TEDCO Invests $1.7 Million in 17 Maryland Startups
COLUMBIA, Md. March 23, 2016 - The Maryland Technology Development Corporation (TEDCO) announced today that 17 companies have received over $1.7 million in funding from the organization’s Technology Commercialization Fund (TCF) and Cyber Security Investment Fund (CIF)in the last six months. The funding will be used to advance the companies’ technology and product commercialization efforts.
“We have seen an increasing demand to our seed investment programs that support the early-stage technology companies in Maryland,” said John Wasilisin, president and chief operating officer of TEDCO. “As the quantity of funding applications went up, so did the quality of innovative companies we are seeing. Each of these seventeen companies has tremendous potential to attract future investors by leveraging our funding, which will help them to successfully grow and become a sustainable part of Maryland’s economy.”
Funds were awarded to startups representing a wide range of industries including medical devices, health care, software and mobile app development. Companies that have been awarded TCF and CIF funding in the last six months include:
- A1LOGIC, located in Bethesda, is an innovative cybersecurity that prevents Data Breaches with their cutting edge Endpoint Data Loss Prevention (DLP) technology.
- ANRA Technologies, located in Lexington Park, enables low cost flying C2 and real time sensor data dissemination to any device anywhere using latest encryption technology.
- Brinkbit, located in Baltimore, is a Cloud-based platform that lets game developers create, ship, and monetize games from a single interface.
- ClassTracks, located in Baltimore, builds technology solutions to help foreign language teachers spend less time drilling, so that they can spend more time teaching.
- Cobrain, located in Bethesda, is building a personalization ecosystem based on the pooled data of the largest US merchants including Macy’s and Nordstrom. The company is founded by Rob McGovern, who previously founded Careerbuilder.com.
- Cognitive Pro, located in Rockville, has a proprietary methodology (COGx) designed to remediate and/or enhance cognitive skills (brain function).
- emocha Mobile Health, located in Baltimore, provides a suite of mobile and web applications that secure patient engagement and support adherence.
- Full Society, located in Baltimore, is a mobile bill-pay solution for restaurants and bars allowing diners to pay their bill, split it, tip, and give back to society at the ease of their fingertips.
- MF Fire, located in College Park, provides clean and sustainable energy, transforming home heating with their first product, the Mulciber, the first ultra-clean wood stove which emits less smoke than a single cigarette.
- MockV Solutions, located in Rockville, is a biotechnology company developing bench top research kits to quantify viral clearance in industrial processes.
- Oh Mama, located in Baltimore, connects moms with one another at a local and national level, creating a community-driven resource for all.
- OnSystem Logic, located in Columbia, has developed a patent-pending Micro-Sandbox technology to stop memory attacks caused by programming errors.
- Sisu Global Health, located in Baltimore, develops medical devices for emerging markets. Their initial product, Hemafuse, recycles a person’s own blood from internal bleeding.
- Secure Mentem, located in Annapolis, provides security awareness services in a SaaS model that supports and streamlines the cybersecurity awareness service to their customers.
- Sparo Corporation, located in Potomac, leverages corporate social responsibility into higher sales for online merchants by marrying e-commerce and charity.
- Speak Agent, located in Baltimore, transforms the English and Spanish language classroom by delivering customized lessons that are interactive, audiovisual, and intelligent.
- Z Advanced Computing, located in Potomac, has developed some revolutionary algorithms for machine learning which requires much fewer training samples and makes the machine learning modularized.
Applications for TCF and CIF are accepted monthly. The full review cycle begins on the first day of the month and takes approximately 60 days. For more information on investment terms and application process, please visit www.tedco.md .
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 fifteen years, 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 .