...VOLT Fund favors entrepreneurs with innovative technology. Selected companies have defendable intellectual property, an experienced team, and are at a stage in product development where the cash flow break-even point is expected within two years.
Baltimore, MD (PRWEB) October 22, 2013
SameGrain, Inc. (http://www.samegrain.com), an award winning “privacy first” social discovery start-up, was one of five companies selected to receive VOLT funding from the Anne Arundel Economic Development Corporation (AAEDC), which manages the fund. The VOLT Fund is designed to help high potential early stage technology companies attract follow-on funding from venture capital firms, angel investors and other sources.
Administered in conjunction with bwtech@UMBC and the Chesapeake Innovation Center, the VOLT Fund favors entrepreneurs with innovative technology. Selected companies have defendable intellectual property, an experienced team, and are at a stage in product development where the cash flow break-even point is expected within two years.
“VOLT funding was a perfect fit for us,” commented SameGrain co-founder and CFO, Ron Diegelman. "Not only will this allow us to expedite development of our core services, but will also enable us to add key technology resources to the team."
SameGrain was recently selected out of hundreds of applicants to present at MAVA’s TechBUZZ and also at Cooley’s Capital Call, both in Washington, D.C. last month. Days later, SameGrain gave a live demonstration to a large group of TechBreakfast attendees at AOL’s headquarters. The response to SameGrain has been very positive and 95% of current members surveyed would refer SameGrain to a friend.
A year ago, SameGrain secured $75,000 in funding from TEDCO. To continue the momentum, the company is now seeking an additional $500K to close a $750K early stage investment round.
SameGrain is currently located in the Emerging Technology Center (ETC) incubator, and will be a charter member company at the new Haven Street location later this month.
SameGrain, Inc. is a “privacy first” social discovery platform that helps anyone privately locate, connect with, and grow new connections with other people that share similar demographics, backgrounds, interests, beliefs, health, life experiences, and much more – whether they are around the corner or around the globe. The company was founded by start-up company veterans from Apple, AOL, Advertising.com, and Millennial Media. Interested investors may contact invest(at)samegrain(dot)com for more information. SameGrain is a privately held company and is currently headquartered in Baltimore, Maryland. SameGrain™ is a registered trademark of SameGrain, Inc. For more information visit http://www.samegrain.com.
The mission of the Anne Arundel Economic Development Corporation is to support business and serve as a catalyst for business growth in Anne Arundel County thereby increasing job opportunities, expanding the tax base and improving quality of life.