The mobile health company that developed the first U.S. Food and Drug Administration-cleared ultrasound imaging system that works on a smartphone is looking to boost its uptake with a $4.2 million series A.
Mobisante announced the first closing of series A financing from WRF Capital, the W Fund and a group of angel investors, including members of the Alliance of Angels. A U.S. Securities and Exchange Commission filing indicates that the total investments from the first closing total $4.2 million. The company says it expects to do another closing soon.
With the series A, the Redmond, Washington-based company plans to expand its sales and marketing efforts, wrote CEO Sailesh Chutani in a statement. He also told Xconomy that the company plans to build up its cloud computing capacity to make it easier for users to store and share the images captured with the device.
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Earlier this year, it launched a platform that also allows the device to run on Windows-based tablets. Chutani told Xconomy the four-year-old startup is experiencing “steady growth.”
Mobisante offers its device and software platform for under $10,000 and is competing in a space also occupied by SonoSite and GE Healthcare.
Check out a demo of the device from this year’s Future Med below.
