BBJ: Another Baltimore Startup Wins Capital from USM Venture Fund
Tuesday, February 6, 2018
The University System of Maryland's Momentum Fund has awarded its second round of capital to a Baltimore startup looking to provide technology that helps stroke sufferers relearn to walk properly.
NextStep Robotics will receive $250,000 from the Maryland Momentum Fund, part of a $750,000 total fundraising round. This marks the fund's second award since its inception in 2016. Another Baltimore company, wood stove maker MF Fire, received $192,500 in November. USM's Board of Regents created the Momentum Fund to enable the academic system to invest in and support promising commercial opportunities coming from research and intellectual property at USM campuses. The fund has over $25 million to work with.
Other participants in the funding round include four investors connected to the Ford Capital investment group in Vancouver, British Columbia.
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