Freshtracks Capital

FreshTracks Capital, established in 2000, is a Vermont-based venture capital firm specializing in early-stage investments in technology-driven companies. It focuses on seed, bridge financing, and growth capital, investing between $0.25 million and $2 million in companies with sales values between $1 million and $5 million. The firm prefers sectors such as software, hardware, telecommunications, and alternative energy, with a geographical focus on Vermont and adjacent regions. FreshTracks aims to support companies through multiple rounds of financing and stages of growth, typically exiting through acquisitions or other strategic methods.

Lee Bouyea

Managing Director

Cairn Cross

Co-Founder

Timothy C. Davis

Managing Director

Past deals in Vermont

wasted*

Pre Seed Round in 2023
Wasted* is a company based in Williston, Vermont, that focuses on transforming human waste into sustainable fertilizers. Founded in 2020, it aims to establish a circular sanitation economy that connects individuals to their local environment while unlocking the value of human waste. The company has developed a technology that effectively separates urine from feces, preserving the nutrients found in both while eliminating the need for chemical additives. This innovative approach enables clients to convert waste into a valuable resource, promoting environmentally friendly waste treatment and disposal practices.

Ogee

Series A in 2023
Ogee, Inc. is a luxury organic skincare brand based in Burlington, Vermont, that specializes in manufacturing and selling a range of skin care products, including lip care, moisturizers, serums, and cleansing products. Committed to organic and sustainable practices, Ogee emphasizes ethical sourcing and the use of high-quality natural ingredients, which are certified organic by NSF. The company integrates American-grown, cold-pressed jojoba oil with innovative skincare science to enhance the effectiveness of its products. Ogee markets its offerings through various retailers and online platforms, catering to consumers seeking skin-friendly and environmentally conscious beauty solutions. Founded in 2014, Ogee continues to uphold its dedication to quality and sustainability in the skincare industry.

Caledonia Spirits

Series C in 2023
Caledonia Spirits, based in Montpelier, Vermont, is a craft distillery that produces a range of spirits, including Bar Hill Gin, Tom Cat Gin, and Barr Hill Vodka. Established in 2008, the company emphasizes the use of locally sourced and organic ingredients, such as grains and raw honey, to create its products. The distillery aims to support local agriculture and working landscapes by adding value to the efforts of Vermont farmers and honoring the traditions of various agricultural communities. Caledonia Spirits distributes its beverages across multiple states in the U.S. and internationally in regions such as Denmark, Hong Kong, Japan, and Quebec. Through its operations, the distillery contributes to the economic and social well-being of the community while promoting sustainable agricultural practices.

Resonant Link

Convertible Note in 2022
Resonant Link LLC, founded in 2017 and based in Shelburne, Vermont, specializes in the development of advanced wireless charging solutions utilizing innovative coil technology. The company's signature product, the multi-layer self-resonant structure (MSRS), enhances the efficiency and performance of wireless power systems. Serving diverse industries including robotics, drones, and electric vehicles, Resonant Link aims to deliver wireless power solutions that are fast, safe, and reliable. By eliminating costly components found in traditional wireless chargers, Resonant Link's technology not only improves efficiency but also reduces the size, weight, and overall cost of charging systems. This enables a wide range of applications, from large industrial vehicles to compact medical devices.

Mamava

Seed Round in 2022
Mamava, Inc. is a company based in Burlington, Vermont, that specializes in manufacturing lactation stations and pods designed for nursing mothers. Founded in 2013, Mamava aims to transform the culture of breastfeeding by creating a more accommodating and inviting environment for mothers. The company's freestanding lactation suites provide a comfortable and private space for mothers to pump or nurse when they are away from home or at work. These pods have been installed in various locations, including airports, stadiums, convention centers, hospitals, and schools, to enhance access for breastfeeding parents. By addressing the barriers that nursing mothers face, Mamava promotes equitable access to necessary breastfeeding infrastructure, enabling mothers to meet their needs wherever they are.

Ogee

Series A in 2022
Ogee, Inc. is a luxury organic skincare brand based in Burlington, Vermont, that specializes in manufacturing and selling a range of skin care products, including lip care, moisturizers, serums, and cleansing products. Committed to organic and sustainable practices, Ogee emphasizes ethical sourcing and the use of high-quality natural ingredients, which are certified organic by NSF. The company integrates American-grown, cold-pressed jojoba oil with innovative skincare science to enhance the effectiveness of its products. Ogee markets its offerings through various retailers and online platforms, catering to consumers seeking skin-friendly and environmentally conscious beauty solutions. Founded in 2014, Ogee continues to uphold its dedication to quality and sustainability in the skincare industry.

Faraday

Convertible Note in 2022
Faraday, Inc. is a technology company that operates an analytics platform, primarily serving the banking and payments, energy, and education sectors. Established in 2012 and based in Middlebury, Vermont, the company offers four key solutions: Audiences for visual data exploration, Campaigns for data-driven multichannel outreach, Models for predicting key business outcomes, and Teams for permission-based data collaboration. Faraday's platform enables clients to gain insights, optimize marketing campaigns, and make data-driven decisions to improve business outcomes.

Benchmark Space Systems

Convertible Note in 2022
Benchmark Space Systems, Inc. is a company that specializes in the research, design, and manufacture of propulsion products tailored for the small satellite market. Founded in 2014 and based in South Burlington, Vermont, with an additional office in Burlington, the company provides integrated spacecraft propulsion systems, mobility subsystems, and orbit transfer products. Its offerings are essential for various satellite operations, including orbit insertion, deorbit, collision avoidance, and momentum management. Benchmark Space Systems is focused on delivering low-cost propulsion solutions that utilize a non-toxic, inert chemical, enhancing safety in transport and storage. The company's proprietary resistor jet micro propulsion system combines thruster, propellant storage, and control hardware into a compact package, making it an attractive option for businesses, scientists, and universities looking to utilize small satellites. With the small satellite market projected to grow significantly, Benchmark Space Systems is positioned to play a key role in this sector's development.

Caledonia Spirits

Series C in 2022
Caledonia Spirits, based in Montpelier, Vermont, is a craft distillery that produces a range of spirits, including Bar Hill Gin, Tom Cat Gin, and Barr Hill Vodka. Established in 2008, the company emphasizes the use of locally sourced and organic ingredients, such as grains and raw honey, to create its products. The distillery aims to support local agriculture and working landscapes by adding value to the efforts of Vermont farmers and honoring the traditions of various agricultural communities. Caledonia Spirits distributes its beverages across multiple states in the U.S. and internationally in regions such as Denmark, Hong Kong, Japan, and Quebec. Through its operations, the distillery contributes to the economic and social well-being of the community while promoting sustainable agricultural practices.

SAC Incorporated

Series A in 2022
SAC Incorporated designs, engineers, fabricates and delivers pipe support systems, structural steel, and process piping. The company aims to create value for clients and partners by utilizing innovative construction methods and solutions to challenges in the future, putting the forefront of modern construction means and methods. SAC Incorporated was founded in 1970 and is located in South Burlington, Vermont.

Resonant Link

Seed Round in 2022
Resonant Link LLC, founded in 2017 and based in Shelburne, Vermont, specializes in the development of advanced wireless charging solutions utilizing innovative coil technology. The company's signature product, the multi-layer self-resonant structure (MSRS), enhances the efficiency and performance of wireless power systems. Serving diverse industries including robotics, drones, and electric vehicles, Resonant Link aims to deliver wireless power solutions that are fast, safe, and reliable. By eliminating costly components found in traditional wireless chargers, Resonant Link's technology not only improves efficiency but also reduces the size, weight, and overall cost of charging systems. This enables a wide range of applications, from large industrial vehicles to compact medical devices.

Lost Lantern Whiskey

Convertible Note in 2022
Lost Lantern Whiskey is a brewing company that focuses on wine and spirits. The company was founded by Nora Ganley-Roper and Adam Polonski in 2018 and is headquartered in Weybridge, Vermont, United States.

Faraday

Series A in 2021
Faraday, Inc. is a technology company that operates an analytics platform, primarily serving the banking and payments, energy, and education sectors. Established in 2012 and based in Middlebury, Vermont, the company offers four key solutions: Audiences for visual data exploration, Campaigns for data-driven multichannel outreach, Models for predicting key business outcomes, and Teams for permission-based data collaboration. Faraday's platform enables clients to gain insights, optimize marketing campaigns, and make data-driven decisions to improve business outcomes.

Caledonia Spirits

Series B in 2019
Caledonia Spirits, based in Montpelier, Vermont, is a craft distillery that produces a range of spirits, including Bar Hill Gin, Tom Cat Gin, and Barr Hill Vodka. Established in 2008, the company emphasizes the use of locally sourced and organic ingredients, such as grains and raw honey, to create its products. The distillery aims to support local agriculture and working landscapes by adding value to the efforts of Vermont farmers and honoring the traditions of various agricultural communities. Caledonia Spirits distributes its beverages across multiple states in the U.S. and internationally in regions such as Denmark, Hong Kong, Japan, and Quebec. Through its operations, the distillery contributes to the economic and social well-being of the community while promoting sustainable agricultural practices.

Ogee

Debt Financing in 2019
Ogee, Inc. is a luxury organic skincare brand based in Burlington, Vermont, that specializes in manufacturing and selling a range of skin care products, including lip care, moisturizers, serums, and cleansing products. Committed to organic and sustainable practices, Ogee emphasizes ethical sourcing and the use of high-quality natural ingredients, which are certified organic by NSF. The company integrates American-grown, cold-pressed jojoba oil with innovative skincare science to enhance the effectiveness of its products. Ogee markets its offerings through various retailers and online platforms, catering to consumers seeking skin-friendly and environmentally conscious beauty solutions. Founded in 2014, Ogee continues to uphold its dedication to quality and sustainability in the skincare industry.

Kafina

Debt Financing in 2019
Kafina Energy, based in Burlington, Vermont, produces an innovative organic energy elixir designed to enhance physical energy, mental stamina, and mood. Their product, Kafina®, features a unique blend of ingredients, including fair trade coffee, Schisandra berries, fenugreek seeds, cardamom, and Vermont maple syrup, delivering 11mg of caffeine and only 10 calories per serving. Kafina Energy is committed to utilizing the healing power of plants, creating a beverage free from chemicals and the typical energy crash associated with many conventional energy drinks. The company aims to share its product with a broad audience, promoting a natural alternative for those seeking a revitalizing energy source.

Big Tree Farms

Venture Round in 2019
Big Tree Farms, Inc. is a Vermont-based company that manufactures and distributes a variety of organic food products, including chocolate, coconut sugar, coconut nectar, and cold processed nutrition derived from whole plants. Founded in 2000, the company collaborates with over 13,000 small farmers in Bali and Indonesia to create transparent and socially equitable supply chains. This approach allows Big Tree Farms to provide a range of offerings such as organic seasoning sauces, marinades, and alternatives to coconut water, while promoting sustainable farming practices. The company emphasizes environmental stewardship through its harvesting methods, which are designed to protect soil health and tree vitality. Products are made available to consumers through various retail channels and online platforms.

ThinkMD

Debt Financing in 2019
THINKMD, Inc. is a company that develops a point-of-care clinical assessment tool aimed at enhancing healthcare delivery, particularly in community settings. Founded in 2014 and based in Charlotte, Vermont, THINKMD offers MEDSINC, a tool designed for gathering patient information, assessing illness severity, and providing approved triage and treatment recommendations. This technology empowers non-healthcare professionals to perform clinical assessments, thereby decentralizing healthcare delivery and improving access to care. THINKMD's platform integrates clinical knowledge with mobile technology, utilizing Bayesian algorithms to improve decision-making. Additionally, the software facilitates the collection and analysis of public health data, aiming to enhance clinical outcomes and healthcare management on a global scale.

Ogee

Debt Financing in 2019
Ogee, Inc. is a luxury organic skincare brand based in Burlington, Vermont, that specializes in manufacturing and selling a range of skin care products, including lip care, moisturizers, serums, and cleansing products. Committed to organic and sustainable practices, Ogee emphasizes ethical sourcing and the use of high-quality natural ingredients, which are certified organic by NSF. The company integrates American-grown, cold-pressed jojoba oil with innovative skincare science to enhance the effectiveness of its products. Ogee markets its offerings through various retailers and online platforms, catering to consumers seeking skin-friendly and environmentally conscious beauty solutions. Founded in 2014, Ogee continues to uphold its dedication to quality and sustainability in the skincare industry.

Benchmark Space Systems

Seed Round in 2018
Benchmark Space Systems, Inc. is a company that specializes in the research, design, and manufacture of propulsion products tailored for the small satellite market. Founded in 2014 and based in South Burlington, Vermont, with an additional office in Burlington, the company provides integrated spacecraft propulsion systems, mobility subsystems, and orbit transfer products. Its offerings are essential for various satellite operations, including orbit insertion, deorbit, collision avoidance, and momentum management. Benchmark Space Systems is focused on delivering low-cost propulsion solutions that utilize a non-toxic, inert chemical, enhancing safety in transport and storage. The company's proprietary resistor jet micro propulsion system combines thruster, propellant storage, and control hardware into a compact package, making it an attractive option for businesses, scientists, and universities looking to utilize small satellites. With the small satellite market projected to grow significantly, Benchmark Space Systems is positioned to play a key role in this sector's development.

SunCommon

Series C in 2018
SunCommon, founded in 2012 and based in Waterbury Center, Vermont, specializes in providing affordable solar energy solutions to residential, community, and commercial sectors. The company offers solar installation services with no upfront costs, allowing customers to pay through low monthly payments. In addition to its installation services, SunCommon engages in energy advocacy, promoting the adoption of renewable energy practices. Through its comprehensive approach, the company aims to make solar energy accessible and beneficial for its clients.

Benchmark Space Systems

Debt Financing in 2018
Benchmark Space Systems, Inc. is a company that specializes in the research, design, and manufacture of propulsion products tailored for the small satellite market. Founded in 2014 and based in South Burlington, Vermont, with an additional office in Burlington, the company provides integrated spacecraft propulsion systems, mobility subsystems, and orbit transfer products. Its offerings are essential for various satellite operations, including orbit insertion, deorbit, collision avoidance, and momentum management. Benchmark Space Systems is focused on delivering low-cost propulsion solutions that utilize a non-toxic, inert chemical, enhancing safety in transport and storage. The company's proprietary resistor jet micro propulsion system combines thruster, propellant storage, and control hardware into a compact package, making it an attractive option for businesses, scientists, and universities looking to utilize small satellites. With the small satellite market projected to grow significantly, Benchmark Space Systems is positioned to play a key role in this sector's development.

Image Relay

Seed Round in 2018
Image Relay, Inc. is a provider of cloud-based digital asset management software, established in 2002 and headquartered in Burlington, Vermont. The company offers a user-friendly platform that enables brands to curate, control, and communicate their various assets securely from a centralized location. Its software facilitates the management of digital assets by allowing users to store, retrieve, and share files while also providing features to track previous versions and maintain updated copies. With capabilities for organizing assets using folder structures and advanced search functionalities, Image Relay helps clients efficiently catalog and analyze their digital content.

Faraday

Series A in 2018
Faraday, Inc. is a technology company that operates an analytics platform, primarily serving the banking and payments, energy, and education sectors. Established in 2012 and based in Middlebury, Vermont, the company offers four key solutions: Audiences for visual data exploration, Campaigns for data-driven multichannel outreach, Models for predicting key business outcomes, and Teams for permission-based data collaboration. Faraday's platform enables clients to gain insights, optimize marketing campaigns, and make data-driven decisions to improve business outcomes.

Mamava

Seed Round in 2018
Mamava, Inc. is a company based in Burlington, Vermont, that specializes in manufacturing lactation stations and pods designed for nursing mothers. Founded in 2013, Mamava aims to transform the culture of breastfeeding by creating a more accommodating and inviting environment for mothers. The company's freestanding lactation suites provide a comfortable and private space for mothers to pump or nurse when they are away from home or at work. These pods have been installed in various locations, including airports, stadiums, convention centers, hospitals, and schools, to enhance access for breastfeeding parents. By addressing the barriers that nursing mothers face, Mamava promotes equitable access to necessary breastfeeding infrastructure, enabling mothers to meet their needs wherever they are.

Caledonia Spirits

Series A in 2017
Caledonia Spirits, based in Montpelier, Vermont, is a craft distillery that produces a range of spirits, including Bar Hill Gin, Tom Cat Gin, and Barr Hill Vodka. Established in 2008, the company emphasizes the use of locally sourced and organic ingredients, such as grains and raw honey, to create its products. The distillery aims to support local agriculture and working landscapes by adding value to the efforts of Vermont farmers and honoring the traditions of various agricultural communities. Caledonia Spirits distributes its beverages across multiple states in the U.S. and internationally in regions such as Denmark, Hong Kong, Japan, and Quebec. Through its operations, the distillery contributes to the economic and social well-being of the community while promoting sustainable agricultural practices.

Ogee

Seed Round in 2017
Ogee, Inc. is a luxury organic skincare brand based in Burlington, Vermont, that specializes in manufacturing and selling a range of skin care products, including lip care, moisturizers, serums, and cleansing products. Committed to organic and sustainable practices, Ogee emphasizes ethical sourcing and the use of high-quality natural ingredients, which are certified organic by NSF. The company integrates American-grown, cold-pressed jojoba oil with innovative skincare science to enhance the effectiveness of its products. Ogee markets its offerings through various retailers and online platforms, catering to consumers seeking skin-friendly and environmentally conscious beauty solutions. Founded in 2014, Ogee continues to uphold its dedication to quality and sustainability in the skincare industry.

ThinkMD

Venture Round in 2017
THINKMD, Inc. is a company that develops a point-of-care clinical assessment tool aimed at enhancing healthcare delivery, particularly in community settings. Founded in 2014 and based in Charlotte, Vermont, THINKMD offers MEDSINC, a tool designed for gathering patient information, assessing illness severity, and providing approved triage and treatment recommendations. This technology empowers non-healthcare professionals to perform clinical assessments, thereby decentralizing healthcare delivery and improving access to care. THINKMD's platform integrates clinical knowledge with mobile technology, utilizing Bayesian algorithms to improve decision-making. Additionally, the software facilitates the collection and analysis of public health data, aiming to enhance clinical outcomes and healthcare management on a global scale.

Mamava

Debt Financing in 2016
Mamava, Inc. is a company based in Burlington, Vermont, that specializes in manufacturing lactation stations and pods designed for nursing mothers. Founded in 2013, Mamava aims to transform the culture of breastfeeding by creating a more accommodating and inviting environment for mothers. The company's freestanding lactation suites provide a comfortable and private space for mothers to pump or nurse when they are away from home or at work. These pods have been installed in various locations, including airports, stadiums, convention centers, hospitals, and schools, to enhance access for breastfeeding parents. By addressing the barriers that nursing mothers face, Mamava promotes equitable access to necessary breastfeeding infrastructure, enabling mothers to meet their needs wherever they are.

Social Sentinel

Series A in 2016
Social Sentinel, Inc. specializes in social media threat intelligence solutions for educational institutions and public safety sectors. The company provides a monitoring platform that alerts campus and community leaders to potential threats shared on social media, enhancing their ability to respond effectively. Its offerings include a mobile safety application and services tailored for various scenarios such as road safety, self-harm prevention, and severe weather events. Founded in 2011 and headquartered in Burlington, Vermont, Social Sentinel aims to improve community safety and security through innovative technology. It operates as a subsidiary of Navigate360, LLC, and focuses on enabling authorities to maintain oversight and manage resources efficiently in the face of emerging threats.

Moscow Mills

Convertible Note in 2014
Moscow Mills is a manufacturer and provider of mechanical engineering services, specializing in high-precision component production. Founded in 1996 and headquartered in Stowe, Vermont, the company focuses on serving the research and development, prototype, and short-run markets. With a commitment to quality and precision, Moscow Mills has established itself as a reliable partner in the mechanical engineering sector.

SunCommon

Series B in 2014
SunCommon, founded in 2012 and based in Waterbury Center, Vermont, specializes in providing affordable solar energy solutions to residential, community, and commercial sectors. The company offers solar installation services with no upfront costs, allowing customers to pay through low monthly payments. In addition to its installation services, SunCommon engages in energy advocacy, promoting the adoption of renewable energy practices. Through its comprehensive approach, the company aims to make solar energy accessible and beneficial for its clients.

Faraday

Series A in 2014
Faraday, Inc. is a technology company that operates an analytics platform, primarily serving the banking and payments, energy, and education sectors. Established in 2012 and based in Middlebury, Vermont, the company offers four key solutions: Audiences for visual data exploration, Campaigns for data-driven multichannel outreach, Models for predicting key business outcomes, and Teams for permission-based data collaboration. Faraday's platform enables clients to gain insights, optimize marketing campaigns, and make data-driven decisions to improve business outcomes.

Vermont Teddy Bear

Venture Round in 2005
Vermont Teddy Bear is a manufacturer and distributor specializing in handcrafted teddy bears and personalized gift products. Founded in Vermont, the company began with a single artisan creating bears in a garage and has since grown to become a beloved brand known for its quality and craftsmanship. Each teddy bear is meticulously designed and guaranteed for a lifetime, making them cherished gifts for a wide range of occasions, including birthdays, weddings, and holidays. In addition to teddy bears, Vermont Teddy Bear also offers pajamas and floral products, ensuring that there are thoughtful gift options for men, women, and children alike. The company's products are designed to be more than just toys; they are intended to be lifelong companions and treasured heirlooms.
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