OKAngel Sidecar Fund invests $300,000 in Sway Medical Technologies
Contact: Sarah Seagraves
i2E Vice President for Marketing
(405) 813-2403 or email sseagraves@i2E.org
The OKAngel Sidecar Fund, managed by i2E, Inc., recently closed a $300,000 investment in Tulsa, OK-based Sway Medical Technologies. The i2E managed fund participated in an investment round of $700,000 that included co-investment from Oklahoma angel investors.
Sway Medical is a mobile software company focused on the development of medical grade mobile applications that monitor patient outcomes in the field of orthopedics, geriatrics, and pharmacology while providing a better on-field assessment of concussion symptoms in athletes. The company’s initial product is the Sway Balance software, an FDA cleared balance system for stability assessment using existing hardware in a mobile device.
OKAngel Sidecar Fund is one of three Accelerate Oklahoma! investment vehicles created in 2011 by i2E through a partnership with the Oklahoma Department of Commerce and the U.S. Treasury State Small Business Credit Initiative. The OK Angel Sidecar Fund specifically targets opportunities to invest alongside Oklahoma angel investors.
The co-investment ratio with the federal funds upon closing exceeds 1:1 and subsequent investments and traditional financing are expected to result in a greater leverage ratio within five years.
About Sway Medical
Management: Chase Curtiss, CEO
Year started: 2011
Location: Tulsa, OK
About i2E, Inc.: With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses.