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News & Updates - Friday, March 31, 2006

Inventions Startup Hyperion Set To Close $2.75

Bellevue, WA –based Hyperion is “nearing completion of a $2.75M financing round” according to the Seattle PI, and will look for additional funding later this year to boost marketing efforts. It raised $3M from Acorn Ventures and others last year.

The 22-person consumer invention company has about eight ideas in various stages of development, including a battery-powered glue gun that was introduced this month and a heated seat cushion that Baker says is perfect for hunting, fishing or sporting events.

The company is also unveiling heated pet sleeping quarters which will cost more than $100. It is designed to keep small dogs and cats warm with a consistent temperature of 104 degrees. It runs on a battery pack or plugs into a car's cigarette lighter.

The company’s big hit was its Cold Heat soldering tool. It quickly heats up to 800 degrees Fahrenheit and then cools down in a matter of seconds. Cold Heat retails for $19.95 and is marketed through infomercials and at RadioShack and The Home Depot. It has sold more than 3.5 million units.

Read - The market is hot for Hyperion (Seattle PI)