Bloomington Startup Lands Early Stage Funding
A Bloomington-based startup that focuses on feminine hygiene products has received $20,000 in early-stage funding from Elevate Ventures Community Ideation Fund. Chief Executive Officer Cindy Belardo launched Menstrual Mates in 2019 and developed a reusable menstrual cup.
Elevate Ventures says companies in the ideation stage are still formulating their product or idea.
Belardo says the funding will help the company complete the development of the device and introduce the product to market in six months. They plan to launch their main product by spring of 2022.
“I have been so impressed with their dedication as startup founders,” said Cy Megnin, Elevate Ventures’ entrepreneur-in-residence serving Velocities, a partnership that supports startups in south-central Indiana. “They are carving out a niche in the $20 billion+ global period care market.”
The startup received a pre-seed investment from the Elevate Nexus Regional Pitch Competition in May 2021. “The investment Elevate Ventures has made into our company through financial commitment, networking, and mentorship has brought us to the next step in development,” said Belardo. “It really means a lot as we turn our vision into reality.”