TEDCO Invests $1.9 Million in 19 Startups to Support Innovation in Maryland

COLUMBIA, Md. (December 15, 2016) – The Maryland Technology Development Corporation (TEDCO) announced today that 19 companies have received over $1.9 million in funding from the organization’s Seed Investment Fund in the last six months. The funding will be used to advance the companies’ technology and product commercialization efforts.

“TEDCO’s Seed Investment Fund exists to support seed/early-stage, technology-based businesses in Maryland,” said John Wasilisin, president and chief operating officer of TEDCO. “We make investments in these companies to help them reach a critical milestone that will increase the company’s valuation and better position it for follow-on investment, sustainability, growth, and job creation.”

Funds were invested in startups representing a wide range of industries including renewable energy, health care, software, and mobile app development. Companies that received investment funding in the last six months include:

  • Communication APPtitude™, located in Towson, produces iPad and web-based, visual vocabulary apps responding to the need for vocabulary instruction grades K-12.
  • Notice and Comment (N&C), Inc., located in Baltimore, offers solutions that make the government regulatory process more efficient, accessible, and transparent for all participants in the rulemaking process. Regendus, the company’s cognitive analytics SaaS offering – built on IBM’s cutting-edge Watson platform – accelerates regulatory strategic decision making.
  • Manta Biofuel, LLC, located in Baltimore, is engaged in the production of algae based, renewable crude oil that is cost competitive with traditional fossil based crude.
  • Subscribe Pro, Inc., located in Baltimore, enables eCommerce merchants to offer subscription-based ordering of physical consumer goods.
  • Fusiform, Inc., located in Baltimore, is developing software to enable digital fabrication as a viable solution for mass manufacturing across medical and consumer industries.
  • Otomagnetics, LLC, located in Rockville, is developing and commercializing a non-invasive technology to address the unmet need of delivering medications to unreachable targets in the human body.
  • SprintR, LLC, located in Baltimore, is a wireless footpad that lets you easily walk, run, and jump in VR hands free.
  • Lazy, located in Rockville, builds tools to simplify quality measure reporting for clinicians and clinical software vendors.
  • Proscia, Inc., located in Baltimore, is a cloud-delivered solutions provider for digital pathology.
  • ShipLync, located in Columbia, is a platform for the logistics and trade industry.
  • BurnAlong, Inc., located in Baltimore, allows you to workout online (via your computer, tablet, or phone) to a wide-range of classes offered by local trainers, gyms, studios, and celebrity instructors, on your own or live with friends you invite.
  • Fearless Solutions, LLC, located in Baltimore, is a developer of technology solutions for government and commercial markets and has extensive experience building cloud-based, smart, real-time geo-location and geo-alerting systems for the US government for use around the world.
  • Light Point Security, LLC, located in Baltimore, and founded by former NSA cybersecurity experts, is a pioneer and the leading provider of browser isolation solutions to protect enterprises and government agencies from web-based malware.
  • TeamPassword, Inc., located in Baltimore, allows collaborative product teams and agencies to share and manage access to the accounts they use to do their jobs.
  • Untethered Labs, Inc., located in College Park, develops wearable technology-based security solutions to prevent unauthorized access to confidential corporate data.
  • GamersOnline, Inc., located in Columbia, is a sophisticated content and data management platform that cost effectively allows small to medium-size gaming publishers to engage, amplify, analyze, and grow their market segment by distributing gaming content to their anytime, anywhere mobile users.
  • My Quintessential Virtual Office (MyQVO), located in Bowie, is a software tool that immediately gets students better engaged with in class learning and gives each child access to a large network of classmates for on demand help.
  • CourseArc, located in Baltimore, is a digital content creation tool which provides organizations with a marked advantage in the eLearning industry. CourseArc allows anyone to create beautiful, interactive, affordable and accessible online courses.
  • OcuFLOW, Inc. is located in Baltimore. OcuFLOW’s product is a 4th generation pulsatile ocular blood flow analyzer that could provide a solution to managing ocular blood flow, thus delaying the progression of the three most common blinding ocular conditions including aging macular degeneration, diabetic retinopathy and glaucoma.

Seed Investment Fund applicants should use TEDCO’s online submission system, at http://tedco.md/program/seed-funding-program/, to complete a simple application 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 fifteen 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 on TEDCO and its programs and resources, visit www.TEDCO.md.

Media Contact
Tammi L. Thomas

Leave a Reply