligence and humor.

The specifics of the acquisition will be under wraps until early June, said Norrie Daroga, founder and chief executive officer at iDAvatars.

iDAvatars, founded in 2013, in March 2015 released its digital avatar “Sophie,” which is used by health care companies to observe, perform assessments and record interactions in personal health records. The company specializes in giving its avatars human characteristics such as compassion, intelligence and humor that make the interactions more natural.

The company has 10 employees. In February, it formed a partnership with Silicon Valley biometric sensor developer Swaive Corp. to use Sophie in its intelligent ear thermometer for remote patient monitoring.

According to a May 18 SEC filing, iDAvatars has so far raised $140,000 of the $1.3 million fund, for which the minimum investment is $5,000.

iDAvatars previously raised $1 million of a $2.5 million fund in November.

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Molly Dill, former BizTimes Milwaukee managing editor.

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