West Des Moines-based MākuSafe has wrapped up their seed round and has raised $3 million.
“Part of the money will go towards growing our team, but primarily it will going towards scaling our manufacturing process,” said Gabriel Glynn, CEO
MākuSafe currently has five full-time employees with plans to hire one or two more in the immediate future, Glynn told Clay & Milk.
The round was led by EMC Insurance Companies, with participation by Next Level Ventures. This is the second time EMC Insurance Companies has invested in MākuSafe, having participated in $1.5 million round in October 2017. The round brings the total funds raised by MākuSafe to nearly $4.5 million.
“One of the things I’m really proud of is that the capital support has come from local investors,” Glynn said. “It’s a feather in the cap of the startup community here that the bulk of our funding has come from our own backyard.”
Last September, MākuSafe was selected to pitch at Angel Capital Association’s Best of the Midwest regional meeting, an angel capital event that took place in Des Moines. Accredited investors from around the Midwest pooled money together and collectively picked which participating startups would receive investment. MākuSafe was one of nine companies to receive investment money from the pooled $470,000, resulting in each company receiving an investment of more than $50,000.
MākuSafe will be presenting at Master Builders of Iowa Annual Winter Conference. Mark Frederick, MākuSafe CTO & co-founder, will be talking about “Predicting Risk and Workplace Accidents Using Wearable Tech.”
Pitchly & MākuSafe receive investments from Best of the Midwest meeting -Dec. 18, 2018
Maple Ventures: an entrepreneur center for industrial startups -Aug. 21, 2018
MākuSafe raises $1.25 million to make workers safer -Oct. 16, 2017Q