TEDCO’s Seed Fund invests $800K in Maryland Start-ups

Four technology and life sciences companies among those invested

COLUMBIA, Md. (July 20, 2020)TEDCO, Maryland’s economic engine for technology companies, announced today its Seed Fund invested $800K in four (4) technology and life sciences start-ups based in Maryland.

“We believe these companies are in a critical area of known need, setting them on a path to build strong businesses here in Maryland,” stated Frank Glover, lead director, TEDCO Seed Fund and director, Maryland Venture Fund.

The following companies were invested in:

Ardent Privacy, based in Baltimore County, is a data privacy solutions company. Ardent empowers enterprises to efficiently comply with data privacy regulations such as CCPA (California Consumer Privacy Act), GDPR (General data protection regulation of EU) and FISMA (Federal Information Security Management Act) while reducing the enterprise risk. Ardent’s AI powered data privacy platform provides high-speed data minimization solution to discover, identify, inventory, map, minimize and securely delete personal data.

ClearMask, LLC, based in Baltimore City, is a medical supply company focusing on improving patient-provider communication and making healthcare more human. Its newly FDA-cleared fully transparent surgical mask is aimed at reducing medical errors and increasing patient satisfaction by improving visual communication for all.

Udynamix’s (dba iKeyVault), based in Montgomery County, offers a patented, user authentication technology that secures consumer data from the most frequent hacks. The technology creates a user-defined solution where dynamic passcodes are unpredictable and do not depend on second-factor verification for added security. Udynamix’s products include a B2B authentication service for enterprise applications and a B2C data vault for end-users.

Ovalz, based in Prince George’s County, offers a proprietary digital inventory service that speeds counts and lowers errors so small businesses know what to have, how much to have and when to have it.

“The Seed Fund is always focused on identifying companies like these to help them grow to their greatest potential,” said Linda Singh, TEDCO’s interim CEO and executive director. “Team TEDCO is ready to support its portfolio companies on the path for economic development success in Maryland.”

For information on how to access TEDCO investment applications for Maryland tech start-ups, please visit https://www.tedcomd.com/funding.

About TEDCO

TEDCO enhances economic development growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology companies in Maryland.

Media Contact
Tammi Thomas, Vice President, Marketing & Communications, TEDCO

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