Ben Franklin Technology Partners of Northeastern Pennsylvania this morning announced nearly $600,000 in funding for regional economic development.
Among the investments, it provided a $150,000 loan to Cerora Inc. in Bethlehem to help develop and commercialize the company’s first product, a cloud-based software-as-service neurodiagnostic solution.
The product, called MindReader, is a portable electroencephalogram brain wave biosensor that measures the electrical activity of the brain. It combines advancements in electroencephalogram design with cognitive and voice-based data streams, all integrated with software to provide real-time, objective neurodiagnostic information in the field.
Ben Franklin also provided a $100,000 loan to Map Decisions in Bethlehem for development of field mapping and data management services.
The company’s secure, cloud-based mobile platform is designed for state and local governments, utilities, oil and gas, transportation and construction industries.
Other investments include a $50,000 loan to XiGo Nanotools in Bethlehem, a $25,000 loans to Skaffl LLC in Allentown and Orbweaver Sourcing in Bethlehem and a $21,100 loan to Pivitec LLC in Bethlehem.
In addition it offered 1-to-1 matching funds for two established companies.
It gave $22,350 to Cambridge-Lee Industries LLC of Ontelaunee Township in Berks County and $10,000 to Georg Fisher Harvel LLC in Easton.