Ben Franklin Technology Partners of Northeastern Pennsylvania said it has approved $2.3 million in investments for the first quarter of Fiscal Year 2024. A total of 10 innovative companies, including eight startups and two manufacturers, received funding. 

 Ben Franklin will make $610,000 in investments to early-stage companies. 

 Among those receiving funds is iDEAL Semiconductor of Bethlehem, which will receive $500,000 to help develop silicon-based, power semiconductors that handle higher voltages that are increasingly demanded by servers, AI computers, and electric vehicles.

Learnics of Easton will receive $100,000 to help the with the development of a software-as-a-service (SaaS) platform that provides an analytics dashboard allowing teachers to see individual and class wide data and gives students the ability to record and submit a record of their online activity for specific assignments.  

GaudiumAI (dba GoCharlie.ai) of Allentown will receive a $500,000 Investment. 

GoCharlie.ai is commercializing artificial intelligence (AI) applications for small and medium businesses to allow for the automated creation of customized marketing content.

Mussel Polymers of Bethlehem will receive a $500,000 Investment. 

Mussel Polymers develops water-resistant/waterproof adhesives that mimic the chemistry used by mussels for a variety of applications where adherence in wet conditions is required. Products are used for a range of industries including coral reef restoration, defense and aerospace, biomedical and dental, and industrial. $50,000 will be invested in the following manufacturers, provided in 1:1 matching funding for work with a college or university partner. 

Ben Franklin will also be investing $50,000 with manufacturers to work with a college or university partner.  

Levan Machine & Truck Equipment Fleetwood will receive $25,000. The investment supports an operations analysis to identify opportunities for process improvement and growth. Levan Machine & Truck Equipment will partner with Alvernia University on this project. 

 Universal Compressed Air Center Valley, Lehigh County will also receive $25,000.  The company, which manufactures compressed air systems for industry. The investment will support the development and implementation of a computerized maintenance management system (CMMS) to increase efficiency and customer service. UCA will partner with Lehigh University on this project.

Author: Stacy Wescoe

Publication: Lehigh Valley Business

Link: Ben Franklin approves $2.3M in investments - LVB