TEDCO, Maryland’s economic engine for technology companies, announced a recent $300,000 Venture Funds investment in a biotechnology company, Pathotrak. TEDCO’s evergreen Venture Funds are dedicated to supporting the growth of the next generation of early-stage businesses in Maryland.
“We are dedicated to providing producers and manufacturers with the tools to be better equipped in the foodborne pathogen detection process,” said Javier Atencia, CEO of Pathotrak. “Thanks to TEDCO’s investment, we can further our mission to not only accelerate turnaround time of food safety tests but also contribute to reducing food waste and minimizing the cost of recalls.”
Pathotrak, based in College Park, Md., is a biotechnology company working to offer a cost-efficient solution to help reduce the detection time of food safety tests. Pathotrak’s patented technology expedites foodborne pathogen detection to eliminate food safety risks, lower costs for producers and avoid food outbreaks. Through their innovative technology, the company aims to improve the pathogen detection process from the typical 22-hour enrichment to an approximately 5.5-hour solution.
Pathotrak previously received funding and support from TEDCO’s funds and programs including the Venture Funds, Maryland Innovation Initiative (MII) and NIST – Science and Technology Entrepreneurship Program (N-STEP).
“Pathotrak leverages technology to provide an innovative solution that could pave the way for a safer future in food safety,” said Katherine Hill Ritchie, TEDCO’s senior director of Venture Funds. “With TEDCO’s follow-on investment, Pathotrak can continue efforts to support their mission and cultivate Maryland’s innovation ecosystem.”
TEDCO’s Venture Funds are one of the many investment opportunities TEDCO can provide to qualifying technology-based startups and small businesses throughout Maryland. For more information, visit our page at https://www.tedcomd.com/funding.
TEDCO, the Maryland Technology Development Corporation, enhances economic empowerment growth through the fostering of an inclusive entrepreneurial innovation ecosystem. TEDCO identifies, invests in, and helps grow technology and life science-based companies in Maryland. Learn more at www.tedcomd.com.