Ben Franklin Fund
116 Research Drive, Bethlehem, PA, 18015, United States
Overview
The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) is part of a state-funded economic development initiative created in 1983. They link early-stage technology firms and established manufacturers with funding, people, technology, universities and other resources to help them prosper. In the process, BFTP/FEP aims to help fuel economic growth for northeastern Pennsylvania.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 9
Sector focus
- Private Social Networking
- Venture Capital
Investment portfolio
- UnityLab
Participated · Series A · Sep 2022
UnityLab builds and acquires brands that serve small businesses, operating well-known lines such as Hoffman-NewYorker garment and laundry presses and Unity Laundry Systems commercial appliances. The company’s stated mission is to revitalize manufacturing and enable innovation in small towns across the United States. UnityLab plans to scale operations and expand its manufacturing facility and headquarters in Dushore, Pennsylvania, and has announced plans to add as many as 150 jobs over the next several years. Financially, the company closed a $4.5 million Series A to support that growth, following an April 2022 investment of more than $2.3 million used to acquire the Dushore facility. The funding leverages incentives from the Pennsylvania Rural Jobs and Investment Tax Credit Program and aligns public and private investment to support rural economic development. UnityLab’s brands benefit from the company’s team with decades of industry expertise to drive further growth.