MākuSafe Secures Investment from InnoVenture Iowa: A Major Boost for Wearable Tech
August 19, 2024
MākuSafe is thrilled to announce that it has received significant investment from InnoVenture Iowa, the state’s first publicly-funded venture capital fund. This marks a pivotal moment for MākuSafe as we continue to innovate and enhance our wearable technology designed to improve safety for laborers across various industries.
The story behind InnoVenture Iowa
InnoVenture Iowa emerged from a crucial need to revitalize the state’s economy post-pandemic. In 2022, Iowa received $96 million from the US Treasury through the State Small Business Credit Initiative (SSBCI). This funding was part of a broader effort to help states recover from the economic impacts of the COVID-19 pandemic.
It was a collective effort of countless hours and the dedication of many hardworking Iowans that brought InnoVenture Iowa to fruition. The fund was established in collaboration with the Iowa Economic Development Authority and Bioconnect Iowa, and it was formally launched in October 2022. By November of that year, InnoVenture Iowa began making its initial investments, aiming to bolster the state’s startup ecosystem.
Supporting Iowa’s entrepreneurs
To date, InnoVenture Iowa has invested in 22 startups, deploying just over $6 million in venture capital investments. These investments are designed to support innovative companies with the potential to make significant economic contributions and drive technological advancements in Iowa and beyond.
MakuSafe is honored to be among the recipients of InnoVenture Iowa’s support. This investment will enable us to accelerate our mission of enhancing workplace safety through advanced wearable technology. Our devices are designed to collect and analyze environmental and human motion data, providing real-time insights that help prevent workplace injuries and improve overall safety.
A promising future for MākuSafe
With the backing of InnoVenture Iowa, MākuSafe is poised to make significant strides in the wearable tech industry. This investment will support the development of new features, the expansion of our product line, and the strengthening of our market presence. More importantly, it will enable us to continue our work in making workplaces safer for laborers, ultimately leading to fewer accidents and a healthier work environment.
The support from InnoVenture Iowa is not just an endorsement of our technology, but also a recognition of the importance of workplace safety. As we look to the future, we are excited about the possibilities that this partnership will bring and are committed to making a positive impact in Iowa and beyond.
