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A Sudbury medical technology startup has secured US$14 million towards the development of its wearable ultrasound device.
The financing was led by venture capital firm Arboretum Ventures based in Ann Arbor, Mich., and included participation from existing investors iGan Partners and Genesys Capital.
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Dan Kindle, partner at Arboretum Ventures, will join the board of directors of Flosonics Medical as the company pursues commercialization in North America and new product development.
“This financing is an important milestone which coincides with our technology’s transition to the clinical setting,” said CEO and co-founder Dr. Joe Eibl.
Today in funding: Certn, Clover, Flosonics Medical, VEERUM, ChrysaLabs, sMedia
In recent days, six Canadian startups have announced fresh funding rounds to fuel their growth. Here’s the latest on who raised, how much, from whom, and what these companies will be putting the new funds toward.
Certn announces $43 million raised in the last last year
In the last year, Victoria-based startup Certn, which develops human risk intelligence solutions, has raised $43 million CAD over three separate funding rounds, with the latest being a $9.5 million Series A extension.
The Series A extension, which closed in December, was led by Telstra Ventures and B Capital Group, with funding also provided by Cyber Mentor Fund.
Sudbury medical technology startup receives funding to hire software developers
News Highlights: Sudbury medical technology startup receives funding to hire software developers
A Sudbury start-up is receiving $ 500,000 from the federal government to commercialize an innovative medical device and create local jobs.
Flosonics Medical will use the money to hire a team of software developers and industry experts to develop the IT infrastructure needed to roll out the FDA-approved medical device FloPatch.
The IT infrastructure allows the device to fully integrate with various medical record systems in hospitals and clinics in Canada and the United States.
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“This device here is the world’s first wireless portable ultrasound system,” said Flosonics Medical COO and co-founder Andrew Eibl.
NOBA 2020: Flosonics Medical is the recipient of this year s Innovation Award
The FloPatch, a wireless, peel-and-stick sensor developed by Sudbury-based Flosonics Medical, is promising to dramatically change the way physicians monitor patients.
Dec 28, 2020 11:00 AM By: Lindsay Kelly
Flosonics Medical of Sudbury is the winner of the Innovation Award for the 2020 Northern Ontario Business Awards.
In Sudbury, a startup medical-technology company is changing the way physicians treat patients, all with a high-tech device the size of a credit card.
Developed by Flosonics Medical, the FloPatch is a wireless, push-button sensor that uses Bluetooth technology to monitor patient blood flow.
Once the peel-and-stick device is adhered to a patient’s neck, results are tracked in real time and sent to a physician’s tablet or smartphone.