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Dec. 12, 2013 12:00 pm

MilestonePod: Pitch Across MD runner-up nears first round of funding

Jason Kaplan of MilestonePod answering judges' questions at the Pitch Across Maryland finals in November.

Wearable tech startup MilestonePod is about to close its first round of venture funding — $700,000 to help build its accelerometer devices that attach directly to the shoelaces of people’s sneakers.

The Baltimore Business Journal reports:

The company is in the process of closing of closing its first round of funding — $700,000 led by Panacea Capital Advisors, the Bethesda venture capital firm that also invested in Baltimore startup Foodem. The $700,000 in funding includes a $200,000 loan from the Anne Arundel Economic Development Corp. under its VOLT program.

MilestonePod is also a semi-finalist in this year’s InvestMaryland Challenge. While the challenge is yet to begin, the startup won the rights to a semi-finalist slot for coming in second place in this year’s Pitch Across Maryland contest in November.

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