Press Releases

July 2017

Innovative Maryland Startups Receive TEDCO Investment

COLUMBIA, Md. (July 26, 2017) – The Maryland Technology Development Corporation (TEDCO) announced today that ten companies received a total of $1,000,000 in funding through its Seed Investment Funds.

“TEDCO’s Seed Investments fuel Maryland companies in their effort to develop and commercialize new technology-based products,” stated TEDCO CEO George Davis.  “Our seed investment companies are less than five years old and generally have fewer than 20 employees.  Consequently, TEDCO’s investment really makes a difference in helping them to become winners and propelling them to greater things, such as follow-on investment, job creation, and sustainability.”

The ten companies, who were vetted by the Seed Investment Review Committee comprised of independent industry experts, investors, and C-Suite executives, in addition to select members of the TEDCO team, are:

  • PerCredo Technology Solutions, located in National Harbor, Cyber Guidance System (CGS) is the first holistic solution giving CIOs/CISOs the ability to visualize and manage people, processes, and technologies in order to execute proactive cyber security strategy.
  • Aperio Health, Inc., located in Baltimore, creates software for innovative community healthcare providers, serving patients in mental health, primary care, and human services, which will soon become the nation’s primary source of care.  Built on a modern technology stack, Aperio’s all-in-one health intelligence platform will support providers long into the future, as the industry adapts to population health management and at-risk, value-based reimbursement.
  • Machfu, Inc., located in Germantown, scalably and securely connects legacy and emerging industrial assets (controllers and sensors) to the Industrial Internet-of-Things.
  • Vista Research Group, Inc, located in Annapolis, is revolutionizing the behavioral healthcare industry by providing the data that addiction and mental health treatment programs need to improve their results and profitability.
  • Blue Sources, LLC, located in Frederick, produces an aquatic biomonitor device that uses bluegills (freshwater fish) to detect toxic chemicals in source waters and drinking water.
  • Javazen, located in College Park, makes coffee without the crash, creating a new category of healthy brews that make you feel and perform better. By blending premium coffee with other nutrient-rich and functional ingredients, Javazen offers a daily ritual that brings sustained energy without jitters or crash. Javazen is now offered in a patent-pending, eco-friendly, compostable and single-serve ‘tea bag’ called a Brew Bag.
  • TeamedOn International, Inc, located in Gaithersburg, is developing novel therapeutics to combat leukemia, and has produced encouraging pre-clinical data.  The company has exclusive, world-wide rights to a class of novel small molecules targeting Acute Myeloid Leukemia, as well as an experienced leadership team with expertise in this field.
  • Atomic Mole, LLC, located in Rockville, is an elastic security platform for the Internet of Things (IoT).  A next generation security and risk analytics solution, the Atomic Mole platform provides enterprises of all sizes with breakthrough real-time monitoring capabilities for IoT devices and systems.  Designed to seamlessly scale from a single device up to millions of devices autonomously, the Atomic Mole platform allows individual organizations, managed security providers, and cloud providers to affordably monitor both wired and wireless IoT infrastructures.
  • SecondWrite, LLC, located in College Park, has a next-generation sandbox that detects advanced malware including APTs, targeted attacks and zero-day evasions that defeat other solutions. Its university-developed patent pending technology identifies hidden paths in malware and forcibly executes them, achieving complete code coverage. In addition, it can detect sophisticated anti-analysis malware that cannot be detected by other solutions, using deep program introspection.
  • Arbit, Inc., located in Forest Hill, is a unique social network that connects users with their favorite athletes, celebrities, brands, friends and more through image and video polling.

“Blue Sources signed an exclusive patent license agreement with the U.S. Army in the summer of 2015,” stated PJ Bellomo, Blue Sources Executive Chairman. “With the help of TEDCO’s seed investment, the company inked an engineering and manufacturing deal in Q2 2017 and it expects to bring a production-ready offering to market by Q4.”

Applicants for the Seed Investment Funds should use TEDCO’s online submission system, at http://tedco.md/program/seed-funding-program, to complete a simple form and attach a short executive summary to initiate the process.  If the business seems to meet TEDCO’s investment criteria, the applicant will be contacted to set-up an initial meeting with members of TEDCO’s Deal Team to discuss the details of the business. For more information on investment terms and application process, please contact McKeever Conwell at mconwell@tedco.md or 410-715-4180.

 

The Maryland Technology Development Corporation (TEDCO) is the go-to source for entrepreneurial support and guidance for start-ups and early-stage companies engaged in bringing innovative ideas to market. For over nineteen years, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. It is frequently ranked as one of the most active seed/early-stage investors in the nation. The organization plays a key role in bringing research created in Maryland’s educational institutions and federal laboratories into the commercial marketplace. For more information about TEDCO and its programs and resources, visit www.TEDCO.md.

 

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