# Mountain State Capital

> Mountain State Capital is a VC fund backing Health Care and Software. See 31 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Pittsburgh, United States
- Total investments: 31
- Last investment: May 2024
- Lead investor: 10%
- Fund size: $20M
- Last fund: Nov 2019
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/mountain-state-capital
- Website: http://mountainstatecapital.com/

Mountain State Capital is a venture capital firm that seeks to invest in early-stage companies spanning a variety of technology and industry sectors. The firm also provides early-stage risk capital to high-growth companies in the Appalachian region.

## Contacts

5 contacts available for Mountain State Capital. Shizune tracks 2 team members at Mountain State Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/mountain-state-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $1.3M–$6.3M |
| Series A | $588k–$13M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Health Care | 5 | 16% |
| Software | 4 | 13% |
| Biotechnology | 4 | 13% |
| Medical Device | 4 | 13% |
| Medical | 3 | 10% |

48 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Seed | 11 | 35% |
| Convertible Note | 8 | 26% |
| Series A | 6 | 19% |
| Series B | 1 | 3% |
| Funding Round | 1 | 3% |

6 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 18 | 58% |
| El Salvador | 1 | 3% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| David Wible | Investor | 0 | https://shizune.co/investors/profile/david-wible |
| Matt Harbaugh | Managing Director | 4 | https://shizune.co/investors/profile/matt-harbaugh |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| NANOCHON | Nanochon is a biotech and medical device company specializing in the development of innovative orthopedic solutions. The company develops medical implant technology focused on cartilage repair for patients with joint surface damage. Its primary product, Chondrograft, is a 3D-printed, synthetic implant engineered to replace lost or damaged cartilageand support the body’s own tissue repair. The design uses a nylon-based composite with structural properties intended to mimic natural cartilage and fit securely into defects using a press-fit surgical procedure. Nanochon’s solution targets individuals who require more than temporary relief but are not yet candidates for total joint replacement, offering an off-the-shelf device that integrates with the healing process. The company’s work includes advancing clinical evaluation and surgical use of its implant technology. | $4M | Seed | May 06, 2024 |  |
| Avisi Technologies | Avisi Technologies develops ophthalmic medical devices using nanotechnology to address vision loss associated with glaucoma and related eye conditions. The company designs implantable solutions such as VisiPlate, an aqueous shunt that regulates intraocular fluid through microchannel structures to help manage eye pressure. Its work combinesmaterials science and ophthalmology to create minimally invasive devices intended for long-term function within the eye. | $6.3M | Seed | Oct 01, 2023 |  |
| Aspinity | Aspinity offers neuromorphic all-analog integrated circuit technology that can replicate the functionality of digital signal processors. It reduces the system power requirements for always-on sensing applications.Their vision is that battery life does not have to stand in the way.It was founded in 2015 and headquartered in Pittsburgh,Pennsylvania. | $5M | Series B | Sep 19, 2023 |  |
| InspectionGo | InspectionGo is a home inspector company providing a variety of services to help inspection companies. It provides digital exhibition, and back-end services such as accounting, marketing, coaching, and inside sales to home inspectors across the nation. The company was founded in 2019 and is based in Morgantown, WV. | $5.5M | Series A | Jul 19, 2023 |  |
| Gridwise | The Gridwise app is the leading business platform for gig economy drivers, helping them maximize their earnings and track their business performance all in one place. Their app empowers 100s of thousands of all US gig drivers to run their businesses with unique demand insights, earnings, and activity tracking, performance reporting, and amarketplace of gig worker benefits. | $12.7M | Series A | May 26, 2022 |  |
| Arieca | Arieca manufactures and distributes a thermally conductive rubber composite. Arieca's composite is a stretchable, thermally conductive rubber that combines elasticity of soft silicone with the thermal of metal to be used as circuit wiring, sensors, and passive heat exchangers, allowing manufacturers to deploy an alternative form of rubber thatimprove the performance electronics and help them to safely interact with humans. | $6.5M | Series A | May 17, 2022 |  |
| CAIRA Surgical | CAIRA Surgical is a medical software and technology company on a mission to reduce costs and improve patient outcomes in orthopedic care. CAIRA Surgical develops advanced joint replacement software, scanning, and precision radar technologies designed for reliability, intuitive adoption, and global accessibility.CAIRA Surgical strives to empowersurgeons by inventing and investing in new, proprietary technologies that simplify workflows and enable better patient outcomes in joint replacement. | $5M | Seed | Jan 04, 2022 |  |
| Arieca | Arieca manufactures and distributes a thermally conductive rubber composite. Arieca's composite is a stretchable, thermally conductive rubber that combines elasticity of soft silicone with the thermal of metal to be used as circuit wiring, sensors, and passive heat exchangers, allowing manufacturers to deploy an alternative form of rubber thatimprove the performance electronics and help them to safely interact with humans. |  | Convertible Note | Mar 09, 2021 |  |
| UpContent | Here at UpContent, they believe content is currency. The exchange of this powerful information establishes thought leaders, builds strong communities, and evokes change. Even though the internet is full of valuable and beautiful content worthy of sharing, traditional methods of searching have made finding the hidden gems difficult andtime-consuming. That’s why they feel so passionate about their content discovery tool. UpContent gives users the power to spark conversations and gain insight on the topics they care about most. |  | Convertible Note | Jan 27, 2021 |  |
| Meter Feeder | Meter Feeder's mission to provide a low cost payment and enforcement solution for small to mid-sized governments. A fast set up process and geolocation get new users paid and on their way fast. MeterFeeder works with customers' current infrastructure. Users don't need to purchase any new meters or kiosks, growing the base of peoplemore willing to pay via electronic payments. |  | Convertible Note | Nov 12, 2020 |  |

10 of 31 investments shown.

## Co-investors
- [Innovation Works](https://shizune.co/investors/profile/innovation-works) — VC Fund, 9 deals together
- [Riverfront Ventures](https://shizune.co/investors/profile/riverfront-ventures) — VC Fund, 7 deals together
- [412 Venture Fund](https://shizune.co/investors/profile/412-venture-fund) — VC Fund, 3 deals together
- [Beni VC](https://shizune.co/investors/profile/beni-vc) — VC Fund, 3 deals together
- [Scribble Ventures](https://shizune.co/investors/profile/scribble-ventures) — VC Fund, 3 deals together
- [Amazon Alexa Fund](https://shizune.co/investors/profile/amazon-alexa-fund) — VC Fund, 2 deals together

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## FAQ

### What does Mountain State Capital invest in?

Mountain State Capital invests primarily in Health Care, Software and Biotechnology startups, most often at Seed and Convertible Note stage. Most of the 31 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Mountain State Capital's check size?

Mountain State Capital typically joins rounds of $1.3M–$6.3M at Seed and $588k–$13M at Series A. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Mountain State Capital participates in.

### How do I contact Mountain State Capital?

Public channels for Mountain State Capital include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Mountain State Capital?

The team at Mountain State Capital includes David Wible (Investor) and Matt Harbaugh (Managing Director). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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