Ultrasound Technology Startup Sonavex Raises $3M Series A and Expands Board: Medgadget Interview | Medgadget
Sonavex, a Baltimore-based medical device company, has announced a raise of $3M in financing including the first close of its Series A round led by Grey Sky Partners. Recently named Maryland’s 2016 Incubator Company of the Year, Sonavex is focused on improving surgical patient outcomes with point-of-care imaging technologies. Other organizations participating in this financing include CRCM Venture Capital, TEDCO, and the Abell Foundation. Award of a $750k Phase II SBIR grant from the National Science Foundation is also included in the financing. With this influx of capital, Sonavex will be advancing the commercialization of EchoSure, a Doppler ultrasound system, and developing additional ultrasound solutions currently in the company’s pipeline. The press release also announces the addition of Bill Niland, CEO of Harpoon Medical, and Bob Hallenbeck, former executive at Becton Dickinson, to Sonavex’s Board of Directors.