As Advoteck works to bring its app to market later this year, an equity investment from the Missouri Technology Corporation is expected to help the Kansas City-based startup expand its reach nationwide in the fight against cyber crime.
MTC on Tuesday announced $2.6 million in investments across seven Missouri companies — primarily focused on fostering innovation in tech-driven ventures. Three of the startups are headquartered in Kansas City. Individual funding amounts from the state-sponsored venture capital program were not disclosed.
Click here to learn more about MTC’s IDEA Fund program, which uses public funding (both state and federal) to drive economic development within the state.
Advoteck’s TypeSafe app offers financial literacy resources and tips to help individuals stay safe online — specifically aging adults and adults with special needs. Among other features, the app notifies caregivers if their loved one shares sensitive information online.
“Our founders’ personal connection to the problem we are trying to solve helps us stand out,” said co-founder Danny Moran, whose sister with special needs lost more than $1,000 because of a scam. “We’ve also made a commitment to not only safeguard vulnerable individuals from cybercrime, but also do so while respecting their digital autonomy.”
“Almost everyone we talk to knows someone who has been scammed online, which underscores the significance of this issue and played a role in our recognition as well,” he added.
Click here to learn more about Advoteck.
Danny Moran and Bryce Wolff, Advoteck, pose with Jeff Hornsby and Bob Regnier during the awards presentation for the 2024 University of Missouri-Kansas City’s Regnier Venture Creation Challenge; photo by Startland News
The MTC funding — which follows a big win for Moran and his co-founder Bryce Wolff at this spring’s University of Missouri-Kansas City’s Regnier Venture Creation Challenge, as well as funding this summer from Digital Sandbox KC — signals strong momentum for Advoteck, he said, as well as validating its mission.
The TypeSafe app is now in development and gearing up for beta testing in the near future, Moran said, with a planned launch later this year.
“We’re dedicated to empowering individuals and families to navigate the digital world safely, and encourage interested individuals to sign up for our beta test now on our website,” he added.
Other Missouri companies earning MTC backing include:
- Agragene, St. Louis — A pioneering biotech company developing Precision-guided Sterile Insect Technique (pgSIT), utilizing CRISPR gene editing to create a sustainable, cost-effective solution for pest control in agriculture.
- Attane Health, Kansas City — A digital health company focused on providing under-served patients and Medicaid members with the high-quality food, nutrition support and health coaching they need to help manage their chronic health conditions, and lower the cost of care.
- FinLocker, St. Louis — A secure financial fitness and homeownership preparedness app for mortgage lenders, banks and credit unions to reach, assist, engage and nurture early journey first time homebuyers.
- HabiTerre, St. Louis — An advanced science and technology company, dedicated to unlocking the full potential of agriculture as a climate solution by providing rigorous GHG and environmental outcome quantification at scale.
- InventXYZ, KansasCity — Makes it easy for all schools to teach all students in grades 6-12 workforce-caliber computer science and artificial intelligence even without a dedicated qualified teacher.
- PumpTrakr, Cape Girardeau — The only modular web/mobile application with a software application and IoT devices for farms to automate irrigation operations/communications for flood pumps, center pivots, water depth/flow, fuel, and maintenance.
Funding is expected to help Attane — formerly Free From Market — accelerate growth through platform enhancements and hiring additional team members in Kansas City, said founder Emily Brown.
Emily Brown, Attane Health (formerly Free From Market)
“The investment from MTC continues to signal conviction on our approach as a leading digital solution for chronic conditions. We’re also proud to build in Kansas City,” she added. “MTC joins a diverse investment syndicate poised to support our growth.”
Attane pioneers digital solutions for chronic conditions and maternal health. Its traction with large health plans continues to validate the startup’s holistic approach to addressing health needs of underserved populations through food and nutrition care, Brown said.
The company also recent was selected to serve as a subject matter expert to the Coding4Food Project; a move that recognizes Attane Health’s unparalleled expertise and dedication in the realm of healthcare and personalized nutrition care, she added.
ICYMI: MTC’s spring $1.4M investment cycle loops Facility Ally, DevStride into equity deals
MTC accepts IDEA Fund applications continuously and reviews applications on a quarterly cycle to determine award allocation. Awarded companies have up to one year to secure the matching co-investment, close their funding round, and receive MTC’s investment.
Deadlines for full consideration for each quarterly application review cycle:
- 11:59 p.m., Wednesday, Aug. 7 — October 2024 Award Cycle
- 11:59 p.m., Wednesday, Nov. 6 — January 2025 Award Cycle