CNSI Incubator Member Milo Sensors wins 1st place at UC Startup Showcase
Milo Sensors, a Santa Barbara tech-startup focused on biochemical-sensing wearables was awarded 1st place honors and a $75,000 investment at the Vertical Venture Partners 2018 University of California Startup Showcase. The company can add this investment to their growing war chest of funding, including $100,000 from the National Institute of Health and $223,000 from National Institute of Alcohol Abuse and Alcoholism to support Small Business Innovation.
The company is using these funds to develop their patented alcohol-sensing ION™ Platform, which includes a small, wrist-worn biosensor and mobile app that provides self or supervised monitoring of alcohol consumption to improve drinking habits or help individuals live well by not drinking alcohol.
“Our technology represents a monumental leap forward in the wearable technology industry, beyond step-counting and blood pressure to non-invasive biochemical sensing. We are excited to be pushing the envelope of what is possible on this front.”
- Bob Lansdorp Ph.D., CTO
About the VVP 2018 UC Startup Showcase
The UC Startup Showcase provides an opportunity for emerging companies to showcase their innovation and explore partnership and strategic funding opportunities with leaders in the technology industry. Entrants were evaluated on aspects such as team, market opportunity, differentiation, development, IP status, and traction. Milo Sensors was selected from nearly 100 executive summaries and 18 final pitch presentations.
The funds will accelerate commercialization of their wearable sensor technology, and fuel future expansion of their patented platform sensor technology. Milo Sensors' CEO, Evan Strenk, commented, "We are thrilled to have Vertical Venture Partners on board. Their focus on enterprise customers, established UC relationships, and deep founder experience will add tremendous value as we scale."
About Vertical Venture Partners
Vertical Venture Partners (“VVP”) is a Silicon Valley-based venture capital firm founded in 2015 by Dave Schwab, a 20-year veteran in early stage technology investing. VVP focuses on making Seed and Series A investments in B2B technology companies targeting pain points in specific vertical sectors as opposed to those providing horizontal technologies to many industry sectors. The VVP team has decades of operating and investment experience gained from diverse backgrounds in venture capital, research & development, investment banking and advanced technology.
About Milo Sensors
Milo Sensors was founded in 2015, shortly after winning the UC Santa Barbara New Venture Competition, with the mission to develop non-invasive biosensors for health and wellness applications. The company resides in UC Santa Barbara's California Nanosystems Institute Incubator with 24/7 access to laboratory and office space, as well as state-of-the-art instrumentation. has received national recognition from the National Institutes of Health/National Institute of Alcohol Abuse and Alcoholism, winning a $100,000 “Wearable Alcohol Biosensor” Challenge Prize in 2016, and receiving a $223,000 Small Business Innovation Research Grant in 2017.