An alternative cycling start-up company in Townsend is getting a financial boost from the state.
Cutting Edge Wheels received a $380,000 program investment from Nest Tennessee, a venture capital firm funded by the state. Launch Tennessee also gave a $150,000 co-investment.
Cutting Edge Wheels is a new company started by three local entrepreneurs with business backgrounds in companies such as ADIDAS and Procter and Gamble. They believe there's a big opportunity for growth in alternative biking, and these investments will help them meet those demands.