In addition to last week's slate of funded companies, Ben Franklin Technology Partners of Northeastern Pennsylvania's (BFTP/NEP) has announced the following investments, provided to clients in the form of loans.
Cerora Inc., Ben Franklin TechVentures, Bethlehem
Ben Franklin Investment: $150,000
This investment will go towards the development and commercialization of the company's first product, Cerora Qumpass, a cloud-based software as a service medical-grade neurodiagnostic solution. The company's MindReader is a portable electroencephalogram (EEG) brain wave biosensor that measures the electrical activity of the brain. It combines cutting-edge advancements in EEG design with cognitive and voice-based data streams, all integrated with software to provide real-time, objective neurodiagnostic information in the field. The rapid diagnosis of brain disease and injuries can lead to early and effective intervention with resulting cost savings, improved clinical outcomes and increased patient satisfaction. There are currently no affordable, portable and accurate neuro-diagnostics available to physicians, nurses, first responders and trainers for use in real time.
Map Decisions, LLC, Ben Franklin TechVentures, Bethlehem
Ben Franklin Investment: $100,000
This loan will help provide sales, marketing, product development and customer service support. Map Decisions produces infrastructure asset and work management software, and provides field mapping and data management services. The company's secure, cloud-based mobile platform is designed for state and local governments, utilities, oil and gas, transportation, and construction industries. Map Decisions helps organizations increase operational efficiency, improve customer service, reduce compliance risks and decrease operational costs.
Orbweaver Sourcing, LLC, Ben Franklin TechVentures, Bethlehem
Ben Franklin Investment: $25,000
Orbweaver aims to complete development of a bill-of-material authoring tool as a module in a cloud-based software solution for electronic circuit board manufacturers. Current sourcing and procurement models in the electronics manufacturing industry are highly inefficient. Orbweaver's software platform will allow for more well-negotiated terms with suppliers, thereby reducing costs and increasing productivity for clients.
Pivitec, LLC, Ben Franklin TechVentures, Bethlehem
Ben Franklin Investment: $21,100
This developer of audio streaming and distribution products will continue commercialization and enhancement of hardware and software products. Live performances in theaters and houses of worship require a variety of approaches to provide performers the ability to hear their own performances as well as cues. Wired systems currently in use require extensive cabling, limiting performers' movements, and have limited audio source reception. Pivitec uses wireless mobile devices as interactive controllers for its network devices to address these problems.
PROVA Systems and Technologies, Inc., Carbondale
Ben Franklin Investment: $40,000
This infusion will support the commercialization of PROVA Systems' Fleet Genius® PRO, a fleet management software system for small- and medium-sized enterprises. The software integrates PROVA's plug-and-play fleet management monitor that links with its cloud-based SAAS application to collect, monitor and analyze the performance of vehicles and drivers. PROVA's system enables proactive management of vehicles using data derived from their usage patterns and collected from on-board computers. Fleet Genius PRO can reduce fleet operations costs by more than 60 percent versus current technology, and, in many instances, pays for itself in less than a year.
Skaffl, LLC, Allentown
Ben Franklin Investment: $25,000
This company will complete the development of Skaffl, a new mobile application through which teachers and students can exchange class materials, assignments, completed homework and grades. This digital application addresses the growing use of tablets in K-12 classrooms and the needs of teachers as they develop tools and curricula to enhance real-time educational interaction. There are no other applications that address these needs comprehensively while also being simple to use for students, teachers and administrators.
Susquehanna Mining Solutions, Shavertown
Ben Franklin Investment: $150,000
SMS will design, construct and begin operation of a four-million-gallon-per-day pilot facility for the recovery of minerals and clean-up of water from acid mine drainage. The company's process produces clean water and harvests iron oxide, while utilizing accessible geothermal energy as the power source for material processing operations. Once completed, the patented technology will be commercialized for large-scale use.
XiGo Nanotools, Ben Franklin TechVentures, Bethlehem
Ben Franklin Investment: $50,000
Thanks to this funding, this manufacturer of patented products that rapidly measure the wetted surface area of nanoparticles and droplets using magnetic resonance technology aims to complete software enhancements, allowing expanded sales. Nano-particles are minute; they typically have diameters that are 1/1,000th the diameter of a human hair. Nanoparticle properties are key predictors of material performance in many industrial applications, including energy, electronics, ceramics and pharmaceuticals, and currently there are no other efficient measurement methods. XiGo's new Acorn Drop is a product extension of the company's initial product, the Acorn Area, and measures the drop size of emulsions.
Ben Franklin also announces the following established manufacturer investments. Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers.
Cambridge-Lee Industries LLC, Reading
College Partner: Northampton Community College's Emerging Technologies Applications Center
Ben Franklin Investment: $22,350
Cambridge-Lee will conduct controlled testing to optimize their manufacturing process for copper tubing, helping the company enter new markets and capitalize on market growth. Copper tubing is used in plumbing, refrigeration and other commercial applications. The process improvement will increase throughput and reduce energy costs.
gt;Georg Fischer Harvel, LLC, Easton
University Partner: Lehigh University's Enterprise Systems Center
Ben Franklin Investment: $10,000
This company aims to complete a sustainability analysis to reduce energy consumption by 20 percent or more. GFH is an international leader in thermoplastic extrusion, primarily manufacturing PVC and CPVC piping for a diverse set of customers. Energy costs are a top manufacturing expense, so cost savings in this area will yield a significant competitive advantage.