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Sykesville defense firm raises $2 million in new funding

Awardee Story Sykesville defense firm raises $2 million in new funding
Date: Dec 12, 2017
Author: Morgan Eichensehr
Source: bizjournals ( click here to go to the source)

A defense technology firm based in Sykesville has raised a new $2 million funding round, according to recent documents filed with the U.S. Securities and Exchange Commission.

Zeteo Tech LLC, founded in 2013, specializes in developing, prototyping and commercializing technologies for customers in the national security sector. The entire $2 million goal of the company's equity funding round was reached and two investors participated, according to the SEC filing.

Representatives with the company could not be reached for comment for this story.

Zeteo is led by Wayne Bryden, a former project manager for the Defense Advanced Research Projects Agency, or DARPA. Other executives with the company come from backgrounds in tech and entrepreneurship, and from companies like major defense contractor Raytheon Co., ImaRx Pharmaceutical Corp. and Northrop Grumman.

Projects the team is working on are focused on toxin detection, air and water purification, portable power, decontamination and building protection technologies. Some of Zeteo's customers include Raytheon, the U.S. Army and the Johns Hopkins Applied Physics Laboratory.

The firm moved into a new building earlier this year in the Warfield Commerce and Cultural Center in Sykesville, which was once part of a local mental health facility. Bryden said the new digs would be used as a headquarters for Zeteo, as well as a space to build mass spectrometers, the Carroll County Times reported last year. Mass spectrometers are used to analyze what different chemical species exist in a given substance.

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