Missouri Technology Corp. Invests $6.1M in Startups, Including Funding for Two Cortex-Connected Companies

The Missouri Technology Corp. will make over $2 million in equity-based investments in its latest funding round, and said it will increase its maximum investments in the next funding round.

The public-private partnership, created by the Missouri General Assembly, focuses on fostering entrepreneurship in the state.

MTC said Tuesday that its board approved the funding for eight startups – seven of which are based in St. Louis – in its April investment award cycle through MTC's IDEA Fund. MTC's Innovation, Development and Entrepreneurial Advancement, or IDEA, fund is a state-sponsored venture capital initiative that uses public funding from Missouri and the federal government, according to the MTC website.

Through MTC's Venture Capital program for Series A or later-stage companies raising $5 million to $20 million, funding was awarded three startups including:

• SweetSpot, of St. Louis, uses device data to improve diabetes care, providing virtual continuous glucose monitor device monitoring and enhanced patient care through a centralized software platform and clinical support services from certified diabetes care and education specialists (CDCES). SweetSpot is BioGenerator-supported and a Cortex District member.

• SentiAR, a St. Louis-based startup, developed a system that generates interactive 3D holographic visualizations, providing physicians with a holographic guidance system for invasive cardiac procedures. SentiAR is BioGenerator-supported and a WashU IP startup.