IEDA provides $350,000 in funding to five startups

(Photo courtesy of pexels).

The Iowa Economic Development Authority (IEDA) board has approved innovation funding for five startups located in Ames, Cedar Rapids, Iowa City and Prole.

In total, the IEDA awarded $350,00 in funding. Here are the five startups that received funding:

Aronson Woodworks (Prole)

Aronson Woodworks is a full-service woodworking company utilizing recycled urban lumber from affected ash trees. The company specializes in the application of their patented Claize process, which offers a modern aesthetic and functional durability.

The company was awarded a $100,000 Demonstration Fund loan for the hiring new team and new commercial space that will help them facilitate growth and ramp up production in the United States and Canada.

FarrPro (Iowa City)

FarrPro is developing next generation piglet heating solutions to help reduce both mortality and energy costs in farrowing facilities.

The company was awarded a $100,000 Demonstration Fund loan for the hiring new team members, purchasing equipment and developing marketing materials.

Mobile M2M (Cedar Rapids)

Mobile M2M, created a product called Off Hours, which allows users to limit the unwanted collection of personal data from smart home/connected devices.

The company was awarded a $25,000 Proof of Commercial Relevance (POCR) loan. Mobile M2M will use these funds to continue to refine their product and for market planning.

True360 (Ames)

True360 creates immersive experiences by installing its 360-degree cameras in zoo habitats and aquariums. They then use software to analyze hours of recorded content, compiles the most exciting moments.

The company was awarded a $25,000 POCR loan. True360 will use the funds for intellectual property development, evaluation and product refinement.

SAFI-Tech (Ames)

SAFI-Tech is a startup company with a patent-pending technology that uses supercooled liquid metal particles to solder electronic components without heat. The liquid metal powder of these particles is their patented Liquital® 62 product the company is commercializing.

The company was awarded a $100,000 Demonstration Fund loan that will go towards market planning and growing their team.

Previous coverage

Safi-Tech: Liquid-metal particles make heat-free soldering possible -July 31, 2018

FarrPro successfully​ wraps up seed investment round -June 29, 2018