Three Woburn Start-Ups Awarded MassVentures Funding

WOBURN, MA — Three Woburn start-up companies will now have some additional capital to operate with, as the companies have been awarded grant funding from MassVentures, the venture capital firm announced on Aug. 23.

The three start-ups were announced as winners of MassVenture's 2016 START program, which awarded 17 Massachusetts companies with a combined $3 million in grant funding. Winners were broken into three stages of funding; eight Stage 1 winners received $100,00 in funding, five Stage 2 winners received $20,000 and two Stage 3 winners received $500,00, among the 15 winners published in MassVenture's announcement.

The Woburn-based Levant Power Corporation and Modular Genetics, Inc. were awarded $100,000 in funding. Woburn-based Primaira, LLC was awarded $20,000 in funding.

Modular Genetics, Inc. located at 12 Cabot Rd. utilizes a prorietary automated gene engineering system to create new products in the fields of pharmaceuticals, biotechnology and therapeutics.

“START funding will enable Modular to scale up our work on using synthetic biology to create surfactants for cleaning products without using oil as a raw material and without creating toxic by-products," said CEO Kevin Jarrell in a press release. "After searching extensively for support for this critical phase of the project, Modular was thrilled to learn that the START program will provide the funding needed to launch the scale-up effort, which is the next step on the path to commercialization of these renewable chemicals.”

Levant Power Corporation, located at 475 Wildwood Ave., specializes in producing unique automotive suspension systems sensors for cars and trucks.

“The START program grant is allowing Levant Power to make investments in building a pilot production line in Boston to produce our advanced automotive technology products for global customers. We are already aggressively hiring to staff the effort,” said Zackary Anderson, Chief Commercial Officer in a statement.

The Stage 2 funding from MassVentures will allow Primaira, LLC to launch its Bluezone® Air Cleaning Technology.

The Mass Ventures START program has enabled us to launch our Bluezone(R) residential air cleaning business, by funding the transition of the technology we developed for the US military into a best-in-class consumer product. The START program has allowed us to turn a well-established business model on its head: we will manufacture a world class product in Massachusetts and sell it to Chinese consumers who need better technology and a trustworthy brand to protect their health from their infamous air pollution,” said Managing Partner Karen Benedek in a statement. “Not only has the START program provided us funding, it has given us access to a community of businesses in Massachusetts that supports and inspires innovation. This critical program has provided us the funding and credibility we need to attract the further investment and financing to create a robust manufacturing business in Massachusetts.”

Image via MassVentures press release