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
Fishtech Labs invests $3M in Overland Park security firm
Tech accelerator Fishtech Labs on Thursday announced its first major investment in Foresite, an Overland Park-based managed security provider. Founded by serial entrepreneur Gary Fish, the Kansas City-based accelerator is investing $3 million in Foresite, which offers cyber security and compliance services for businesses. Unlike most managed service providers, Foresite uses a “white label” approach…
Digital divide initiative could help 9,000 Kansas City households
More than 9,000 Kansas City households are among the potential beneficiaries of a new national digital divide initiative. Comcast recently partnered with the U.S. Department of Housing and Urban Development’s ConnectHome initiative, marking the largest expansion to Comcast’s Internet Essentials program. Now all Kansas City households within a Comcast service area that receive HUD housing…
New Startland reporter wants to immerse herself in KC’s culture of innovation
Two months ago today, I packed up the last of my belongings in my Columbia, Mo. apartment. And to be frank, I was slightly embarrassed to be moving back in with my parents in Independence, Mo. A recent graduate from the University of Missouri’s School of Journalism, it seemed that almost everybody I knew was…
Exclusive: John Fein departing Techstars to lead new $7M Midwest venture fund
After three years with the Kansas City-based Sprint Accelerator, John Fein is moving on to lead a venture fund that has ambitious Midwestern plans. Fein, who’s served as the managing director at the Techstars-led accelerator since 2014, will serve his last day with the organization on July 31. With decades of fast-paced startup experience, Fein…