Ben Franklin Technology Partners of Central and Northern PA recently approved investments totaling more than $2.5 million in 18 startups, including five in the State College area and another founded by a Penn State student.
Chartlytics, CondioTec, Persea Naturals, West Arete and Xact Metal are the local companies to receive funding. Reflexion, a startup co-founded by a Penn State student that has partnered with a Penn State research center, also was awarded an investment.
An initiative of the Pennsylvania Department of Community and Economic Development, Ben Franklin Technology Partners/CNP is an early-stage investor that provides funding, operational assistance and business support services for emerging tech-based companies and small, existing manufacturers with the goal of creating and retaining jobs.
The specific amounts awarded to each business in this round of investments were not made available.
The latest State College startups to receive investments:
Chartlytics has built a science-based, SaaS web platform that provides robust and scalable precision measurement and data visualization that targets the needs of the special education and autism markets.
ConidioTec, led by Penn State researchers, has developed non-toxic, fungal bio-pesticide product for the control and prevention of bed bug infestations.
Persea Naturals developed a novel, natural food color additive in the yellow-red spectrum with a high-color yield extracted from avocado seeds.
Reflexion Interactive Technologies, located in Lancaster, developed a portable system that enables the rapid screening of athletes to detect indications of possible traumatic brain injury. It was co-founded by Penn State student Matt Roda and the company has partnered with the Penn State Center for Sport Concussion Research to validate the system.
West Arete created “Contributary,” a software platform for community foundations to host “giving day” events. These one or two-day programs create excitement and momentum around charitable giving online. West Arete partnered with Centre Foundation earlier this year to create a customized platform for the foundation’s annual Centre Gives event in May.
Xact Metal has patent-pending technology that supports the next generation of innovative manufacturing solutions powered by metal 3D printing.
