COLUMBIA, Md. (July 26, 2017) – The Maryland Technology Development Corporation (TEDCO) announced today that ten companies including Machfu 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 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.
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.