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.-30-