This story was made possible through support from TEDCO, the Maryland Technology Development Corporation, which 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 tedcomd.com. All stories are independently reported, with no partner review.
The Baltimore area startup scene stacked up some wins last month.
Former Techstars Baltimore participant and RealLIST 2026 startup TechNovaTime closed a $3.4 million pre-seed funding round. Plus, the Greater Baltimore Committee committed $1.6 million to continue funding its innovation-focused team, UpSurge.
Other startups are seeing institutional support, too. Emerging Technology Centers, an initiative of the quasi-public Baltimore Development Corporation, invested $250,000 in medical device company Gelectric Medical.
Scroll down for all the details and more money moves.
Techstars alum TechNovaTime closes $3.4M round
Baltimore-based TechNovaTime secured $3.4 million to continue advancing its platform, which automates healthcare administrative tasks.
The startup plans to use most of the cash to bring on additional engineers.
“As a tech startup, a big part of our expense is finding the right technical talent to accelerate some of what we’re building,” CEO Youssef Abubaker told Technical.ly, “and meet some of the demand we’re seeing.”
New York-based venture capital firm AIN Ventures led the round, with participation from Speedinvest and Multiball Capital, alongside follow-on support from Techstars. TechNovaTime graduated from the Techstars AI Health program in 2025.
The rest of the round will go to customer service and account management. The company recently signed an initial agreement with one of the country’s leading hospital systems, though it declined to share further details, including the provider’s name.
“Healthcare executives are very high-touch type clientele,” Abubaker said. “They operate such large organizations that it’s difficult for them to sometimes see how work is happening across 30,000 people.”
GBC reinvests $1.6M in UpSurge
The Baltimore region’s economic development organization is doubling down on the innovation economy.
The Greater Baltimore Committee (GBC) has pledged $1.6 million in operating support over the next two years for UpSurge, the organization’s innovation and entrepreneurship initiative. The funding comes from several key local institutions, including Johns Hopkins Technology Ventures, the Bisciotti Family Foundation and the University of Maryland Medical System (UMMS).
The organization also named Chris Brandt as the permanent CEO of UpSurge following his interim term.
“The future of Maryland’s economy and the future of healthcare are increasingly intertwined,” UMMS CEO Mohan Suntha said in a press release. “Our region is home to extraordinary strengths in medicine, research, technology and entrepreneurship, yet our greatest opportunity lies in connecting those assets more intentionally and at a greater scale.”
The GBC absorbed UpSurge in 2025. Once known for community meetups such as Equitech Tuesdays, UpSurge has since pivoted toward building data-driven support for high-growth startups.
BDC awards biotech startup $250k
The Baltimore Development Corporation (BDC) has added another startup to its portfolio.
The economic development agency’s innovation arm awarded $250,000 to University of Maryland spinout Gelectric Medical. The company will use the funds to develop NuGel, a skin adhesive designed specifically for neonatal intensive care units.
“Gelectric is exactly the kind of company we built BDC Innovation to support,” BDC Innovation Vice President Leo Senai said in a press release. “The science is rigorous, it came out of a Maryland lab, and the team chose Baltimore to build it.”
The startup is currently completing its Series A round, according to the release, and plans to launch NuGel within the next year.
More money moves
- TEDCO announced a $500,000 venture fund investment in Baltimore-based space logistics company — and 2026 RealLIST Startup — Space Phoenix Systems.
- Uvantis Therapeutics, a Columbia life sciences company, secured $100,000, according to an SEC filing.
- Columbia-based software company Revelo nabbed $300,000 from TEDCO’s pre-seed builder fund.
- Ciena Corporation in Hanover launched a $200 million venture fund to invest in early-stage technology companies, per the Baltimore Business Journal.
- Maryland regulators recommended ride-share app Empower be fined more than $36 million for violating state law.
- Cancer immunotherapy company OS Therapies landed $7 million, according to an SEC filing.
- Rockville-based biotech startup Accufy Diagnostics brought in $2 million, according to an SEC filing.
