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TEDCO announces funding for five startups

Five companies have received funding through the Maryland Technology Development Corporation’s (TEDCO) Seed Investment funds.

The five companies — Visbyl Inc., SecuLore Solutions LLC, GrekTek LLC, Beacon Tech Inc. and Network Alarm Corporation — received a total of $500,000 through the fund, TEDCO announced Thursday.

“TEDCO’s Seed Investments exist to support Maryland companies in their effort to develop and commercialize new technology-based products,” said John Wasilisin, president of TEDCO.

He noted that the seed companies generally have fewer than 20 employees and are less than five years old. 

“TEDCO’s investment truly makes a difference in helping them advance their technologies further along the commercialization pathway, which can increase the company’s valuation and lead to follow-on investment, sustainability and job creation.”

TEDCO has invested $22 million in more than 400 companies since 1998.

These are the companies TEDCO announced investments for Thursday:

  • Visibyl Inc.: This Germantown company creates beacons for inventory that include GPS location and can monitor temperature.
  • SecureLore Solutions LLC: The Odenton-based company focuses on cybersecurity for 911 operations.
  • GrekTek LLC: Located in Potomac, GrekTek focuses on medical wearables. They are currently developing HalthyWatch, focusing on improving cardiac health.
  • Beacon Tech, Inc.: A Baltimore-based company, Beacon Tech is developing a platform for text-based psychotherapy.
  • Network Alarm Corporation: The Silver Spring Company provides intrusion detection for small businesses by providing round-the-clock cyber security protection.

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