Bethesda Technology Company Gets $150K In Funding From Maryland

BETHESDA, MD — The Builder Fund of the Maryland Technology Development Corporation, or TEDCO, has invested $150,000 in AudioOne Inc., a technology company based in Bethesda that has developed a personalized radio app.

TEDCO’s Builder Fund invests in and provides executive support to Maryland-based technology companies run by entrepreneurs who demonstrate economic disadvantage.

“We greatly appreciate TEDCO’s investment in our team and exciting new technology,” Mark McMahon, CEO of AudioOne, said in a statement. “TEDCO’s funding support and resources will help AudioOne on our mission to bring personalized radio listening experiences to consumers in Maryland and across the country.”

AudioOne, founded by McMahon and Antonio Bray, integrates different artificial intelligence platforms to bring its members a more personalized radio listening experience.

“We’re excited to invest in AudioOne, an important addition to the technology entertainment industry, a sector which has seen significant growth over the last few years,” said Jean-Luc Park, senior director of Social Impact Funds at TEDCO.

“AudioOne and its new technology proved to be an excellent candidate for the Builder Fund, and we encourage other Maryland entrepreneurs in the tech space to connect with TEDCO about resource and funding opportunities,” Park said.

For entrepreneurs applying for their first investment from TEDCO’s Builder Fund, their company must be based in Maryland and led by an economically disadvantaged founder. For information on how to access TEDCO’s Builder Fund investment application, visit https://www.tedcomd.com/funding/builder-fund.