Wearable tech platform Strap locks in to $1.25m of seed investment
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Strap, the Cincinnati-based wearable technology software and analytics platform, has announced it has raised $1.25 million in seed investment.
The round of funding was led by CincyTech, with Mercury Fund, Vine Street Ventures, Danmar Capital, Hyde Park Venture Partners and New Coast Ventures among others contributing.
“Strap has created an important layer of software that has to exist for wearable tech to work,” said Mike Venerable, CincyTech managing director. “Developers need it, big companies need it. It allows developers to focus on functionality for the end user.”
Strap, like many tech startups in the area, started life as part of The Brandery, a seed stage accelerator hub in Cincinnati. The founders of the company, Steve Caldwell and Patrick Henshaw, moved from Mississippi to Cincinnati to ride this wave.
“The startup community is strong here and has been validated,” said Henshaw, citing the likes of Node.js platform Modulus, recently bought out by Progress Software, and road trip planning product Roadtrippers. Two Modulus co-founders, Charlie Key and Brandon Cannaday, act as advisors to Strap. ”What really attracts us to Cincinnati is the energy around the startup tech community, which is attracting money and talent,” Henshaw added.
Time will tell, of course, if Strap will consider the same path.
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