The Iowa Economic Development Authority (IEDA) board today approved innovation funding for five startups located in Altoona, Le Claire, West Des Moines and Iowa City.
In total, the IEDA awarded $500,000 in funding. Here are the five startups that received funding:
HomePainter, based in Des Moines, has developed an online estimating tool that provides homeowners with a fast and accurate paint estimate in less than five minutes. HomePainter then subcontracts booked jobs to local vetted and registered painters.
The company was awarded a $25,000 Proof of Commercial Relevance (POCR) loan for product refinement, market planning and key personnel.
Le Claire-based Trigger Interactive is currently under development of A.I.M.S.S. (Attachable Interactive Modular Shooting System).
A.I.M.S.S. is a wireless and expandable system of smart target attachments that mount to steel firearm targets and give the targets the ability to interact with the user. The company plans to do product and consumer testing to make informed decisions on how to move forward with commercialization.
Trigger Interactive was awarded a $25,000 POCR loan for market analysis, proof of concept work, product refinement, market planning, and adding personnel and equipment.
Nased in West Des Moines, MakuSafe has developed wearable technology that improves safety for factory workers, while reducing worker compensation claims and mitigating workplace risks.
Its wearable technology gathers real-time environmental and motion data from workers to identify high-risk trends in facilities.
The company was awarded a $100,000 loan from the Demonstration Fund for market planning and expanding its team.
Based in Iowa City, Rantizo is developing a platform that identifies of in-field anomalies applies agricultural chemicals aerially via drones.
Rantizo’s revolutionary spray techniques will reduce labor, increase crop yields and diminish environmental damage from chemical overapplication, spray drift, crop destruction and soil compaction.
Just last week, Rantizo became the first Iowa company legally authorized to use drones for the aerial application of agrochemicals.
Rantizo was awarded a $100,000 loan from the Demonstration Fund for product development and evaluation, field trials, product refinement, market planning, and initial production costs and regulatory advancement.
Lender Close, based in West Des Moines, is a unique web-based application/software built to provide credit unions and community lenders the latest mortgage lending technology products and solutions.
The company was awarded a $250,000 Propel loan from the Iowa Innovation Acceleration Fund that will be used for compliance and risk management.
IEDA provides $350,000 in funding to five startups -Aril 2, 2019
MākuSafe raises nearly $3 million seed round -Feb. 14, 2019
HomePainter offers estimates for painting projects online -Feb. 5, 2019
Rantizo is bringing drone technology to the ag industry –-Oct. 15, 2018