Mountain State Capital

Mountain State Capital is a venture capital firm founded in 2018 and based in Morgantown, West Virginia, with an additional office in Pittsburgh, Pennsylvania. The firm specializes in seed and early-stage investments, focusing on technology companies in the Greater Appalachia region, which includes West Virginia, Pennsylvania, Ohio, Maryland, Virginia, Kentucky, Tennessee, and North Carolina. Mountain State Capital typically invests between $250,000 and $500,000 in high-growth companies across various technology and industry sectors, providing essential early-stage risk capital to support their development.

Mike Green

Co-Founder and Managing Director

Matt Harbaugh

Co-Founder and Managing Director

Past deals in Pennsylvania

Gridwise

Series A in 2022
Gridwise, Inc. develops and operates a peer-to-peer driver intelligence mobile application for rideshare drivers. The company's software solution enables drivers to receive events and end time updates, real-time alerts, airport demand data, and maintain driver taskbar. Its application also enables to get alerts about traffic, weather, events letting out, and other nearby opportunities; calculate tax deductions and prepare detailed tax reports; automatically track mileage; and get real-time passenger data. Gridwise, Inc. was founded in 2016 and is headquartered in Pittsburgh, Pennsylvania.

Arieca

Series A in 2022
Arieca LLC, based in Pittsburgh, Pennsylvania, specializes in the development and distribution of Thubber, a thermally conductive rubber composite. Founded in 2018, the company has created a unique product that merges the compliance and elasticity of soft silicone rubber with the thermal conductivity of metal. This innovative material is stretchable and can be utilized in various applications, including circuit wiring, sensors, and passive heat exchangers. By providing an alternative form of rubber, Arieca aims to enhance the performance of electronic devices while ensuring safe human interaction, effectively addressing heat management challenges across multiple industries.

Arieca

Convertible Note in 2021
Arieca LLC, based in Pittsburgh, Pennsylvania, specializes in the development and distribution of Thubber, a thermally conductive rubber composite. Founded in 2018, the company has created a unique product that merges the compliance and elasticity of soft silicone rubber with the thermal conductivity of metal. This innovative material is stretchable and can be utilized in various applications, including circuit wiring, sensors, and passive heat exchangers. By providing an alternative form of rubber, Arieca aims to enhance the performance of electronic devices while ensuring safe human interaction, effectively addressing heat management challenges across multiple industries.

UpContent

Convertible Note in 2021
Here at UpContent, they believe content is currency. The exchange of this powerful information establishes thought leaders, builds strong communities, and evokes change. Even though the internet is full of valuable and beautiful content worthy of sharing, traditional methods of searching have made finding the hidden gems difficult and time-consuming. That’s why they feel so passionate about their content discovery tool. UpContent gives users the power to spark conversations and gain insight on the topics they care about most.

Meter Feeder

Convertible Note in 2020
Meter Feeder's mission to provide a low cost payment and enforcement solution for small to mid-sized governments. A fast set up process and geolocation get new users paid and on their way fast. MeterFeeder works with customers' current infrastructure. Users don't need to purchase any new meters or kiosks, growing the base of people more willing to pay via electronic payments.

Locomation

Convertible Note in 2020
Locomation, Inc. is a technology company based in Pittsburgh, Pennsylvania, that specializes in developing advanced trucking solutions through artificial intelligence and driver augmentation. Founded in 2016, the company focuses on enhancing safety and efficiency in the trucking industry with its innovative platform. Locomation's technology utilizes relay convoying, where a human-driven lead truck is followed by an autonomous truck, allowing for improved operational efficiency and cost reduction for trucking companies. The platform aims to eliminate truck-involved accidents and is applicable to various sectors, including commercial and defense transportation.

Locomation

Seed Round in 2020
Locomation, Inc. is a technology company based in Pittsburgh, Pennsylvania, that specializes in developing advanced trucking solutions through artificial intelligence and driver augmentation. Founded in 2016, the company focuses on enhancing safety and efficiency in the trucking industry with its innovative platform. Locomation's technology utilizes relay convoying, where a human-driven lead truck is followed by an autonomous truck, allowing for improved operational efficiency and cost reduction for trucking companies. The platform aims to eliminate truck-involved accidents and is applicable to various sectors, including commercial and defense transportation.

Aspinity

Series A in 2020
Aspinity, Inc. specializes in the manufacturing of reconfigurable analog modular processor (RAMP) chips designed for ultra-low-power electronics. These compact, analog machine learning chips analyze raw, unstructured sensor data, enabling them to identify important data early in the signal chain while filtering out background noise. By processing analog data directly, Aspinity's technology reduces the need for higher-power processing of insignificant information, optimizing power consumption for always-on, battery-operated devices. Their innovations are particularly valuable in applications such as voice activation, industrial machine health monitoring, and wearable health devices across consumer, industrial, and biomedical markets. Founded in 2015 and based in Pittsburgh, Pennsylvania, Aspinity aims to enhance battery life in sensing applications without compromising performance.

Peca Labs

Series A in 2020
PECA Labs, Inc. is a medical device company based in Pittsburgh, Pennsylvania, focused on developing innovative solutions for pediatric cardiovascular care. Its primary product, the MASA Valve, is a synthetic heart valve designed for right ventricular outflow tract reconstruction in children. Utilizing advanced material properties of ePTFE, the MASA Valve addresses limitations associated with existing conduits, offering improved outcomes and reduced need for re-operation. This device has received Humanitarian Use Device designation from the FDA and has been successfully implanted in numerous patients. Additionally, PECA Labs offers exGraft, an ePTFE vascular graft marked for enhanced visibility during procedures. Founded as a spin-off from Carnegie Mellon University and UPMC, the company aims to enhance the quality of life for children with cardiac defects while minimizing the surgical interventions they face throughout their development.

Conservation Labs

Convertible Note in 2020
Conservation Labs, Inc., founded in 2016 and based in Brownsville, Pennsylvania, specializes in smart water management technology aimed at reducing water consumption and detecting leaks. The company offers a non-invasive water monitor that can be easily attached to existing water pipes. This device integrates with an application to provide real-time data on water usage, potential leaks, and appliance performance. By offering insights into water consumption, Conservation Labs enables property owners to identify opportunities for conservation, ultimately helping them save money and better manage this vital resource. The company addresses the significant issue of excessive water use in the U.S., which amounts to over 3 trillion gallons annually, costing billions in waste.

UpContent

Seed Round in 2020
Here at UpContent, they believe content is currency. The exchange of this powerful information establishes thought leaders, builds strong communities, and evokes change. Even though the internet is full of valuable and beautiful content worthy of sharing, traditional methods of searching have made finding the hidden gems difficult and time-consuming. That’s why they feel so passionate about their content discovery tool. UpContent gives users the power to spark conversations and gain insight on the topics they care about most.

Gridwise

Seed Round in 2020
Gridwise, Inc. develops and operates a peer-to-peer driver intelligence mobile application for rideshare drivers. The company's software solution enables drivers to receive events and end time updates, real-time alerts, airport demand data, and maintain driver taskbar. Its application also enables to get alerts about traffic, weather, events letting out, and other nearby opportunities; calculate tax deductions and prepare detailed tax reports; automatically track mileage; and get real-time passenger data. Gridwise, Inc. was founded in 2016 and is headquartered in Pittsburgh, Pennsylvania.

Anglr

Series A in 2020
Anglr is an online platform established in 2016 that connects the global sport fishing community. It offers free mobile applications, patented IoT technologies, and a website designed to enhance the fishing experience. Anglr allows users to track and record details of their fishing adventures, including cast locations, bait used, weather conditions, and catch statistics. This functionality enables fishermen and women to document, analyze, and share their activities, fostering competition and camaraderie among users. By facilitating connections within the fishing community, Anglr transforms fishing into a more social activity, providing additional motivation and engagement even for those fishing alone.

UpContent

Corporate Round in 2019
Here at UpContent, they believe content is currency. The exchange of this powerful information establishes thought leaders, builds strong communities, and evokes change. Even though the internet is full of valuable and beautiful content worthy of sharing, traditional methods of searching have made finding the hidden gems difficult and time-consuming. That’s why they feel so passionate about their content discovery tool. UpContent gives users the power to spark conversations and gain insight on the topics they care about most.

Conservation Labs

Seed Round in 2019
Conservation Labs, Inc., founded in 2016 and based in Brownsville, Pennsylvania, specializes in smart water management technology aimed at reducing water consumption and detecting leaks. The company offers a non-invasive water monitor that can be easily attached to existing water pipes. This device integrates with an application to provide real-time data on water usage, potential leaks, and appliance performance. By offering insights into water consumption, Conservation Labs enables property owners to identify opportunities for conservation, ultimately helping them save money and better manage this vital resource. The company addresses the significant issue of excessive water use in the U.S., which amounts to over 3 trillion gallons annually, costing billions in waste.

CoeoSpace

Convertible Note in 2019
CoeoSpace, LLC specializes in providing flexible, move-in ready workspaces tailored for a diverse clientele, including entrepreneurs, freelancers, startups, and small businesses. Founded in 2019 and based in Warrendale, Pennsylvania, the company offers a variety of options such as co-working spaces, sublease spaces, and landlord spec suites. CoeoSpace employs advanced algorithms to facilitate quick and efficient matching of users to suitable spaces based on factors like team size, budget, and desired amenities. This technology-driven approach enhances the user experience by providing features such as listings, search capabilities, scheduling, verification, reviews, and live chat support. With a presence in over 188 U.S. markets, CoeoSpace is also affiliated with the National Association of Realtors, participating in its inaugural REach Commercial Accelerator Program.

FITT

Corporate Round in 2019
Fitt is a location-based platform that connects people to healthy living experiences across fitness, food, outdoors, and events. Available on the web, iOS, and Android, Fitt is live in 31 cities across the US, Canada, the UK, and Australia.

Anglr

Series A in 2019
Anglr is an online platform established in 2016 that connects the global sport fishing community. It offers free mobile applications, patented IoT technologies, and a website designed to enhance the fishing experience. Anglr allows users to track and record details of their fishing adventures, including cast locations, bait used, weather conditions, and catch statistics. This functionality enables fishermen and women to document, analyze, and share their activities, fostering competition and camaraderie among users. By facilitating connections within the fishing community, Anglr transforms fishing into a more social activity, providing additional motivation and engagement even for those fishing alone.

FITT

Series A in 2019
Fitt is a location-based platform that connects people to healthy living experiences across fitness, food, outdoors, and events. Available on the web, iOS, and Android, Fitt is live in 31 cities across the US, Canada, the UK, and Australia.

Gridwise

Seed Round in 2019
Gridwise, Inc. develops and operates a peer-to-peer driver intelligence mobile application for rideshare drivers. The company's software solution enables drivers to receive events and end time updates, real-time alerts, airport demand data, and maintain driver taskbar. Its application also enables to get alerts about traffic, weather, events letting out, and other nearby opportunities; calculate tax deductions and prepare detailed tax reports; automatically track mileage; and get real-time passenger data. Gridwise, Inc. was founded in 2016 and is headquartered in Pittsburgh, Pennsylvania.

Aspinity

Seed Round in 2019
Aspinity, Inc. specializes in the manufacturing of reconfigurable analog modular processor (RAMP) chips designed for ultra-low-power electronics. These compact, analog machine learning chips analyze raw, unstructured sensor data, enabling them to identify important data early in the signal chain while filtering out background noise. By processing analog data directly, Aspinity's technology reduces the need for higher-power processing of insignificant information, optimizing power consumption for always-on, battery-operated devices. Their innovations are particularly valuable in applications such as voice activation, industrial machine health monitoring, and wearable health devices across consumer, industrial, and biomedical markets. Founded in 2015 and based in Pittsburgh, Pennsylvania, Aspinity aims to enhance battery life in sensing applications without compromising performance.

Peca Labs

Series A in 2019
PECA Labs, Inc. is a medical device company based in Pittsburgh, Pennsylvania, focused on developing innovative solutions for pediatric cardiovascular care. Its primary product, the MASA Valve, is a synthetic heart valve designed for right ventricular outflow tract reconstruction in children. Utilizing advanced material properties of ePTFE, the MASA Valve addresses limitations associated with existing conduits, offering improved outcomes and reduced need for re-operation. This device has received Humanitarian Use Device designation from the FDA and has been successfully implanted in numerous patients. Additionally, PECA Labs offers exGraft, an ePTFE vascular graft marked for enhanced visibility during procedures. Founded as a spin-off from Carnegie Mellon University and UPMC, the company aims to enhance the quality of life for children with cardiac defects while minimizing the surgical interventions they face throughout their development.
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