Investors pump another $8.8M into KC medical device startup, bringing funding total to $20M+
March 31, 2020 | Startland News Staff
A Fairway-based medical device company is getting to the heart of its entrepreneurial journey, securing a fresh $8.8 million in Series A financing, Dr. Nicholas Franano announced Tuesday.
The additional influx to Artio — rebranded from “Metactive” earlier this winter — brings the startup’s total capital raised to more than $20 million. The company has spent years developing groundbreaking, best-in-class products for the peripheral vascular and neurovascular markets, said Franano, founder, president and CEO of Artio.
“We appreciate the strong support from our new and existing investors,” he said. “Our team is looking forward to making our innovative products available to physicians and patients.”
Click here to see why Artio/Metactive was named one of Startland News’ Kansas City Startups to Watch in 2019.
Funds from the latest round are expected to help Artio obtain 510(k) marketing clearance from the U.S. Food and Drug Administration (FDA) to market its Solus Gold Embolization Device in the United States.
Solus Gold Embolization Device
The Solus Gold is the first metal implant to provide a solid barrier to blood flow, and is developed for peripheral vascular embolization — a minimally invasive procedure that blocks or reduces blood flow in blood vessels for patients experiencing life-threatening bleeding and other serious medical conditions.
The combination of a low-profile, flexible delivery system and a detachable gold metal implant is designed for passage through tortuous blood vessels, precision placement, and immediate vessel occlusion after placement of a single device, according to the company.
Franano’s team also has revealed two other next-gen embolization products, the Solus Flex device and Aneura system.
Click here to learn more about these peripheral vascular solutions.
“Artio is developing a strong portfolio of disruptive, next-generation peripheral vascular and neurovascular embolization products, and we were thrilled to help lead the latest round of funding,” said Nathaniel Hagedorn, founder and CEO of Northpoint Development. “I have been incredibly fortunate to have so many people help me build my business and am happy to ‘pay it forward’ to a fellow entrepreneur with a clear vision and accomplished team.”
Featured Business
2020 Startups to Watch
stats here
Related Posts on Startland News
Meet the leaders driving Black & Veatch’s entrepreneurial revival
In June, Kansas City construction giant Black & Veatch kicked off an effort to accelerate new, innovative ideas by adopting a concept common among startups. The Overland Park-based corporation launched the B&V Growth Accelerator, which hopes to challenge the global firm’s traditional methods of generating and launching ideas. Black & Veatch — which works with…
One Kansas City startup survives national Kauffman contest
After about a month of public deliberation, the 1 in a Million pitch competition has narrowed participating startups down to a top five — and one hails from Kansas City. Although five area companies advanced to the top 40, The Grooming Project is last startup standing from Kansas City. A panel of Kauffman fellows will…
Not in Kansas anymore: Mycroft opens Kansas City, Silicon Valley offices
Editor’s note: This content is sponsored by LaunchKC but independently produced by Startland News. After a recent seed round that was topped off with a $50,000 LaunchKC grant, artificial intelligence startup Mycroft is moving from Lawrence to the City of Fountains. Mycroft — which developed an open-source, artificial intelligence device similar to Amazon Echo — not…
AOL founder Steve Case says innovators must become policy savvy
Get familiar with public policy or your company will get left behind. That was the forward-looking message that AOL founder Steve Case had for a group of about 200 investors and entrepreneurs at the 2016 Kauffman Fellows summit in Kansas City. Now the CEO of Revolution, Case argued that investors, entrepreneurs and policymakers will have…