The Maryland Technology Development Corporation (TEDCO) announced today that six companies, including Virtici spinout Rise Therapeutics, received a total of $800,000 in seed funding.
“At TEDCO, our mission is to foster entrepreneurship and innovation across all regions of the state and we aim to discover, invest in and build great companies that grow, stay and last in Maryland,” stated TEDCO CEO George Davis. “TEDCO helps entrepreneurs bring innovation to market by being the connective tissue to all available assets in the ecosystem, including capital and business development tools.”
“We are thrilled to have TEDCO as our seed investor and partner. This investment will support our effort to add the people we need to build a great team capable of executing on a great opportunity,” stated Workspace CEO Mark Wesker. “With our new software product, we are bringing order to the chaos so often associated with technology projects, where trillions are spent, and billions are lost each and every year. It is a privilege to have TEDCO as a partner on this journey."
TEDCO seed fund’s new portfolio companies are:
- Rise Therapeutics LLC, located in Rockville, focuses on developing microbiome-based immunological drugs using a unique and proprietary oral biologics delivery platform.
- Discourse Analytics, Inc., located in Bethesda, uses Artificial Intelligence, Machine Learning and prescriptive analytics to provide the most relevant and contextual interactions to drive individual action.
- Workspace Software, Inc., located in Hunt Valley, provides transformational project management software.
- xMD Diagnostics, located in Baltimore, develops high-throughput microdissection technology for diagnosis of cancer with increased resolution and speed.
- Linshom Management LLC, located in Ellicott City, develops a respiratory monitor capable of improving patient outcomes.
- Knowledge Diffusion Inc (DBA Osmosis), located in Baltimore, provides an operating system for health professional’s education. Reaching more than 500,000 current and future professionals, Osmosis offers a personalized learning platform and content library of educational videos on health topics.