Fuse Fund—a startup fund focused exclusively on promoting entrepreneurs and early-stage businesses with a presence in the Tri-Cities region—invested in three startups and is monitoring several others for possible investment. Fuse Fund raised nearly $1.5M from local, community-minded investors; the fund’s goal is to exceed $2M in funding commitments. Fuse Fund’s investments made to date range from $150K to $200K in each of the following startups:
Carbitex pioneered flexible carbon fiber composites; currently, they focus on performance footwear, but there are many other potential applications. On the strength of their innovative products, Carbitex grew rapidly over the past few years, and they now have more than 50 employees. Most of their employees work at Carbitex’s manufacturing facility in Kennewick, shipping to clients around the globe. Adidas, a major client, incorporates Carbitex flexible carbon fiber into their performance footwear.
Humming Hemp produces several hemp-based products including their signature Hummingbar, which is a hemp protein bar. Hummingbars are a healthy snack that are made with hemp seeds and other all-natural ingredients including raw honey. Humming Hemp initially launched with the help of Fuse programs and resources, and its products are sold by Kroeger, Fred Meyer, and Amazon.
Brook developed a remote patient monitoring and health coaching platform using artificial intelligence to help manage chronic health conditions. Brook enables health care providers to proactively monitor patients’ chronic conditions, track progress, and provide coaching and health advice. While Brook is headquartered in Seattle, they agreed to locate an engineering team in the Tri-Cities on the strength of the Fuse Fund investment.
About Fuse Fund: The purpose of the fund is to enable the success of entrepreneurs in eastern Washington. Investors in Fuse Fund not only bolster regional startups, but over the life of the fund, Fuse Fund intends to achieve solid returns for investors as the startups increase in value. Fuse Fund will close the fund to new investors by the end of 2021. Fuse Fund is operated by Fuse Advisors, LLC, a wholly owned subsidiary of Fuse, SPC. Anyone interested in learning more about Fuse Fund or becoming an investor may contact Marty Conger, Managing Partner of Fuse Advisors, LLC, or any of the other board members (Brett Spooner, David Lippes, Meghan Chalk, and Ron Boninger).
About Fuse: Fuse is an SPC (Special Purpose Company) with a mission to enable an entrepreneurial ecosystem in the Tri-Cities region and provide resources to support the success of local entrepreneurs and startups. Fuse is located at the Fuse-operated coworking facility at 723 The Parkway in Richland. For more information, go to https://fusespc.com/.
Email your press release and a photo to Austin Regimbal, Marketing & Communications Director. Press releases are posted in their entirety. This is a free benefit for members of the Tri-City Regional Chamber.