WEST CHESTER (September 9, 2020) – Two early-stage companies in Chester County will receive $350,000 in total investments from the Ben Franklin Technology Partners of Southeastern Pennsylvania, state Senator Andy Dinniman announced.
Aevumed, located in Malvern, is a medical device company that is on a mission to enhance the quality of life in patients with rotator cuff tears.
Metispro, located in Berwyn, provides a cloud-based point of sales (POS) and e-commerce platform for restaurants, including tools that track reservations, loyalty, kiosks, self-service, and online ordering.
“Chester County is at the forefront of technological advancement in our region and these promising young companies show that the spirit of innovation is alive and well in Southeastern Pennsylvania,” Dinniman said. “With support and investment, they will continue to grow, strengthening our economy and creating jobs in the process.”
Aevumed’s Phantom-X is a technology that specifically targets the 20 percent failure rate of rotator cuff surgeries through biomechanical support. In addition to Aevumed’s unique FDA-cleared products, its proprietary technologies help enable tendon repair surgeries to be cost-effective, simple, and faster than industry standards.
Metispro provides a simple and smart POS system to restaurant and retail businesses, featuring intuitive ways to track sales, manage customer data, and monitor the business with intelligent reporting. Metispro POS is tailored to fit the needs specific to the business using it. Integrated tools come with the system to make it efficient as well as easy to run the frontend or backend of the business, including, but not limited to, customizable reports and analytics and SMS alerts.
In addition, last month, the Ben Franklin Technology Partners of Southeastern Pennsylvania announced an investment in Cassian Solutions, a Phoenixville-based digital health company that aims to help healthcare teams deliver efficient, scalable and data-driven patient interactions. Cassian’s platforms fill the critical gaps in the specialty patient journey through automated and individualized patient engagement that improves compliance and patient reporting, and helps patients stay on therapy.
The Ben Franklin Technology Partners of Southeastern Pennsylvania is a state-funded nonprofit that serves as one of several technology company incubators throughout the Commonwealth.
Each Ben Franklin investment follows a detailed review process in which reviewers carefully work with companies to understand their business model, products, and market. They work with each company to provide access to the capital, counsel and connections that can best support their growth after investment, helping them address opportunities and challenges throughout their journey.
These efforts produce a return of $3.90 in tax revenue to Pennsylvania for every dollar committed by Pennsylvania. In 2019, the Ben Franklin Technology Partners approved $4.6 million in investments in 28 companies throughout Southeastern PA, creating and retaining over 3,000 jobs while securing over $260 million in follow-on funding to support their growth.
Dinniman serves on the Board of the Ben Franklin Technology Development Authority, which manages and oversees the Ben Franklin Technology Partners.