BUFFALO — A fledgling Ithaca business is among the Upstate companies in which Launch NY has invested. Caretech Human in Ithaca is one of three companies that will use $175,000 from Launch NY. It also invested in TelosAir in Rochester and Edenesque in Buffalo. Caretech has developed a small device that users can install above […]
BUFFALO — A fledgling Ithaca business is among the Upstate companies in which Launch NY has invested.
Caretech Human in Ithaca is one of three companies that will use $175,000 from Launch NY. It also invested in TelosAir in Rochester and Edenesque in Buffalo.
Caretech has developed a small device that users can install above the waterline in their toilet bowl, providing continuous health monitoring for urology diseases.
In all three cases, Launch NY contributions included $75,000 coming from its nonprofit seed fund and $100,000 from the Launch NY Seed Fund II, a new for-profit limited partner fund that started making investments in 2023.
The Buffalo–based Launch NY sees the investments as “continuing the pace that has made it the most active seed fund in the state by investing from both its nonprofit and for-profit InvestLocal financing programs,” per its announcement.
The nonprofit Launch New York, Inc. is a venture-development organization that operates in the 27 westernmost counties of upstate New York. Since its inception in 2012, Launch NY has served more than 1,600 companies which have gone on to raise more than $1.4 billion, generate more than $250 million in annual revenue and supporting more than 5,100 jobs, per its May 29 announcement.
“We are pleased to bring exciting new companies into the Launch NY portfolio, especially as they prepare to enter commercial manufacturing and begin to truly scale their innovative products,” Marnie LaVigne, president and CEO of Launch NY, said. “These investments represent our region’s belief and experience showing that putting seed stage capital into these Upstate New York startup companies can create market-leading products competitive not only on a local, but national scale — and beyond.”
About Caretech Human
Based at Cornell University’s Center for Life Science Ventures business incubator, Caretech Human’s non-invasive, “passive” monitoring system has “enormous potential” to create screening and early-detection for diseases that affect more people than diabetes, per the Launch NY announcement. Launch NY’s $175,000 investment into the company will allow it to enter commercial production in preparation to enter the market.
Caretech Human is led by CEO Dan Matsui, who said his company is bringing a “new standard of care in the urology field.”
“In some health domains, patients have tools for self-monitoring at home such as blood pressure devices, cardio holders, or glucometers. However, in urology, there is no convenient way to assess the severity of symptoms and disease progression at home,” Matsui said in the Launch NY announcement. “Launch NY funding helped the company stay focused on its goals during this exciting time, and we’re excited to begin manufacturing and selling our device.”
