Keyhorse Capital, in partnership with the Kentucky Cabinet for Economic Development’s statewide #KYInnovation program and as an initiative of Kentucky Science and Technology Corporation (KSTC), has announced that its current quarterly investment cycle is open through March 31st for eligible companies.
The windows for each quarterly investment cycle are:
- January 1 - March 31
- April 1 - June 30
- July 1 - September 30
- October 1 - December 31
Through the Kentucky Enterprise Fund and the Kentucky Growth Capital Fund, Keyhorse Capital and the Commonwealth of Kentucky have been investing in the future of Kentucky since 2002, leveraging over $76.3 million to support 266 Kentucky companies.
These funds make early-stage and growth-stage venture capital investments in high-growth startups and entrepreneurs based in or interested in relocating to Kentucky. Companies must be in the process of building an innovative, technology-enabled product, process, or service; have developed a prototype, be seeking product-market fit, or entering an early growth stage of development; and present a well-articulated market opportunity with some level of customer validation and a strong founding team.
In the fourth investment cycle of 2024, Keyhorse Capital announced $5.4M of investments in companies that included:
- Ecoshell: Manufacturer of sustainable, eco-friendly packaging solutions made from natural materials.
- Fixle: Software platform for home system and appliance management offering homeowners, inspectors, and property managers access to model and serial numbers, manuals, recall alerts, instructions, and service.
- Flamel AI: AI-driven content design studio for marketing content.
- FlyWire (WearWare): Video technology that translates fishing data into catch tracking, monitoring, & reporting
- Fooji: Developer of a platform that allows brands to reward their customers with physical items, such as food, merchandise, or care packages, in response to social media interactions.
- Hempwood (Fibonacci): Manufacturer of high-strength hemp-based sustainable building materials
- IribaMaps: Platform that connects essential workers with employers, providing tools for job matching and workforce management based on geographic needs.
- Kanbol: Developer of proprietary pulping technology that transforms agricultural fibers into molded fiber containers
- PCC Hydrogen: Catalysts focused on hydrogen fuel reforming applications
- PowerTech Water: Manufacturer of water treatment technology designed to give water-intensive industries access to clean water and/or cleaner outputs and waste streams.
- Swell Health (Sage Health Labs): Developer of tech-enabled therapy for military families.
- Value Buddy: Software platform for business valuation, benchmarking, and appraisal.
- Wicked Technologies (Wicked Sheets): Bedding and sleep products that detect and mitigate issues associated with excess moisture.
In 2024, Keyhorse Capital invested a total of $16.8M in Kentucky companies. Additional investments for 2024 investment cycles included:
- AboutBit: Provider of hosting infrastructure and load modifying resource (LMR) solutions including “curtailable load” applications such as cryptocurrency mining & LLM model training.
- ADEM Technologies: Manufacturer of nanowire-based catalyst and adsorbent products for liquid fuels and natural gas.
- Affinna (The Real Seat): Simplified ticketing platform software for businesses and event organizers.
- Airtrek Robotics: Developer of autonomous mobile robots that enable complete automation of airport ground operations.
- ALT Distilling: A low and non-alcoholic beverage development company.
- Aurasense Tech Corporation: Developer of an easy-to-use AI-powered neurology assistant that automates qualitative neurology exams.
- Avana Health: Intrauterine delivery platform for treating Abnormal Uterine Bleeding (AUB) and Postpartum Hemorrhage (PPH).
- Bailout Systems: Developer of the world’s smallest, hands-free descent device, enabling a user to anchor, jump, and lower to the ground safely without any additional input.
- Besti Co.: Developer of a synchronizable period care solution platform offering a subscription box business model.
- Bexion Pharmaceuticals: Targeted oncology therapy platform intended to aid in the fight against cancer.
- BioGlitz: Developer of a biodegradable materials product line that includes a high-quality plant-based shine for the fashion industry.
- Biscuit Belly (DGB Tenn): Fast-casual breakfast restaurant franchising concept.
- Brite Trace (Birthwrite Technologies): Healthcare SaaS platform that empowers caregivers serving individuals diagnosed with dementia.
- CleanSpace Corporation: Developer of a SaaS platform designed to help cleaning companies streamline their operations, improve efficiency, and deliver a better experience.
- Deepshot (Deepshot Labs): Developer of a customizable dialogue generation and replacement software, allowing users to easily create professional-looking videos.
- DesiCorp: Developer of a transfusable blood product for medical providers utilizing freeze-dried red blood cells.
- Devyze: A collaboration platform that empowers marketing and business development teams to collaborate on project proposals and RFP responses.
- Ecoshell: Manufacturer of sustainable, eco-friendly packaging solutions made from natural materials.
- EZ-Chow: Multi-channel digital ordering platform for the restaurant and food service industry.
- Feedcoyote: B2B/B2C freelance collaboration network and project management platform.
- Fixle: Software platform for home system and appliance management offering homeowners, inspectors, and property managers access to model and serial numbers, manuals, recall alerts, instructions, and service.
- Flamel AI: AI-driven content design studio for marketing content.
- FlyWire (WearWare): Video technology that translates fishing data into catch tracking, monitoring, & reporting.
- Fooji: Developer of a platform that allows brands to reward their customers with physical items, such as food, merchandise, or care packages, in response to social media interactions.
- Forecastr: Developer of an online tool allowing companies to forecast the cash flow of their companies.
- Garnet Gazelle: Innovative auction platform focusing on consumer products and offering digital acquisition, tracking, and notification tools.
- GoodMaps: Indoor digital mapping platform improving the accessibility, safety, and productivity of indoor spaces.
- GoWild (GoWild Alpha): Activity-based social commerce platform for outdoor enthusiasts.
- Hempwood (Fibonacci): Manufacturer of high-strength hemp-based sustainable building materials.
- HuMed Technologies: Developer of novel ingredients for skincare products to enable improved stability, delivery, loading, and effectiveness.
- Immersive Hearing Technologies (Immersive Audiology): Developer of a virtual reality software application that lets a patient "test drive" what hearing aids will sound like in real-life settings.
- IribaMaps: Platform that connects essential workers with employers, providing tools for job matching and workforce management based on geographic needs.
- Kanbol: Developer of proprietary pulping technology that transforms agricultural fibers into molded fiber containers.
- Kidvestors: Developer of financial curriculum software for K-12 students.
- Kyndly Benefits (Kyndly Technologies): Developer of an automated health insurance decision support & enrollment assistance platform.
- Limitless Minds: Developer of a mental fitness platform for sales professionals.
- Louisville Vegan Jerky Co.: Manufacturer of jerky and toppings made from non-GMO certified whole soybeans, paired with freshly sourced combinations of flavor.
- Lullafeed (Innovative Therapeutix): Developer of technology to help parents and feeding specialists support babies through feeding progression and development.
- Narratize: Developer of an AI-driven platform designed to enhance and streamline the creation of high-quality content for enterprises.
- NonBinary Solutions Corporation: Clinical decision support system software for autism service providers.
- Organilock: Offers soil amendments and plant food products designed to prioritize soil microbial life and promote soil health.
- Parasight System: Fecal egg count system intended for animals; quantitative diagnostic and management tools for veterinarians and animal industry professionals.
- PCC Hydrogen: Catalysts focused on hydrogen fuel reforming applications.
- PDX Biotech: Rapid test products for periodontal disease for the dog and cat veterinary market.
- PONTIS: Developer of a psycholinguistic software platform to improve marketing and instructional communication.
- PowerTech Water: Manufacturer of water treatment technology designed to give water-intensive industries access to clean water and/or cleaner outputs and waste streams.
- PreventScripts (Personal Medicine Plus): Developer of a health management platform and remote patient monitoring for diabetes and hypertension.
- Purchaser Inc: Developer of a software platform that improves the overall purchasing efficiency of clients in the manufacturing industry.
- Ridgerunner Outdoors: Developer of an all-in-one automated SaaS-based enterprise-level commerce cloud connected to the only vertical e-commerce marketplace for outdoor brands.
- RiverGuide: Developer of a mentored pathway for student entrepreneurs that connects them with a curated network of venture-backed mentors and provides them with an AI-assisted software.
- Scoop Tech: Messaging platform designed to create close social groups for large or small audiences.
- Scrub Step: Manufacturer of a foldable step stool that saves kitchen space and helps kids wash their hands.
- Seamly Systems: Digital custom/tailored pattern platform for fashion designers.
- Smoove Creations: Digital design platform where users can customize different types of footwear.
- SoFab Inks: Developer of specialty materials used to accelerate the commercialization of perovskite solar cells.
- Soundspace Technology: Developer of a SaaS platform that manages all aspects of operations for shared spaces including booking, payments, memberships, financials, and more.
- Stuccco: Online interior design, virtual staging, and home goods platform.
- Swell Health (Sage Health Labs): Developer of tech-enabled therapy for military families.
- Thynk Health: Developer of a fully operational healthcare software suite that helps hospitals increase patient participation in their screening programs.
- To The Market (Survivor Made Goods): Information services platform providing sustainability and supply chain transparency data to businesses and retailers.
- UJoin: Developer of a platform designed to simplify grassroots policy advocacy.
- Untitled (Untitled Holding Company): Data pipeline management software for data source connectivity, visualization/reporting, and business intelligence/analysis.
- Value Buddy: Software platform for business valuation, benchmarking, and appraisal.
- Virtual Peaker, Inc.: A distributed energy resource management platform for electric utilities.
- Wicked Technologies (Wicked Sheets): Bedding and sleep products that detect and mitigate issues associated with excess moisture.
Keyhorse Capital and KSTC have partnered with KY Innovation and the Kentucky Cabinet for Economic Development to create an easy-to-navigate quarterly investment process for the state’s most promising startup companies. Together with an improved public application process and statewide communication strategy to increase access and the number of investment opportunities, Kentucky’s funds have seen a continued increase in award applications and reviews.
To learn more and apply for funding, visit: keyhorse.vc/
About Keyhorse Capital
Keyhorse Capital is a seed-stage venture capital firm focused on supporting a thriving community of entrepreneurs willing to go the distance to build and grow innovative companies. Keyhorse is focused on investing in early-stage companies based in Kentucky through a funding partnership with KYInnovation and KCED. Keyhorse Capital has provided financing to 266 companies. Their active portfolio of 148 companies has created more than 800 jobs and counting. Learn more at keyhorse.vc.
About KSTC
KSTC is a private, statewide non-profit corporation committed to advancing science, technology, and innovative economic development founded on Kentucky know-how. KSTC seeks to improve the capacity of people, companies, and organizations to build an innovation-driven economy in Kentucky. Learn more at kstc.org.
About KY Innovation
#KYInnovation is an initiative of the Kentucky Cabinet for Economic Development (KCED) that targets resources to support startups, traditional small businesses, and innovation-driven entrepreneurs across the business life-span with the aim of dramatically improving Kentucky’s entrepreneurship ecosystem and significantly increasing the number of new company startups annually. More about the Commonwealth of Kentucky’s investment and support for innovation can be found at kyinnovation.com.
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