Launch NY’s new investments include startups in Ithaca, Rochester and Buffalo – Central New York Business Journal

BUFFALO — An Ithaca startup is among the upstate companies Launch NY has invested in. Caretech Human in Ithaca is one of three companies that will use $175,000 from Launch NY. It has 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 urological diseases. In all three cases, Launch NY’s contributions included $75,000 from its nonprofit seed fund and $100,000 from Launch NY Seed Fund II, a new limited partnership for-profit fund that began investing in 2023. Buffalo-based Launch NY says the investments “continue the momentum that has made it the state’s most active seed fund by investing in both its nonprofit and for-profit InvestLocal funding programs,” according to its announcement. The nonprofit Launch New York, Inc. is a business development organization that operates in the westernmost 27 counties of upstate New York. Since its inception in 2012, Launch NY has served more than 1,600 companies that have successfully raised more than $1.4 billion, generated more than $250 million in annual revenue and supported more than 5,100 jobs, according to its May 29 announcement.

“We are thrilled to welcome exciting new companies to Launch NY’s portfolio, especially as they prepare to enter commercial manufacturing and begin truly developing their innovative products,” said Marnie LaVigne, President and CEO of Launch NY. “These investments represent our region’s belief and experience that investing seed capital in these Upstate New York startups can create market-leading products that are competitive not only locally, but nationally – and beyond.”

About Caretech Human

Based at Cornell University’s Center for Life Science Ventures incubator, Caretech Human’s noninvasive, “passive” monitoring system has “tremendous potential” to create early detection and screening for diseases that affect more people than diabetes, according to the Launch NY announcement. Launch NY’s $175,000 investment in the company will help it move into commercial production and market entry. Caretech Human is led by CEO Dan Matsui, who said his company is bringing a “new standard of care to the field of urology.” “In some areas of healthcare, patients have at-home self-monitoring tools such as blood pressure monitors, heart rate monitors, or glucose monitors. However, in urology, there is no practical way to assess symptom severity and disease progression at home,” Matsui said in the Launch NY announcement. “The funding from Launch NY has helped the company stay focused on its goals during this exciting time, and we are excited to begin manufacturing and selling our device.”