Contact: Sarah Seagraves
i2E Vice President for Marketing
(405) 813-2403 or email sseagraves@i2E.org
i2E, Inc. recently led an $850,000 investment in Tulsa-based ICEdot, a company that has created an innovative crash sensor for action sports enthusiasts. i2E invested $425,000 in ICEdot through the i2E-managed Accelerate Oklahoma! Fund.
i2E was joined in the follow-on investment by $165,000 from the SeedStep Angels and $260,000 from other investors. I2E also led a $1.03 million investment in ICEdot in 2013.
ICEdot’s Crash Sensor attaches to the safety helmet of cyclists, skiers, snow boarders, BMX bikers and other action sports participants. The ICEdot Crash Sensor detects forces consistent with head injury and notifies emergency contacts of the owners GPS coordinates via text message.
With a worldwide exclusive license to the sensor technology, ICEdot is the only service that combines health data, sensor-based detection and notification services. The company’s largest customers are helmet manufacturers, said Chis Zenthoefer, ICEdot CEO.
“The company will utilize funds to make ongoing technology improvements to enhance and commercialize its relationships with helmet manufacturers along with supporting marketing efforts and acquiring IP,” Zenthoefer said. “We place our emergency ID stickers on helmets from Bell, Poc and Shred with others coming on board.”
As a part of the federal States Small Business Credit Initiative (SSBCI), this U.S. Treasury funded Accelerate Oklahoma! initiative offers funds that provide critical capital and co-investment for Oklahoma entrepreneurs at specific stages of their companies’ lifecycles. Investment terms are typically convertible debt or preferred equity and involve a rigorous due diligence process. The Accelerate Oklahoma! Program is designed to:
- invest in innovative startup companies that promise sustained revenue and increased employment;
- accelerate emerging growth businesses that show potential for bringing new products to market and increasing private capital investment in Oklahoma; and
- fund later stage companies that need capital to position them for expansion at the time of commitment.
The SeedStep Angels group was founded by i2E in 2009 and is now the state’s largest angel investment group with more than 40 members and chapters in Oklahoma City, Tulsa, Ardmore and Muskogee.
About ICEdot: Tulsa-based ICEdot is an emergency ID and notification service innovating safety technology for athletes and outdoor enthusiasts. ICEdot syncs a secure online profile with products such as a band, snap, helmet stickers or its latest product, the crash sensor. In Case Of Emergency, ICEdot has the ability share predesignated health and geolocation information over sms/text. ICEdot is a company full of everyday athletes that create products they want to use in their own lives. For more information visit icedot.org or icedotathletes.com. Chris Zenthoefer is CEO.
About i2E, Inc.: With offices in Oklahoma City and Tulsa, OK, i2E’s nationally recognized services include business expertise and funding for Oklahoma’s emerging small businesses.