Fundraising Fox

TEDCO

Government fund

Columbia · Pre-Seed–Series B · 74 people tracked

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Investment thesis

TEDCO is Maryland's leading source of funding for early-stage, technology-based businesses. Established by the Maryland General Assembly in 1998, it operates as an independent instrumentality of the State to facilitate business creation and support growth across all regions of Maryland. Beyond capital, TEDCO provides business assistance to entrepreneurs statewide and fosters technology transfer and commercialization from Maryland universities and Federal labs. Its mission emphasizes economic empowerment through an inclusive and entrepreneurial innovation ecosystem, aiming to be the recognized national leader in supporting translational research and technology-based economic development while serving as the hub of Maryland's innovation ecosystem.

Source: firm website, verified Aug 16, 2026.

Stage
Pre-Seed–Series B
HQ
Columbia, Maryland, US
Instruments
Equity
Founded
1998
Last 12 months
5 investments
Tracked investments
190

Team · 74 people

from the firm's website & public directories
Abi Kulshreshtha· Executive Director, Maryland Innovation Initiative (MII)
Andrew Serafini· TEDCO Board Member (Wealth Enhancement Group)
Ann K. Pulley· Controller
Ann Liebschutz· Federal Agency Engagement Contractor (Consultant)
Anudeep Koneru· Program Coordinator / Business Intelligence Analyst
April Davis-Hurtt· Lead BRIDGE Advisor
Avanti Shetye· Senior Director, Investment Operations & Compliance
Ben Antebi· Associate Director, Maryland Stem Cell Research Fund (MSCRF)
Benga Erinle· DefTech Advisor (Consultant)
Brittney Jackson· Marketing Communications Specialist
Cassy Haber· Director, Development & Marketing
Chung Hei Sing· TEDCO Board Member (Applied Derivative Research)
Claudius Taylor· Rural & Urban Business Innovation Initiative Mentor, Central Maryland (Consultant)
Cliff Coppersmith· TEDCO Board Member (Chesapeake College)
David Tohn· Chair - TEDCO Board (BTS Software Solutions)
DeJonna Farrar· Assistant Director, Digital Marketing & Communications
Denise Pina· Finance & Program Administration Lead
Diana Smith· Senior Administrative Services Manager/Executive Assistant
Ebahi Adubor· Finance & Operations Intern
Eben G. Smith· Assistant Treasurer - TEDCO Board (Three|E Consulting Group)
Elias Freas· Venture Fund Portfolio Management Intern
Elizabeth Good Mazhari· Investment & Ecosystem Engagement Officer
Fey Okupe· Assistant Attorney General
Geyssel Gonzalez· Chief Financial and Technology Officer
Graham Dodge· Vice President, Venture Development
Griffin St Louis· Senior Program Manager, Maryland Innovation Initiative
Harry Coker Jr.· TEDCO Board Member (MD Department of Commerce)
Jalaycia Lewis· Program Manager, Baltimore Innovation Initiative (BII)
Jason Harris· Sr. Investment Analyst
Javier “Javi” Mulé· BRIDGE Advisor
Jean-Luc Park· Deputy Chief Investment Officer & Sr. Director, Social Impact Funds
Jigita Patel· Interim General Counsel
Jim Andrews· APEX Accelerator Program Manager (Consultant)
Jim Galante· Assistant Attorney General
Julia Deng· Director, SBIR Programs
Justin Ferguson· Innovation Manager, Venture Development
Karen Zuccardi· Ecosystem Director, Venture Development
Katherine Hill Ritchie· Senior Director, Venture Funds
Kathie Callahan Brady· TEDCO Board Member (FITCI)
Katie Hardy· Assistant Director, Government Relations and Research
Kelly Benson· Mentor, Rural Business Innovation Initiative, Upper Shore
Kim Mozingo· Vice President, Federal Programs
Kory Bailey· TEDCO Board Member (Angel investor)
Linda Cureton· TEDCO Board Member (Muse Technologies, Inc.)
Mindy Lehman· Chief Government Program Development, Affairs & Policy Officer
Natalie Cofield· TEDCO Board Member (Association for Enterprise Opportunity)
Natalie Wisnoski· Coordinator, Government Relations & Executive Operations
Nona Minnifield Cheeks· Vice Chair - TEDCO Board (Innovatyr)
Omoré Okhomina· BRIDGE Advisor
Patrice King Brickman· TEDCO Board Member (Inspire Access)
Rachael Kalinyak· Associate Director, Marketing & Communications
Rajaniece Thompson· Assistant Director & Grant Manager
Ricardo A. Alvarado· TEDCO Board Member (Firebrand Venture Companies)
Ron Kaese· DefTech Advisor (Consultant)
Rondall Allen· TEDCO Board Member (University of Maryland Eastern Shore)
Ruchika Nijhara· Executive Director, Maryland Stem Cell Research Fund (MSCRF)
Ryan Frederic· TEDCO Board Member (Ten One Aerospace)
Sabrina Spinner· Assistant Manager, Maryland Stem Cell Research Fund (MSCRF)
Sephora Saint-Armand· Ecosystem & Equitech Manager
Silvia Goncalves· Assistant Manager, Maryland Innovation Initiative
Sofia Vegarra· Investment Team Senior Portfolio Manager
Stephanie M. Meighan· Assistant Attorney General
Stephen Auvil· Chief Federal Engagement Officer
Stephen Harrington· Director, Program Operations
Steven Most· Human Resources (Part Time)
Tami Yoloye· Investment Analyst
Tammi Thomas· President
Teddy Gresser· Senior Director, Seed Funds
Thomas Bundy III· Secretary - TEDCO Board (Lawrence & Bundy)
Valery Gutierrez· Administrative Coordinator, Maryland Innovation Initiative
William L. Bernard· Rural Business Innovation Initiative Mentor, Lower Shore Region (Consultant)
William Roberts· Treasurer - TEDCO Board (Significance, Inc.)

What they invest in

from 142 of 190 portfolio companies

Healthtech ×50AI & Machine Learning ×43Medical Devices ×42Biotech ×36Digital Health ×23SaaS ×22Enterprise Software ×21Deep Tech ×17

HQs:United States×93Israel×1

Investments · 190 tracked

founders shown can be your intro path

By year:2026 · 52023 · 22022 · 12021 · 42020 · 12019 · 12018 · 22017 · 12016 · 118 dated

Bullfrogaibullfrogai.cominNASDAQ: BFRGApr 2022

BullFrog AI applies artificial intelligence to drug development, aiming to support the life sciences and pharmaceutical industry.

AI & Machine LearningBiotechData & InfrastructureDigital HealthHealthtechGaithersburg, US

Vin Singh(CEO)Vininder Singh(Chief Executive Officer)Dane Saglia(Chief Financial Officer)

Cartesian Therapeutics (NASDAQ: RNAC)cartesiantherapeutics.comin𝕏NASDAQ: RNAC

Cartesian Therapeutics is a biotechnology company developing cell therapies, formed through the November 2023 merger with Selecta.

BiotechHealthtechWatertown, US

Metin Kurtoglu(Executive Officer)Chris Jewell(Executive Officer)Carsten Brunn(President, CEO & Chairman of the Board)Emily English(Executive Officer)Blaine Davis(Executive Officer)Stephen Smolinksi(Executive Officer)

Longeveronlongeveron.comin𝕏NASDAQ: LGVN

Longeveron is a clinical-stage biotechnology company developing regenerative cell therapies for patients with serious and aging-related conditions.

BiotechHealthtechLongevityMedical DevicesMiami, US

Joshua M. Hare(Executive Officer, Director)Paul Lehr(Executive Officer)Lisa A. Locklear(Executive Officer)Wa'el Hashad(Executive Officer, Director)Nataliya Agafonova(Executive Officer)James Clavijo(Executive Officer)

Xometryxometry.cominNASDAQ: XMTR

Xometry runs an AI-powered marketplace that connects enterprise buyers and small businesses to a global network of manufacturing suppliers for custom parts and on-demand production.

Advanced ManufacturingAI & Machine LearningB2B MarketplacesEnterprise SoftwareGaithersburg, US

Randolph Altschuler(Executive Officer, Director, Promoter)

BoardGeorge Hornig(Director)Laurence Zuriff(Executive Officer, Director, Promoter)John Deutch(Director)

Ion Storage Systemsionstoragesystems.com✓ verified

ION Storage Systems develops a patented 3D ceramic solid-state battery platform that removes the flammable liquid electrolyte and eliminates the need for external compression or cooling.

CleantechEnergyNew MaterialsColumbia, US

Jorge Diaz Schneider(CEO)Ravi Abbineni(Chief Financial Officer)

1104HealthMay 2026

Bethesda, US

Qun Rose Wang(Executive Officer, Director)

3Dnamics3dnamics.com

3Dnamics engineers 3D organoid models from human stem cells to develop therapeutics for neurological diseases including Alzheimer's and Parkinson's.

AI & Machine LearningBiotechMedical DevicesBaltimore, US

4rmrarmrsystems.comin

ARMR Systems develops a wearable vascular clamp system for rapid hemorrhage control in trauma situations where medical help is not immediately available.

Defense TechHealthtechMedical Devices

Abreakmusicabreakmusic.com𝕏

aBreak Music is a free music and artist discovery platform for independent artists.

B2B MarketplacesCreator EconomyMedia & Entertainment

Activechargeactivecharge.us
Adaptive Phage Therapeuticsaphage.comin𝕏

Aphage develops AI and sensor technologies to identify, track, and classify physical threats across borders, infrastructure, and transportation networks for government and security organizations.

AI & Machine LearningDefense TechGovTech

AGED Diagnosticsageddiagnostics.com
Aidaraidar.comin𝕏

Aidar Health develops health monitoring technology that provides real-time health insights and predictive analytics for individuals and their caregivers.

AI & Machine LearningDigital HealthHealthtechMedical Devices

Airgilityairgility.co
Alchemityalchemity.tech
Alirtifyalirtify.com
Aloetherapeuticsaloetherapeutics.org

Aloe Therapeutics develops AIM-001, a localized cell-based immunotherapy implanted at tumor sites during surgery to activate the immune system and improve response to checkpoint immunotherapy in patients with advanced solid tumors.

BiotechMedical Devices

Aqualithaqualith.net

AquaLith develops lithium-ion battery technology, including an ultra-high energy cathode, a silicon anode, and a non-flammable water-based electrolyte, based on patents licensed from the University of Maryland.

CleantechEnergyHardwareNew MaterialsCollege Park, US

Gregory Cooper(Founder & CEO)

Ardentprivacyardentprivacy.aiin𝕏

Ardent Privacy provides a data-centric security and privacy platform that helps enterprises implement privacy programs, minimize data, and comply with global data protection regulations such as GDPR, CCPA, DPDPA, and others.

CybersecurityData & InfrastructureEnterprise SoftwareGovTechSaaS

Astek Diagnosticsastekdx.comin𝕏

Astek Diagnostics develops a diagnostic platform for rapid and accurate detection of urinary tract infections and related conditions in clinical specimens.

AI & Machine LearningBiotechDigital HealthHealthtechMedical DevicesBaltimore, US

Mustafa Al-Adhami(Founder)inCourtney Cavin(Cofounder)in

Attilasecattilasec.com
Audiooneaudioone.fyiApr 2021

Bethesda, US

Antonio Bray(Director)

Azadihealthazadihealth.com
Balance Theorybalancetheory.io

Balance Theory provides a platform that unifies data, intelligence, and managed expertise to help enterprise security leaders navigate the cybersecurity vendor market, comparing product capabilities, pricing, and effectiveness.

AI & Machine LearningCybersecurityEnterprise SoftwareSaaSColumbia, US

Nathan Necaise(Executive Officer, Director)Lisa Mathias(Executive Officer, Director)Gregory Baker(Executive Officer, Director)

BoardDan Burns(Director)John Funge(Director)in

Bandurasystemsbandurasystems.comin𝕏

Banadura Systems provides a network security platform that blocks malicious traffic and DNS threats across devices and networks.

CybersecurityLake Saint Louis, US

Suzanne Magee(Manager)Andrea S. Johnson(Manager)Andrea Johnson(Manager)

Beyondcommissionsbeyondcommissions.com

Beyond Commissions provides a commissions management solution designed to give companies greater accuracy and transparency, a smoother month-end process, and insights from their sales data.

Enterprise SoftwareFintechInsurTechSaaSSales Tech

Nigel Knowles(CEO & Owner)

Blocksynopblocksynop.comin𝕏

BLOCKsynop develops the Neural Blockade Monitor (NBM), a medical monitoring device, addressing clinical needs identified in collaboration with medical practitioners.

HardwareHealthtechMedical Devices

Wayne Sternberger(CTO & Co-inventor)Shari Sternberger(President/CEO)Ellyn Murphy(Senior VP, Marketing)

Bluestartelehealthbluestartelehealth.com
Bondtruebondtrue.com

BondTrue develops medical devices through design and development services.

Medical DevicesBaltimore, US

Bricatabricata.comin𝕏

This page presents OpenText Network Detection & Response, a network security product that combines signature inspection, anomaly detection, and machine learning to monitor network traffic in real time and detect known and hidden threats.

AI & Machine LearningCybersecurityEnterprise SoftwareColumbia, US

John Trauth(Chairman and CEO)John Becker(Director)George Schu(Director)Ben Levitan(Director)Gennadiy Savchuk(Executive Officer, Director)

BoardLenard Marcus(Director)in

Capsulomicscapsulomics.comin𝕏

Capsulomics offers Esopredict, a DNA methylation-based risk-stratification test that predicts progression from Barrett's esophagus to high-grade dysplasia or esophageal adenocarcinoma for gastroenterologists and pathologists.

AI & Machine LearningBiotechDigital HealthMedical DevicesHalethorpe, US

Daniel Lunz(Executive Officer, Director)William Stevens(Executive Officer)Stephen Meltzer(Director)

BoardJohn Neiderhuber(Director)

Carrtechcorpcarrtechcorp.comin𝕏

CarrTech is a medical device company that developed FROG (Filter Removal of Glass), an FDA-cleared device for safer medication preparation by filtering glass and particulates from drawn medications.

HardwareHealthtechMedical Devices

Sue Carr(Founder)Mark Beliczky(CEO)Jack Kent(CCO)John Brzezenski(CFO & Business Strategist)

Celcycelcy.com𝕏

Celcy develops a smart, automatic kitchen oven that cooks meals autonomously, with connected features aimed at consumers seeking convenient home meal preparation.

ConsumerFoodTechHardware

Max Wieder(Co-founder)Eddie Holzinger(Co-founder)

Cerebro Capitalcerebrocapital.comin𝕏

Cerebro Capital provides a technology-enabled platform for commercial lending that connects businesses with lenders to simplify and accelerate the business loan process.

B2B MarketplacesEnterprise SoftwareFintechSaaSBaltimore, US

Matthew Bjonerud(Founder & CEO)inKevin Dieter(Executive Officer)

BoardJames McGuire(Director)Douglas Becker(Director)Steve Reale(Director)in

Cidekiccidekic.com

CIDE KIC is a cloud-based SaaS platform for managing professional kitchens, supporting team collaboration, food safety management, cost control, and workflow efficiency.

Cloud ComputingEnterprise SoftwareFoodTechSaaS

James Hudock(Founder)Jorge Fajardo(Co-Founder, CSM)Brian Armstrong(VP Sales)Paul Stukus(CFO)

Clymbclymbup.ioin𝕏

Clymb develops emotional wellness programs for young people to build resilience, emotional intelligence, and reduce stress.

EdTechHealthtechHR TechMental HealthWellness & FitnessBaltimore, US

Ashley Williams(Founder)

Commoncurriculumcommoncurriculum.com𝕏

Common Curriculum offers a digital lesson planning and collaboration platform for teachers and school administrators.

EdTech

Cooltechcorpcooltechcorp.com

CoolStat is an investigational medical device that delivers dry air through the nasal passages to cool patients with fever and other conditions, currently being studied in clinical trials for neurogenic fever, cardiac arrest, and migraine pain management.

Digital HealthHealthtechMedical DevicesBaltimore, US

Brian Lipford(Manager)

Cravvncravvn.com𝕏

An AI-powered mobile app that recommends restaurants and recipes based on user preferences, dietary restrictions, and mood.

AI & Machine LearningConsumerFoodTech

Curbiocurbio.comin𝕏

Curbio manages home preparation and improvement services for real estate agents, teams, and brokers.

B2B MarketplacesPropTech

CyDeploycydeploy.comin𝕏

CyDeploy provides a platform that uses automated asset discovery, digital twins, and AI-driven testing to help organizations understand the impact of technology changes like patches and digital transformations on their environment.

AI & Machine LearningCybersecurityDeveloper ToolsEnterprise SoftwareLaurel, US

Datakwipdatakwip.comMay 2019

Datakwip offers an AI-driven building intelligence platform that connects to a building's BAS to automatically identify equipment, map data points, and run AI agents that detect faults and find energy savings without hardware or manual setup.

AI & Machine LearningCleantechClimate TechPropTechFrederick, US

Cory Perdue(Executive Officer, Director)

Docksharedockshare.appDec 2023

Dockshare is an online marketplace that connects boaters with private dock and boat slip owners who want to rent out their unused docks.

ConsumerMarketplacesPropTechTravel & HospitalityTowson, US

Nate Young(Co-founder)Gina Young(Co-founder)

Dogwoodgamingdogwoodgaming.comin𝕏

Dogwood Gaming is an independent video game developer that has released titles including Ashes of Kanaka, Private Detective Punch Drunk, Static, and K'nife Fight.

AI & Machine LearningDeveloper ToolsGamingRockville, US

Sam Martino(Founder)

Dynamicdimensiontechnologiesdynamicdimensiontechnologies.com

Dynamic Dimension Technologies (DDT) develops software and engineering solutions for simulation, training, and system analysis serving government, defense, and community clients, including its VxSIM virtual environment platform for applications like emergency response, infrastructure planning, and defense readiness.

Deep TechDefense TechDeveloper ToolsRobotics

Karl Leodler(CEO)

Eatdindineatdindin.com
EcoMap Technologiesecomap.techin

EcoMap builds a software platform that provides connective infrastructure for entrepreneurial ecosystems, helping regional economic development organizations, state agencies, and business support organizations make their programs discoverable and interconnected for small business owners.

AI & Machine LearningData & InfrastructureGovTechImpact & Social GoodMarketing TechSaaSWilmington, US

Pava LaPere(Founder)Sherrod Davis(CEO)SMITHA GOPAL(Executive Officer, Director)

BoardNATHANIEL VASEL(Director)TIMOTHY MCLOUGHLIN(Director)ERICA DROHAN(Director)

Elite Gaming Liveelitegaminglive.com
Elixirgentherapeuticselixirgentherapeutics.com

Elixir Therapeutics develops therapies for rare diseases and aging-related conditions using proprietary technologies, including ZSCAN4 for telomere extension in stem cell therapies and Bobcat mRNA for delivering large genes.

BiotechLongevityMedical DevicesBaltimore, US

Minoru Ko(Chief Scientific Officer)AKIHIRO KO(Executive Officer, Director)

BoardHIROAKI KOBAYASHI(Director)JEFFREY CLELAND(Director)THOMAS WHITE(Director)SHAUNA CALLAHAN(Director)

Emedicalsentryemedicalsentry.com𝕏

eMedicalSentry provides a Remote Patient Monitoring (RPM) service for hospitals and healthcare providers, aimed at reducing 30-day readmission rates and avoiding Medicare penalties.

Digital HealthHealthtechMedical DevicesSaaS

Empowertherapeuticsempowertherapeutics.com
Ensembleconsultancyensembleconsultancy.comin𝕏

Ensemble is a technology company providing digital transformation, artificial intelligence, application development, and open innovation services, including running prize competitions and building decision support tools.

AI & Machine LearningCloud ComputingDefense TechEnterprise SoftwareGovTech

Epiwatchepiwatch.com

EpiWatch is an FDA-cleared seizure detection app for Apple Watch that monitors for tonic-clonic seizures and sends real-time alerts to users and their caregivers.

Digital HealthHealthtechMedical DevicesBaltimore, US

Nathan Crone(Executive Officer, Director, Promoter)Gregory Krauss(Executive Officer, Director, Promoter)Teresa Prego(Executive Officer, Director)Dean Papadopoulos(Executive Officer, Director, Promoter)

BoardDaniel Hanley(Director)Richard Schmitt(Director)

EQL Financeeqlfinance.comin

FintechNewark, US

Equiscorebiequiscorebi.com
Escalateescalateusa.comin

Escalate provides support solutions for businesses managing hourly and frontline workers, focusing on reducing turnover and increasing productivity to drive profitability and business growth.

EdTechEnterprise SoftwareFintechHR TechSilver Spring, US

Sienna Daniel(Cofounder & President)inSean Segal(Cofounder & CEO)in

Eyruseyrus.comin𝕏

Eyrus operates a worksite intelligence platform for the construction industry that manages the construction workforce, monitors job sites, and automates workflows using data and IoT technology.

AI & Machine LearningConstruction TechIoTSaaS

FactoryFour (Fusiform)factoryfour.comin

Xometry provides an instant quoting and manufacturing platform that connects startups and enterprises with a global network of manufacturers to produce precision components from prototype through high-volume production.

Advanced ManufacturingB2B MarketplacesSaaS

Fanzplayappfanzplayapp.com𝕏

FanzPlay is a mobile social gaming app where fans compete in real-time trivia and knowledge-based games about their favorite sports teams and performers, with prizes and live scoreboard displays during events.

GamingSocial

Femly Future of Healthfemly.com

Femly supplies organic cotton period care products (tampons and pads) to offices, schools, airports, and hospitality venues to improve workplace wellness and accessibility for employees and visitors.

FemTechWellness & Fitness

Exits · 4

IPOs and acquisitions across the tracked portfolio

BullfrogaiNASDAQ: BFRGCartesian Therapeutics (NASDAQ: RNAC)NASDAQ: RNACLongeveronNASDAQ: LGVNXometryNASDAQ: XMTR

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has TEDCO made?
TEDCO has 185 tracked investments, including 2 dated in the last 24 months.
What stage does TEDCO invest at?
TEDCO invests at the Pre-Seed, Seed, Series A, Series B stages.
What sectors does TEDCO focus on?
TEDCO focuses on Advanced Manufacturing, AI & Machine Learning, Biotech, Consumer, Deep Tech, Defense Tech, Hardware, Healthtech, Logistics & Supply Chain, Marketing Tech, Mobility & Transportation, SaaS, Travel & Hospitality.
Where is TEDCO located?
TEDCO is headquartered in Columbia, US.
Who does TEDCO co-invest with?
TEDCO most often shares deals with Maryland TEDCO, Techstars, TCP Venture Capital, among 103 tracked co-investors.

Media · Podcasts & interviews

featuring the team

Troy A. LeMaile-Stovall, CEO, TEDCO, A DotCom Magazine Interview

DotCom Magazine Entrepreneur Spotlight Series · Troy A. LeMaile-Stovall

TEDCO Venture Talks Ep 7: Jack Miner with Dr. Joe Cunningham, Managing Director, Santé Ventures

TEDCO · Jack Miner

TEDCO Venture Talks Ep 6: Jack Miner with Luke Cooper, Founding Managing Partner, Latimer Ventures

TEDCO · Jack Miner

TEDCO Venture Talks Ep 5: Jack Miner with Christopher College, Managing Partner, TCP Venture Capital

TEDCO · Jack Miner

TEDCO Venture Talks Ep 4: Jack Miner with Katherine Hill Ritchie, Venture Funds at TEDCO

TEDCO · Jack Miner

TEDCO Venture Talks Ep 3: Jack Miner with David Brophy, Professor of Finance, University of Michigan

TEDCO · Jack Miner

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