TEDCO Invests $1.6 Million in 16 Maryland Startups
COLUMBIA, Md. (September 16, 2015) – The Maryland Technology Development Corporation (TEDCO) announced today that 16 companies have received a total of $1.6 million in funding from the organization’s Technology Commercialization Fund (TCF). The funding will be used to advance the companies’ technology and product commercialization efforts. Funds were awarded to startups representing a wide-range of industries including medicine and disease treatment, health care, software and mobile app development. Admit Advantage, Inc.; Appian Medical, Inc.; Artichoke, LLC; Avhana, LLC; Cobrain Company; Cureveda, LLC; Grip Boost, LLC; Kinglet, Inc.; PeerAspect, LLC; Roadmap; Quantified Care, LLC; ShapeU, LLC; Sickweather, Inc.; Sparks Dynamics, LLC; Theraly Pharmaceuticals, Inc. and Vixiar Medical, Inc. were each awarded $100,000.
“TCF is one of our core funding programs supporting early-stage technology companies in Maryland,” said Rob Rosenbaum, president and executive director of TEDCO. “Each of these sixteen companies has tremendous potential to leverage these funds to attract support from future investors, which is vital to ensuring their continued growth.”
Earlier in May, Governor Larry Hogan announced enhanced funding opportunities for technology startups companies through TEDCO’s TCF by providing up to $225,000 and eliminating certain eligibility requirements to support projects that advance a technology toward commercialization in Maryland. Applications for TCF funding program are accepted monthly,
Since the TCF’s inception, 242 awards have been made. With an investment of almost $17 million these companies have gone on to receive more than $748 million in downstream funding from angel and venture investors, federal awards and other resources.
Companies that have been awarded TCF funding in the last ten months include:
- Admit.me, located in Silver Spring, is a tools-based admissions social network designed to assist applicants with the college planning and admissions process at no cost to the applicant.
- Appian Medical, Inc., located in Severna Park, created SnoreSounds that utilizes clinically proven algorithms to detect Obstructive Sleep Apnea through the analysis of sleep breathing sounds recorded with a smartphone.
- Artichoke, LLC,, located in Baltimore, launched a mobile app that helps freelancers get organized, booked, and paid. The app streamlines scheduling, payments, client, notes, notifications, and reporting so that freelancers can earn more and worry less.>
- Avhana, LLC, located in Baltimore, created a cloud-based decision support platform that integrates actionable patient-specific clinical content directly into the physician’s workflow.
- Cobrain Company, located in Bethesda, is building the first cross-merchant personalization engine, a personalization ecosystem based on the pooled data of the largest US merchants including Macy’s and Nordstrom.
- Cureveda, LLC, located in Baltimore, has identified novel small molecule Nrf2 activators which are currently at the preclinical stage of development and have the potential to slow or reverse disease in various conditions including Chronic Obstructive Pulmonary Disease (COPD), Idiopathic Pulmonary Fibrosis (IPF), Systemic Sclerosis and Multiple Sclerosis.
- Grip Boost, LLC, located in Halethorpe, has invented a quick-drying polymer-gel that can restore grip and extend the life of old football gloves.
- Kinglet, Inc. located in Baltimore, is the leading online marketplace for office space, connecting companies with amazing spaces. With hundreds of options, Kinglet allows companies to filter down to the perfect space that fits their needs.
- PeerAspect, LLC, located in Baltimore, created Sheets, software that allows organizations to easily collect, manage, validate and share all kinds of data.
- Quantified Care, LLC, located in Baltimore, leverages mobile platforms and mobile medical technologies, paired with the right clinical expertise, to eliminate gaps in patient care.
- Roadmap, located in Baltimore, is a SaaS-based resource forecasting and project intelligence platform and application. The company makes it easy for enterprises to overcome the massive inefficiency associated with using 3-4 different (specialized) SaaS tools across every project workflow.
- ShapeU, LLC, located in Baltimore, is a web platform that matches users into small groups to work out with personal trainers for a fraction of the price.
- Sickweather., located in Baltimore, is the Doppler radar for sickness. Their patent-pending process distills reports of illness from social media for use in public health prediction and real-time mobile alerts, so parents, business travelers and healthcare professionals can stay one step ahead of the spread of illness.
- Sparks Dynamicslocated in Baltimore, provides a suite of services to the industrial customer that enhances business profitability through intelligent systems that monitor energy, security, and equipment status allowing for increased efficiencies, uptime and business continuity.
- Theraly Pharmaceuticals, Inc., located in Elkridge, is a pharmaceutical company with a goal to efficiently generate medically important, stable, and long-acting therapies. Theraly designs innovative biologic therapeutics using a breakthrough in half-life extension technology.
- Vixiar Medical, Inc.., located in Annapolis, develops unique technologies for the non-invasive monitoring of cardiopulmonary diseases; particularly those that can impact hospital readmissions. The first product technology, for the non-invasive monitoring of congestive heart failure (CHF) patients, a hand-held device that has been approved by clinical engineering at Johns Hopkins University, is currently in IRB approved human clinical evaluations.
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 more than a decade, the organization has provided funding, mentoring and networking opportunities to support Maryland’s innovation ecosystem. While founded by the Maryland General Assembly, TEDCO is an independent entity that makes seed/early-stage investments and manages private capital for angel and venture capital funds. 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 on TEDCO and its programs and resources, visit www.TEDCO.md .