Warmilu Featured in WCPO Cincinnati
“After demo day at Hillman on Oct. 10, it’s on to more presentations. The next day, they make a presentation at the ‘Rise of the Rest with Steve Case’ competition, and in November at the WeWork Creator Awards. Prize money is at stake in both those events. Since April, Warmilu has closed on $222,000 from investors, Hsia said. It has also used $70,000 in grants and $40,000 of co-founders’ cash to fund the business. ‘It’s been tough at times,” she said. “We bootstrapped until the end of 2016. That was the first year we took external seed funding.’ The company’s already obtained Class I regulatory clearance for its product from the US Food and Drug Administration and plans to pursue Class II, which will enable it to sell its infant warming blanket in countries in Southeast Asia and South America.