These 16 Early-Stage Companies Were Backed by Ben Franklin Last Quarter
Ben Franklin Tech Partners is the Pennsylvania’s biggest tech investor, which last quarter invested a total of $2.3 million in 16 early-stage companies. For fiscal year 2016 it approved $10 million for 51 companies across southeastern Pennsylvania, up from $8.9 million in 2015.
Last quarter, Ben Franklin made seven of its deals with companies in the information technology sector, totaling $1 million, or 44 percent of its total investment. About 62 percent of the investment went to new companies, with most investments in companies based in Philadelphia and Delaware counties.
The investments give us a guide for what’s up next in the region, and looking at this list, it’s clear that companies in the health space are still a driving force.
Here are the 16 companies Ben Franklin invested in (one of them made our Startups to Watch list):
- Jenrin Discovery
- The Delaware County company is developing drugs for chronic conditions like diabetes, liver disease, and obesity.
- This device uses sound waves to clear obstructions in catheters during medical procedures.
- MBF Therapeutics
- The veterinary oncology company is developing vaccines to treat cancer and infectious diseases in dogs and cats.
- Kynectiv, Inc.
- Kynectiv has developed simulation-based technology that can be used to build training programs and learning models — think surgery simulation for doctors.
- Binto subscribers get a monthly delivery of reproductive health products hand-picked by medical experts.
- Shock Analytics
- The Philadelphia-based company has developed a noninvasive device to detect acute and chronic illnesses like congestive heart failure and sepsis.
- The tech company offers a cloud-based patient engagement platform for clinical trials.
- With this edtech platform, educators can spend less time searching for instructional resources for students with varied reading levels, skills, and interests.
- The One Health Company
- The founders behind this company have created a new model for contract research by testing new pharmaceuticals in clinical trials on sick pets.
- Photosonix Medical
- This Montco company is using a combination of light and ultrasound to treat chronic bacterial infections known as biofilms. Its tech can address patients with moderate to severe acne, for example.
- This next-generation online hub is a space where college students can read posts written by other students across the country and watch videos about current events, entertainment, sports, and more.
- Verge Aero
- This team of engineers builds and deploys drones for use in the entertainment industry. Their idea is to make drones the entertainment for audiences.
- The Chester County company’s online software helps companies create and execute sustainability plans.
- This company is working with Penn Medicine to develop an efficient system for breast milk management in neonatal ICUs.
- Also known as Cognitive Operations Systems, this software platform helps retailers manage inventory in their stores with robots.
- Advent Therapeutics
- This team of experts in the neonatal and pediatric drug market is developing therapies that address the needs of underserved patient populations.
Follow @fabiolacineas on Twitter.