Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) is investing nearly $400,000 in seven early-stage tech companies and three established manufacturers in its latest funding round.
The following investments were made in the form of loans,
ChannelApe of Jessup, a provider of a software platform for e-commerce storeowners, will receive a $35,000 loan to revise its business plan, create corporate documentation and refine its product.
Scranton's JUJAMA, Inc. earned $100,000 to continue the development and commercialization of a suite of customizable, fully supported technologies for meetings and conferences that make events more productive.
MindBridge Innovations, LLC of Allentown will receive $35,000 to finalize a new sales strategy, revise financial models and complete software development for its interface between at-home patients and physicians and therapists for the company’s therapy system, providing range-of-motion, strength and gait rehabilitation to patients after total hip and knee replacement and other lower extremity surgeries.
OPTiMO Information Technology, LLC in Bloomsburg earned $35,000 to expand its Legal Technology Division.
Orbweaver Sourcing, LLC, based at Ben Franklin TechVentures in Bethlehem, will receive $30,000 to complete development of a real-time supplier pricing infrastructure as a module in a cloud-based software solution for electronic circuit board manufacturers.
Precision POS, LLC of Jessup will get a $70,000 loan to support marketing and sales efforts for the company’s tablet point-of-sale and online ordering technology, designed for the restaurant industry and related food and beverage businesses.
Also based at TechVentures, TSG Software has earned $25,000 to significantly increase marketing and sales lead generation in commercializing software for business cleaning services, property and facility managers, and building management contractors.
Three established manufacturers were approved for one-to-one matching funding for work with a college or university partner on technology-based innovation. All are partnering with Lehigh University’s Enterprise Systems Center.
Bayard Printing Group in Plymouth received $15,600 to optimize the manufacturing process between operator and machine, and identify a solution to consolidate accounting systems at this digital, web and sheet-fed offset printing and fulfillment company.
Bethlehem-based Jesse James & Co., Inc., designer and manufacturer of bead and button embellishments for craft stores, mega-stores and online distribution, earned $25,000 to reduce manufacturing and fulfillment costs, and improve speed, productivity and quality.
A leading supplier of light control products for individual and corporate customers, Lutron Electronics Company, Inc. in Coopersburg will receive $25,000 to complete design and implementation of an improved, streamlined service scheduling system.
In other news, BFTP/NEP reports that that 1,189 northeastern Pennsylvania jobs were created or retained as a result of its work in 2014, leading to a cumulative total of 39,558 job creations or retentions since the program’s inception in 1983.
Source: BFTP/NEP
Writer: Elise Vider