A Maryland startup aiming to bring nanotechnology to the wearable tech space has earned a $25,000 investment from Maryland Technology Development Corp., to help it move closer to market.
Nanobiofab, founded in 2016, creates wearable nanomaterial-based technologies using customized inkjet printing techniques. The nanotech products created can be used to detect minute molecules emitted from the skin for real-time tracking of biological indicators like fat consumption, and potential disease diagnosis. Nanbiofab is targeting the health technology space with its first nano products.
The company is one of the newest portfolio members of TEDCO's Rural Business Initiative, a program aimed at growing startups that are based in non-urban areas of the state. It is one of two startups based in the non-profit business incubator Frederick Innovative Technology Center Inc. to be accepted into the program. GOEFER, a Frederick startup that develops smart power strips to help save money and energy, also recently earned state funding support through TEDCO.
CEO Xiaonao Liu said she plans to use the new funding to finish Nanobiofab's first prototype wearable fitness tracking device, and manufacture about 30 to 50 units that could be used to collect data in volunteer trials. She said the company is also negotiating with some other investors to raise a larger round this year, as it works to bring its first nanotech products closer to market.
Liu is a former material synthesis specialist at California Institute of Technology. Her company is supported by about seven team members and six advisers. It has multiple patents pending in the U.S. for its technology.
There are lots of scaling opportunities and applications for the company's nanotech, Liu said. After the first fitness device is launched, Liu said she also plans to work on a second health monitoring-type device, as well as a device that could act as a real-time monitor for patients diabetes.