Milo wags tail for cash

One-year old startup Milo is closing in on a $1.1 million seed round, with the help of Youniversity Ventures, according to a regulatory filing.

Youniversity—which mentors students and first-time entrepreneurs and connects them with funding sources—is the group formed by YouTube co-founder Jawed Karim, Eventbrite co-founder Kevin Hartz and Keith Rabois, head of business development at Slide.

Milo is currently in alpha mode, and allows users to search local stores for such items as video cameras, DVDs and other electronics. It’s led by founder Jack Abraham, a graduate of Wharton University, who recently relocated the company from Philadelphia to Palo Alto, Calif.

According to the regulatory filing, so far has secured $640,000. Its official corporate name is mBuy Inc. —Constance Loizos