Medical technology company VerAvanti announced $31.5 million in funding to advance its work on ultra-thin imaging scopes that can be used in the prevention of strokes and heart attacks.
The Bothell, Wash.-based business also shared that it has signed a lease on a manufacturing facility near its headquarters.
The company has raised $40 million, including today’s Series A round, from friends, family and other “high-net worth individuals,” according to a spokesperson. It has not taken any venture capital funding.
The investment allows the business “to move from ‘research’ into ‘development and manufacturing’ mode,” said CEO Gerald McMorrow, in statement.