Smart wood stove company MF Fire received $1.2 million in new funding in a round that includes the first investment from a venture fund created by the University System of Maryland.
The Baltimore-based company received $192,500 from the Maryland Momentum Fund, which launched earlier this year. Clean tech investor Bill Clarke was also named as a participant in the round.
MF Fire started in the University of Maryland College Park’s fire science program. Ryan Fisher and Taylor Myers invented the company’s Catalyst stove when they were graduate students in the program. They later teamed with Paul LaPorte, who is now the CEO of the company, as they further developed the stove for the commercial market.
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