BUFFALO — An Ithaca startup is among the Upstate companies that LaunchNY has invested in. Ithaca-based CareTech Human is one of three companies to receive $175,000 from LaunchNY, which also invested in Rochester-based Telos Air and Buffalo-based Edenesque. CareTech has developed a small device that users can place above their heads. […]
BUFFALO — An Ithaca startup is also among the upstate companies that Launch NY has invested in. Ithaca’s Caretech Human is one of three companies to use $175,000 from Launch NY. The company has also invested in Rochester’s TelosAir and Buffalo’s Edenesque. Caretech developed a small device that users can place above the toilet’s water level to provide continuous health monitoring for urological conditions. In all three cases, Launch NY’s contributions included $75,000 from the nonprofit seed fund and $100,000 from Launch NY Seed Fund II, a new for-profit limited partner fund that began investing in 2023. Buffalo-based Launch NY sees these investments as “continuing the pace that has made it the state’s most active seed fund by investing from both nonprofit and for-profit InvestLocal lending programs,” according to the announcement. The nonprofit Launch NY is a venture development organization that operates in 27 western-most counties in upstate New York. Since its founding in 2012, Launch New York has served more than 1,600 companies that have raised more than $1.4 billion in funding, generated more than $250 million in annual revenue, and created more than 5,100 jobs, according to a May 29 announcement.
“We are pleased to welcome these exciting new companies to the Launch NY portfolio, especially as they enter commercial production and begin to roll out their innovative products,” said Marnie LaVigne, president and CEO of Launch NY. “These investments represent our region’s belief and experience that by injecting seed-stage capital into upstate New York startups, they can create market-leading products that are competitive not only locally, but nationally and beyond.”
About Caretech Human
Based out of Cornell University’s Life Science Venture Center business incubator, Caretech Human’s non-invasive, “passive” monitoring system has “tremendous potential” to screen and detect diseases earlier than diabetes, according to a Launch NY announcement. Launch NY’s $175,000 investment in the company will allow it to enter commercial production in preparation for market entry. Caretech Human is led by CEO Dan Matsui, who said his company will “bring a new standard of care to the field of urology.” “In some health areas, patients have tools to self-monitor at home, such as blood pressure monitors, cardiovascular devices, and glucose meters. But in urology, patients lack a convenient way to assess symptom severity or disease progression at home,” Matsui said in the Launch NY announcement. “Launch NY’s funding allows us to focus on our goals at this exciting time, and we are pleased to begin manufacturing and selling our device.”
