Fundraising Fox

TEDCO

Government fund

Columbia · Pre-Seed–Series B · 8 people tracked

Find your way into TEDCO

1,851 people in our graph share verified history with the TEDCO team — schools, employers, funds. One of them is your warm intro.

Ross Perot Jr.unlockedknows Kim Mozingo · together at United States Air Force (overlapped)
×4knows the team · via Stealth Startup
×4knows the team · via Georgetown
×2knows the team · via Citi
knows the team · via University of Maryland - Robert H. Smith School of Business
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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
8 investments
Tracked investments
200

Team · 8 people

from the firm's website & public directories
Elias Freas· Venture Fund Portfolio Management Intern
Harry Coker Jr.· TEDCO Board Member (MD Department of Commerce)
Rajaniece Thompson· Assistant Director & Grant Manager

What they invest in

from 152 of 200 portfolio companies

AI & Machine Learning ×44Healthtech ×42Medical Devices ×42Biotech ×40Deep Tech ×20Digital Health ×19SaaS ×19Hardware ×18

HQs:United States×104United Kingdom×2Switzerland×1Israel×1

Who they back

founder profiles across 86 portfolio companies
57%
solo founders
49 of 86 mapped founding teams
25%
repeat founders
of 85 founders with career history
~2 yrs
old at investment
median across 17 dated deals

Founding team size:solo founder×492 founders×293 founders×64+ founders×2

Where their founders studiedfrom 84 founders with education data

The Johns Hopkins University ×10University of Maryland ×7University of Maryland Baltimore County ×5Penn State University ×4Stanford University ×4Massachusetts Institute of Technology ×3The George Washington University ×3University of Michigan ×3

Where their founders worked beforefrom 85 founders with career history

Johns Hopkins University ×6Avast ×2Baxter Healthcare ×2Howard University ×2Lonza ×2National Institutes of Health ×2National Science Foundation ×2Northrop Grumman Corporation ×2

Accelerator rootsportfolio companies that came through a program

Techstars ×12

23 founders hold a PhD · 15 hold an MBA (of 84 with degree data)

Investments · 200 tracked

founders shown can be your intro path

By year:2026 · 82025 · 52024 · 22023 · 122022 · 32021 · 42020 · 12019 · 12018 · 22017 · 32016 · 12015 · 143 dated

Bullfrogaibullfrogai.cominNASDAQ: BFRGApr 2022

BullFrog AI develops AI/ML software for drug discovery that harmonizes fragmented biomedical data and analyzes complex multimodal datasets to identify patient subgroups, drug targets, and biomarkers.

AI & Machine LearningBiotechHealthtechGaithersburg, US

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

Co-investorsMaryland TEDCO

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

Cartesian Therapeutics is a clinical-stage biotechnology company developing mRNA-based cell therapies aimed at treating autoimmune diseases.

BiotechHealthtechWatertown, US

Metin Kurtoglu(Executive Officer)Omid Farokhzad(Director)Chris Jewell(Executive Officer)inCarsten Brunn(President, CEO & Chairman of the Board)inEmily English(Executive Officer)inBlaine Davis(Executive Officer)in

Co-investorsK2 HealthVenturesMaryland TEDCOSchooner CapitalPolaris Partners

Longeveronlongeveron.comin𝕏NASDAQ: LGVN

Longeveron is a clinical-stage biotechnology company developing allogeneic cellular therapies for life-threatening conditions affecting children and the elderly.

BiotechHealthtechLongevityMiami, US

Joshua M. Hare(Executive Officer, Director)inPaul Lehr(Executive Officer)inLisa A. Locklear(Executive Officer)inWa'el Hashad(Executive Officer, Director)inNataliya Agafonova(Executive Officer)inJames Clavijo(Executive Officer)in

Co-investorsMaryland TEDCO

Xometryxometry.comin𝕏NASDAQ: XMTR

Xometry operates an on-demand manufacturing marketplace connecting buyers—from startups to global enterprises—with a vetted global network of suppliers for precision components across prototyping and high-volume production.

Advanced ManufacturingB2B MarketplacesLogistics & Supply ChainGaithersburg, US

Randy Altschuler(Founder)in

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

Co-investorsBMW i VenturesCherry VenturesDell Technologies CapitalMaryland TEDCOPraxis Ventures Management, LlcAlmaz Capital

INFRATRAC INCinfratrac.comin𝕏✓ verified

InfraTrac develops spectroscopic authentication and anti-counterfeiting solutions for additive manufacturing and pharmaceuticals.

Advanced ManufacturingDeep TechHardwareMedical DevicesWashington, DC, US

Sharon Flank(Founder & CTO)inJonGary

Ion Storage Systemsionstoragesystems.com✓ verified

ION Storage Systems develops solid-state battery technology, including its Cornerstone cell, and ships samples to consumer electronics manufacturers.

CleantechDeep TechEnergyNew MaterialsColumbia, US

Dr. Eric Wachsman(Executive Chair & Co-founder)Jorge Diaz Schneider(CEO)Ravi Abbineni(Chief Financial Officer)

Co-investorsAlsop Louie PartnersVoLo Earth VenturesToyota Ventures

Mstromstro.ai✓ verified

MSTRO operates a network called Living Intelligence that adds responsive, data-driven capabilities to physical venues such as stadiums, racetracks, hospitals, airports, and city districts without requiring operators to become data companies.

AI & Machine LearningData & InfrastructureDeep TechEnterprise SoftwareIoT

Chris Busch(Founder & CEO)inYancey Sanford(Founder & Chief Innovation & Research Officer)inPatrick Eikenaar(Chief Operating Officer)inGuli Gadiock(Chief Legal Officer)

Co-investorsMaryland TEDCO

1104HealthMay 2026

Bethesda, US

Qun Rose Wang(Executive Officer, Director)

3Dnamics3dnamics.comin

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

Ha Nam Nguyen(Founder)in

Co-investorsMaryland TEDCO

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

Co-investorsAtlanta Technology AngelsMaryland TEDCOTamiami Angel

Abreakmusicabreakmusic.comin𝕏

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

B2B MarketplacesCreator EconomyMedia & Entertainment

Bruce Tyler(Founder)in

Co-investorsMaryland TEDCO

Activechargeactivecharge.us

Co-investorsMaryland TEDCO

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

Co-investorsHackensack Meridian Health Bear's DenMaryland TEDCO

AGED Diagnosticsageddiagnostics.com

Co-investorsHow Women InvestIntelligence VenturesMaryland TEDCO

Aidaraidar.comin𝕏

Aidar (Aidar Health) develops digital medicine solutions that combine physical and digital biomarkers with predictive algorithms to support precision medicine and remote patient monitoring.

AI & Machine LearningDigital HealthMedical Devices

Sathya Elumalai(Founder)in

Co-investorsMaryland TEDCO

Airgilityairgility.co

Pramod Raheja(Founder)in

Co-investorsMaryland TEDCO

Alchemityalchemity.tech

Co-investorsMaryland TEDCO

Alirtifyalirtify.com

Co-investorsMaryland TEDCO

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

Co-investorsMaryland TEDCO

Aqualithaqualith.net

AquaLith manufactures next-generation batteries and battery materials, developing new material chemistries that increase energy density and reduce charging time for consumer electronics and electric vehicles.

CleantechEnergyNew MaterialsCollege Park, US

Gregory Cooper(Founder & CEO)in

Co-investorsMaryland TEDCO

Ardentprivacyardentprivacy.aiin𝕏

Ardent Privacy provides a data-centric security and privacy platform that helps enterprises discover, minimize, and protect their data while meeting privacy compliance requirements across numerous global regulations (such as GDPR, CCPA, DPDPA, and LGPD).

CybersecurityEnterprise SoftwareSaaS

Co-investorsMaryland TEDCO

Astek Diagnosticsastekdx.comin

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

Co-investorsMaryland TEDCOY Combinator

Audiooneaudioone.fyiApr 2021

Bethesda, US

Antonio Bray(Director)

Co-investorsMaryland TEDCO

Azadihealthazadihealth.com

Co-investorsMaryland TEDCO

Balance Theorybalancetheory.ioin

Balance Theory offers a platform for managing enterprise cybersecurity investment decisions end-to-end, from detecting spending triggers through vendor evaluation, negotiation, and program rationalization.

AI & Machine LearningCybersecurityEnterprise SoftwareColumbia, US

Nathan Necaise(Executive Officer, Director)inLisa Mathias(Executive Officer, Director)inGregory Baker(Executive Officer, Director)

BoardDan Burns(Director)John Funge(Director)inAlex Tosheff(Director)

Co-investorsDataTribeMaryland TEDCOSyn Ventures Seed Management Llc

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)inAndrea S. Johnson(Manager)

Co-investorsMaryland TEDCO

BC3 TechnologiesJul 2026

HealthtechBaltimore, US

Wayne Grube, Jr.(Executive Officer)

BoardStephen Shaw(Director)David Michael Wisniewski(Director)Maria Caschetta(Director)Lee Jay, Jr.(Director)

Beyondcommissionsbeyondcommissions.com

Beyond Commissions builds customizable software for revenue and commissions accounting, payment reconciliation, and financial workflow management aimed at wealth management and life insurance organizations, including advisors, agencies, and carriers/custodians.

FintechInsurTechSaaS

Nigel Knowles(CEO & Owner)

Co-investorsMaryland TEDCO

Blocksynopblocksynop.comin𝕏

Blocksynop develops the Neural Blockade Monitor, a noninvasive, real-time device for measuring the effectiveness of local anesthetics (neural blocks) in patients.

HardwareHealthtechMedical Devices

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

Co-investorsMaryland TEDCO

Bluestartelehealthbluestartelehealth.com

Co-investorsMaryland TEDCO

Bondtruebondtrue.com

BondTrue develops medical devices through design and development services.

Medical DevicesBaltimore, US

Co-investorsMaryland TEDCO

Bricatabricata.comin𝕏acquired by OpenText

This page presents OpenText Network Detection & Response, a cybersecurity product that monitors network traffic using signature inspection, anomaly detection, and machine learning to detect and respond to threats in real time.

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

Co-investorsMaryland TEDCOEdison Partners

Capsulomicscapsulomics.comin𝕏Mar 2023 · $3M

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)inWilliam Stevens(Executive Officer)Stephen Meltzer(Director)

BoardJohn Neiderhuber(Director)

Co-investorsEarly Light VenturesMaryland TEDCOGaingelsRiptide Ventures

Carrtechcorpcarrtechcorp.comin𝕏

CarrTech develops FROG (Filter Removal of Glass), an FDA-cleared all-in-one device that combines a filter and hypodermic needle in a single package for preparing injectable medications from glass ampoules.

HardwareHealthtechMedical Devices

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

Co-investorsMaryland TEDCOOld Line Capital Partners

Celcycelcy.com𝕏

Celcy makes a smart oven and freezer that automatically prepares meals while the user is away, controlled through a companion app that lets people select and schedule meals remotely.

ConsumerFoodTechHardware

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

Co-investorsMaryland TEDCORedbud VC

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

Co-investorsFINTOP CapitalInner Loop CapitalMaryland TEDCOTCP Venture CapitalUlu VenturesJAM FINTOP

Cidekiccidekic.com

Cide Kic is a digital, image-based kitchen management product that handles recipes, menus, banquets, food safety, food waste, and staff coordination for professional kitchens.

FoodTechSaaS

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

Co-investorsMaryland TEDCO

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)

Co-investorsMaryland TEDCOTechstars

Commoncurriculumcommoncurriculum.com𝕏

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

EdTech

Co-investorsMaryland TEDCO

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)

Co-investorsMaryland TEDCO

Cravvncravvn.com𝕏Feb 2025

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

AI & Machine LearningConsumerFoodTech

Michael Kalu(Founder)in

Co-investorsMaryland TEDCO

Curbiocurbio.comin𝕏

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

B2B MarketplacesPropTech

Co-investorsBrick Mortar VenturesCamber CreekCerity Partners VenturesComcast VenturesMaryland TEDCOSecond Century Ventures

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 LearningCloud ComputingCybersecurityDeveloper ToolsEnterprise SoftwareLaurel, US

Tina Williams-Koroma(Founder & CEO)David Steadman(Technical Co-Founder/President of Engineering)

Co-investorsBIP VenturesMaryland TEDCOTechstarsPanoramic VenturesPreface Ventures

Datakwipdatakwip.comMay 2019

Datakwip connects building data sources — building automation systems, meters, sensors, and weather feeds — and deploys AI agents that identify energy savings, detect equipment faults, and generate reports without manual configuration.

AI & Machine LearningEnergyPropTechFrederick, US

Cory Perdue(Executive Officer, Director)

Co-investorsMaryland TEDCO

Diagnostic Biochipsdiagnosticbiochips.comin𝕏

Diagnostic Biochips develops multichannel neural probes for extracellular recording in electrophysiology research, along with cloud-based software for spike sorting and analysis.

BiotechHardwareMedical DevicesGlen Burnie, US

Brian Jamieson(Founder & CEO)inFan Wu(CTO & VP Product Development)inRobert Seaton Collins(Executive Officer, Director)

Docksharedockshare.appinDec 2023

Dockshare is a marketplace that connects boaters with private dock owners, letting owners rent out unused docks for extra income and giving boaters short-term or long-term dock rentals in various locations.

ConsumerMarketplacesTravel & HospitalityTowson, US

Nate Young(Co-founder)Gina Young(Co-founder)Nate Y.(Founder)in

Co-investorsMaryland TEDCO

Dogwoodgamingdogwoodgaming.comin𝕏

Dogwood Gaming is an independent game development studio that builds PC games across genres — including psychological thrillers, party brawlers, RPGs, and visual novels — distributed mainly on Steam.

AI & Machine LearningGamingMedia & EntertainmentRockville, US

Sam Martino(Founder)in

Co-investorsMaryland TEDCO

Dynamicdimensiontechnologiesdynamicdimensiontechnologies.com

Dynamic Dimension Technologies (DDT) builds engineering and software solutions—including simulation tools, robotics systems, and data solutions—for government and commercial clients, with a track record supporting the U.S.

Deep TechDefense TechRobotics

Karl Leodler(CEO)

Co-investorsMaryland TEDCO

Eatdindineatdindin.com

Co-investorsMaryland TEDCO

EcoMap Technologiesecomap.techin𝕏

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)inSMITHA GOPAL(Executive Officer, Director)in

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

Co-investorsLas Olas Venture CapitalMaryland TEDCOTCP Venture CapitalTechstarsCofounders CapitalLas Olas VC

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)

Co-investorsMaryland TEDCOUTEC

Emedicalsentryemedicalsentry.com𝕏

eMedicalSentry provides remote patient monitoring (RPM) and telehealth services that let hospitals and healthcare providers track and communicate with patients remotely to reduce 30-day readmissions and avoid Medicare penalties.

Digital HealthHealthtechMedical Devices

Co-investorsMaryland TEDCO

Empowertherapeuticsempowertherapeutics.com

Co-investorsMaryland TEDCO

Ensembleconsultancyensembleconsultancy.comin𝕏

Ensemble is an advanced technology consultancy providing digital modernization and R&D services—including data platforms, API development, machine learning, cloud infrastructure, and prize competition design—to federal agencies, universities, and enterprises.

AI & Machine LearningCloud ComputingGovTech

Co-investorsMaryland TEDCO

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)inDean Papadopoulos(Executive Officer, Director, Promoter)

BoardDaniel Hanley(Director)Richard Schmitt(Director)

Co-investorsIaso VenturesMaryland TEDCO

EQL Financeeqlfinance.comin𝕏

AI & Machine LearningFintechNewark, US

Co-investorsMaryland TEDCOTechstarsVillage Capital

Equiscorebiequiscorebi.com

Co-investorsMaryland TEDCO

Escalateescalateusa.comin𝕏

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

Co-investorsMaryland TEDCOPotencia VenturesTechstars

Exits · 5

IPOs and acquisitions across the tracked portfolio

BullfrogaiNASDAQ: BFRGCartesian Therapeutics (NASDAQ: RNAC)NASDAQ: RNACLongeveronNASDAQ: LGVNXometryNASDAQ: XMTRBricataacq. by OpenText

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has TEDCO made?
TEDCO has 183 tracked investments, 3 of which have exited via acquisition or IPO, including 5 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.
Does TEDCO lead rounds?
TEDCO has led 3 of the 15 rounds where its role is on record.
Who does TEDCO co-invest with?
TEDCO most often shares deals with Maryland TEDCO, Techstars, TCP Venture Capital, among 109 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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