One year after officially launching, Tennessee-based ATS Innovations Inc. has found the right fit, quite literally, on the investor front.
The startup’s first product, the consumer brand MetaFlex, has caught the attention of local investors The Upper Cumberland Investment Alliance (UCIA) and InvestTN for its grip-strengthening compression gloves. The specialty gloves are designed specifically for people suffering from conditions like arthritis, tendonitis, and general hand pain and weakness.
Upper Cumberland and InvestTN are the company’s first two pre-seed investors. UCIA is a private investment fund focused on sustainable, profitable businesses in Tennessee’s Upper Cumberland Region. Launched in 2023, InvestTN is a $70 million equity investment fund that provides matching investments into promising local companies. The funding will go towards accelerating the development, manufacturing, and commercialization of the MetaFlex Gloves.
This is UCIA’s first portfolio company. ATS Innovations Inc. joins InvestTN’s portfolio company which now consists of 16 startups across industries, according to its website.
On top of announcing its new group of local investors, MetaFlex unveiled this week a total brand redesign. The team stayed local to bring the new brand identity to life, using the experts at Cookeville, Tennessee-based Foxtrot Branding.
MetaFlex is a unique medical device company since its end customers are not big healthcare systems or hospitals. Instead, the consumer-facing DME (durable medical equipment) company is building a product to help individuals reduce pain and improve mobility during or after daily activities, be it gardening, playing instruments, or getting out on the golf course or pickleball court. A pair of gloves are priced at $39.95.
Hypepotamus first spoke with MetaFlex’s founder Téa Phillips in early 2023, shortly after the startup launched its pre-order process for its gloves. Since then, Phillips and the team have been busy finding new ways to get on the hands of customers.
Last September, Phillips was up on stage at 3686, Nashville’s entrepreneurial conference, to pitch MetaFlex to a room of investors. At the same time, she was rushing to put MetaFlex up on Amazon in order to get the gloves in front of more customers. In March, Phillips exhibited at MedTrade, a large industry conference in Dallas. She told Hypepotamus that the traction gained at the conference helped her double the number of pharmacies that carry MetaFlex.
Following the investment, Phillips is eyeing more product expansion options. She said she is working on developing a new sports-specific version of the glove and other new designs that are fashionable and accessible for everyday wear.
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Photos provided by MetaFlex
