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Two Baltimore startups awarded $600,000 under InvestMaryland; Bambeco awarded $400,000

11/13/2012

Maryland awarded $1.1 million in three startups as part of a new venture capital program.

Maryland has invested $1.1 million in three startups, including two in Baltimore, as part of the state’s new venture capital program.

The awards announced Tuesday:
• $400,000 to Bambeco, an eco-friendly home decor and furniture retailer in South Baltimore

The investments were part of InvestMaryland, which in March raised $84 million through an insurance tax auction to invest in seed and early-stage companies in the state.

The program is being administered through the Maryland Venture Fund Authority and the state’s Department of Business and Economic Development.

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