The Iowa Economic Development Authority announced innovation funding for four startups through Iowa’s State Small Business Credit Initiative.

The Innovation Fund is one of four areas established under the SSBCI program. It increases funding opportunities across Iowa’s innovation continuum to assist entrepreneurs through concept, launch and expansion.

These companies received funding:

• Ames-based Distynct Inc. was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel and product refinement. Distynct provides a remote monitoring system that deploys reliable internet connectivity to rural areas and sensors that collect critical barn data to support precision livestock farming.
• Haber Technologies Inc. was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel and market planning and entry activities. Headquartered in Ames, the company develops products through its Ag-Automations platform to help farmers dry, store and manage grain.
• Pitchly Inc., based in Des Moines, was awarded a $1 million Innovation Acceleration Expansion Fund loan for key personnel and product refinement. Pitchly is a global provider of software-as-a-service applications, offering customers the ability to access, search, edit and share data to fellow employees and connect the data to common work tasks.
• SwineTech, based in Solon, was awarded a $250,000 Innovation Acceleration Launch Fund loan for key personnel, product refinement and market planning and entry activities. The company offers software and services for pork producers to improve operational efficiencies, employee engagement and pig care.

Award recommendations for the SSBCI innovation funding are made by the SSBCI review committee to the IEDA executive director for approval.