MākuSafe, a West Des Moines, Iowa-based Insurtech startup, raised $1.25m convertible note round of funding.
The investors remained undisclosed.
The company intends to use the funds to expand development efforts, being in the final rounds of field beta testing, tracking towards a go-to-market release in 2018.
Led by CEO Gabriel Glynn, CTO Mark Frederick, and CIO Kevin Krefting, MākuSafe makes a wearable workplace safety device, which is worn on an armband and senses a variety of environmental conditions, and MākuSmart, a cloud-based software platform using Machine Learning (ML) and Artificial Intelligence (AI) to derive valuable information from the data collected from the device.
Since securing EMC Insurance Company as an investor in early 2017, the company has identified a distribution model that utilizes insurance companies to deliver their device and MākuSmart.