Fund’s second investment continues its focus on Wisconsin-based innovators
MADISON, WI Aug. 20, 2021 – The Winnow Fund, a venture capital fund focused on investing in Wisconsin-based seed-stage companies, has invested in Wauwatosa-based RoddyMedical, Inc. as part of a seed-financing round that will finance the manufacturing and product launch of the firm’s wearable medical device, the SecureMove-TLC™. The financing round totaled $600,000 and also included the Winnebago Seed Fund. Both the Winnow Fund and the Winnebago Seed Fund are among the Badger Fund of Funds venture capital firms.
“Lindsey Roddy’s years of firsthand clinical experience and connections have driven the product and team forward and ensured that the product design meets the needs voiced by frontline healthcare workers,” said Richelle Martin, managing director of the Winnow Fund. “This is the kind of innovation we search for; the product and team are a win-win for the state of Wisconsin and our investors.”
Roddy, a registered nurse, developed the idea for the SecureMove-TLC™ after almost losing one of her patients in the ICU due to a medical tubing hazard. After being unable to find anything on the market that could have prevented this problem, and hearing from other nurses this was not an isolated incident, Roddy began to design something that would prevent this from ever happening again.
The SecureMove-TLC™ is a wearable, single-use medical device designed to organize and secure different types of medical tubes, IV lines, and cords to support patient therapy efficiency, improve IV medication safety. The patent-pending tension mitigation is designed to eliminate hazardous pulling and line/cord dislodgement during therapy, transport, and patient movement.
RoddyMedical is the Winnow Fund’s second investment. The fund’s investment phase began in January 2021, after closing on just over $10 million in capital commitments in December. It expects to announce additional investments in other Wisconsin-based companies in the coming weeks focused on very early-stage companies.