Modjoul Receives SC Launch, Inc. Investment
SUMMERVILLE, S.C.--(BUSINESS WIRE)--Mar 12, 2019--Modjoul, a Clemson-based IT company, recently received a $200,000 investment from SC Launch, Inc. This marks the second investment for the company since being accepted into SCRA’s entrepreneurial program, SC Launch, in December 2016.
Modjoul used the initial $250,000 SC Launch, Inc. investment for development and manufacturing of the company’s wearable, low profile SmartBelt. The SmartBelt provides insight into employees’ safety and performance. Modjoul currently has over 75 clients who are leveraging the information collected on employees to reinforce safety initiatives and better understand operations. The most recent investment will be used to scale the sales organization and develop derivative Software as a Service products.
“We are grateful to SCRA and SC Launch, Inc. for the second investment in Modjoul,” said Jen Thorson, Chief Operating Officer and Founder, Modjoul. “We have not only been able to hire a fantastic team locally, but many of our strategic clients are in South Carolina as well. We look forward to continuing to grow our company in South Carolina.”
“Modjoul is collaborating with a variety of industries to provide an innovative solution for their workforce to keep employees safe,” said Jill Sorensen, SCRA’s Director of Entrepreneurial Programs and Executive Director of SC Launch, Inc. “The company’s SmartBelt, their first product, is creating safer workplaces and providing insights on an organization’s risk.”
SCRA is a state-chartered organization that fuels job creation and grows South Carolina’s innovation economy. Through SC Launch, early-stage companies are provided mentoring and grants and may be eligible for an investment from SC Launch, Inc. The SC Launch program is open to qualified South Carolina companies in the Advanced Materials/Manufacturing, Information Technology and Life Sciences sectors.
Chartered in 1983 by the State of South Carolina as a public, non-profit corporation, SCRA fuels South Carolina’s Innovation Economy by supporting entrepreneurs, enabling academic research and its commercialization, and connecting industry to innovators.
About SC Launch, Inc.
Established in 2006, SC Launch, Inc. is an independent, non-profit corporation affiliated with SCRA, which provides loans and investments to selected South Carolina-based companies participating in the SC Launch program.
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CONTACT: Jessica Cokins
KEYWORD: UNITED STATES NORTH AMERICA SOUTH CAROLINA
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PUB: 03/12/2019 09:00 AM/DISC: 03/12/2019 09:01 AM