RALEIGH – VitalFlo, a startup focusing on lung health analytics that has already developed a patent-pending mobile device, has landed a $75,000 investment from Virginia-based The Launch Place.
The pre-seed investment is the latest made by The Launch Place with more than $3 million being placed across 14 startups over the past four years.
VitalFlo’s device, called a spirometer, is part of the firm’s lung analytics platform. The device was developed to help asthma patients manage their condition in a reliable fashion.
Although launched only a year ago, VitalFlo’s team has already been showcased and won awards in startup events at N.C. State’s Lulu eGames as well as a NASA future contest and a Big Launch Challenge put on by The Launch Place.
“The Pre-Seed investment program is intended to help growing companies, like VitalFlo, expedite the development process, specifically in product and market validation and business model refinement,” said Eva Doss, CEO of The Launch Place. “This initial investment may become a precursor to our seed fund, where a larger round of early stage funding is available.”
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VitalFlo’s “management team is committed with a well thought out plan and they have established an excellent team of trustworthy advisers,” she added.
Its device was developed by company cofounder and Chief Technology Officer James Dieffenderfer [pictured above with the device] while he was an NCSU student.
Cofounder and CEO Luke Marshall says VitalFlo is also developing a lung health data repository.
The company expects to pursue Food and Drug Administration approval for the device over the next year.
The Launch Place also offers startups support such as business and administrative needs and introductions to potential partners as well as supporters and investors.