Rocket Ventures, the venture capital program of the Regional Growth Partnership, recently invested $500,000 in Turning Point LLC as a part of a Series A round of financing.
Turning Point, a biomedical company with University of Toledo headquarters, develops science based conditioning and rehabilitation solutions. Its first product, The Core Trainer, conditions 28 muscles, as well as numerous tendons and ligaments, using an electronic user interface and software monitor to manage custom routines and capture performance data.
As a part of the $500,000 Investment, Turning Point first received a $50,000 Rocket Ventures Ignite! Grant in March of 2009 for prototype development and refinement. Local companies Pinnacle Technlogies, Lockery Manufacturing and TTL Associates assisted in the enhancement of the Core Trainer prototype.
“Our investment in Turning Point reflects our view that there is a great opportunity in the fitness equipment/biotherapy market for truly innovative products,” said Greg Knudson, Rocket Ventures Director. “Turning Point’s management team and expert partners are an unmatched combination of influential industry visionaries and proven operating executives.”
As a direct result of the Rocket Ventures investment, Turning Point also received an additional $315,000 from other investors.
About Rocket Ventures
Rocket Ventures, a division of the Regional Growth Partnership, is a pre‐seed, early stage venture fund for technology‐based entities/companies operating within the state of Ohio. It consists of $15 million in state funding and $7.5 million in private sector investment.
About The Regional Growth Partnership
The Regional Growth Partnership is a private nonprofit development corporation dedicated to fostering local, national, and international economic growth opportunities for Northwest Ohio and Southeast Michigan. The Regional Growth Partnership acknowledges the contribution of the state of Ohio, Department of Development and Thomas Edison Program, which provide funding in support of the Launch program.