MākuSafe raises $1.5 million

West Des Moines-based MakuSafe has successfully raised $1.5 million, which will help the company continue to expand its manufacturing process and grow its team.

The raised $1.5 million comes mostly from previous investors – EMC Insurance Companies and Next Level Ventures – but also includes Colin Hurd, founder of Smart Ag, which was acquired by Raven Industries in November.

“We conducted pilots in 6 states over the last few months. The pilots yielded some exciting results with over $600,000 in estimated loss savings during that pilot period. In addition to the hazards identified by the system, several operational changes were made by companies based on data that came out of the pilots.” – Gabriel Glynn, CEO and cofounder of MākuSafe.

This is the third round MākuSafe has completed. The company raised $3 million in February of last year and $1.25 million in October 2017. This round brings the total funds raised by MākuSafe to nearly $6 million.

“We started 2019 with 4 people on our team and today we have 10 so team growth was a big part of our last raise. We also used the funds to get our manufacturing operation up and running and securing a global supply chain for our technology components.” – Glynn.