Maryland’s economic engine for technology companies, announced earlier this month that its Builder Fund invested $150,000 in AudioOne, Inc., a technology start-up based in Bethesda. TEDCO’s Builder Fund invests in and provides executive support to Maryland-based technology companies run by entrepreneurs who demonstrate economic disadvantage.
“We greatly appreciate TEDCO’s investment in our team and exciting new techology,” said Mark McMahon, CEO of AudioOne. “TEDCO’s funding support and resources will help AudioOne on our mission to bring personalized radio listening experiences to consumers in Maryland and across the country.”
AudioOne, Inc., based in Bethesda, and founded by Mark McMahon and Antonio Bray, integrates different artificial intelligence platforms to bring its members a more complete, personalized radio listening experience. Its interface ‘learns’ topics of interest then curates and summarizes news and podcasts based on that knowledge. It will then deliver an audio playlist or session based on the user’s desired content with or without the user’s favorite music.
“We’re excited to invest in AudioOne, an important addition to the technology entertainment industry, a sector which has seen significant growth over the last few years,” said Jean-Luc Park, senior director of Social Impact Funds at TEDCO. “AudioOne and its new technology proved to be an excellent candidate for the Builder Fund, and we encourage other Maryland entrepreneurs in the tech space to connect with TEDCO about resource and funding opportunities.”
For entrepreneurs applying for their first investment from TEDCO’s Builder Fund, their company must be based in Maryland and led by an economically disadvantaged founder(s).
For information on how to access TEDCO’s Builder Fund investment application, visit https://www.tedcomd.com/funding/builder-fund.