Posted April 22, 2019
University System of Maryland Venture Capital Fund and Chesapeake Bay Seed Capital Fund Invest in PaverGuide, Inc.
PaverGuide, Inc., a company located in Kent County, Md., which has developed a permeable paving system that lessens harmful storm water runoff while removing detrimental substances such as phosphorous, has received a $650,000 investment in a funding round led by the University System of Maryland’s (USM) Maryland Momentum Fund and the Chesapeake Bay Seed Capital Fund (CBSCF) at $300,000 each, with Pin Oak Capital as the other investor in the round.
PaverGuide, Inc. holds exclusive intellectual property licenses with the University of Maryland, College Park (UMCP). Additionally, Salisbury University’s Philip E. & Carole R. Ratcliffe Foundation Shore Hatchery Competition supported PaverGuide with a $35,000 grant in 2015.