DANVILLE, Va., April 17, 2014 /PRNewswire/ -- The Launch Place announced today a $250,000 investment in Raleigh, NC-based SEAL Innovation, Inc., to commercialize SEAL SwimSafe™. Utilizing wearable swim bands and state-of-the-art detection technology, SEAL SwimSafe™ will help improve swim safety and reduce drowning and injury by alerting guardians of swimmer distress.
For this investment, SEAL has agreed to establish operations in Danville's River District, which will bring leadership, technology and product development jobs to the area by 2015.
"We are excited to partner with The Launch Place and to invest in the Danville community. In addition to The Launch Place's $250,000 lead investment, its consulting services and partnerships in the Danville region will bring the talent we need to expand our capabilities and get our cutting-edge swim safety system to more people who need it," said Justin Calvillo, SEAL Innovation's Corporate Finance and Development Officer.
"We view SwimSafe as more than a product to sell," Calvillo added. "We believe that The Launch Place's support is integral to our mission of improving swim safety and enjoyment."
SEAL Innovation will donate one percent of its profits annually to nonprofits that help further learn to swim programs, parental and lifeguard education and training, and best safety practices in aquatic facility design and management.
"We are proud to be SEAL's newest partner to end global drowning," said Eva Doss, President & CEO of The Launch Place. "We predict SEAL is on the verge to deliver breakthrough technology in the aquatics industry."
SEAL Innovation leadership will visit Danville on Tuesday, April 29th, 2014 at 1:00 PM to hold a reception open to the public and media at The Launch Place to give the Danville community an opportunity to meet SEAL leaders as well as learn more about the company's mission and its swim safety products.
As a 501 (C) 3 nonprofit organization, The Launch Place strives to energize and diversify Southern Virginia's regional economy through entrepreneurship development and business consulting services. It assists with business development and job creation and retention regionwide through its business consulting services, while having a dual responsibility to recruit and retain entrepreneurs to the Danville region in deploying a $10 million grant award given over five years by the Danville Region Foundation. A $4 million seed fund was established with this grant to invest in startups and experienced entrepreneurs. For more information, go to www.thelaunchplace.org.
SOURCE The Launch Place