BROOMFIELD, CO and WASHINGTON, DC, October 26, 2021 — Vita Inclinata (Vita), developer and producer of helicopter and crane load stabilization and precision hardware, today announced a partnership with Endeavour, a financial services platform supporting U.S. Federal Government contractors. Through the partnership, Endeavour will provide Vita with a working capital facility used to help fuel the company's operational and growth objectives.
Endeavour is providing non-dilutive financing of approximately $10M in available capital for contract capture and expansion purposes. The facility is backed by Vita's Federal and Commercial accounts receivable and Federal Contract Awards. Endeavour is recognized by the U.S. Department of Defense as a Trusted Capital Provider of non-dilutive finance to companies in the U.S. National Security and Space Industries.
“As a Department of Defense Trusted Capital Provider, we specialize in allocating unique financial services, and given Vita’s incredible growth and inroads into the U.S. Federal Government—we are well-aligned,” said Chris Lay, CEO of Endeavour. “Vita wants to expand and can now easily do so by leveraging our working capital facility while avoiding taking any further equity dilution of its shareholder base.”
Vita’s partnership with Endeavour also allows the company to prepare for known costs and not react in a way that would limit financial flexibility while allowing them to leverage contract assets to expand operations.
“We believe our relationship with Endeavour will help us to expand our operations and move quickly within a dynamic supply chain environment,” said Caleb Carr, president and CEO, Vita. “This agreement will ultimately help us bring a life-saving product to market more quickly, making our customers’ operations safer.”
Endeavour is a financial services platform supporting US Federal Government contractors. As an official Department of Defense Trusted Capital Provider, Endeavour offers cash funding for unpaid invoices up to $10,000,000, and can help companies improve their working capital position in order to finance growth strategies and manage operating expenses.
Additionally, Endeavour contributes 50% of net profits to Mission Oriented causes that support Veterans, their families, and their communities. Learn more about ENDEAVOUR at www.endeavourar.com.
About Vita Inclinata
A friend’s death during a rescue operation—with a helicopter close but unable to stabilize due to weather and terrain—was the genesis of Vita Inclinata. Founded in 2015 as a way to solve a real problem, Vita today controls chaotic swinging and spin and adds safety and precision for rotor-wing and fixed-wing aircraft and cranes. With the mission of “Bring them home, every time,” Vita’s technology changes the narrative while saving lives, time, and money across industries, including search and rescue, military, firefighting, public safety, construction, wind energy, and oil and gas. The company is headquartered in Broomfield, Colorado, with offices in Washington, DC, and Huntsville, Alabama. For more information, please visit www.vitatech.co.
# # #