Custom surgical implant startup using AI lands 96 investors for $12M in new cash – WRALTechWire
NOTE: restor3d is a Duke University orthopedic medical device start-up spun out of the lab of Professor Ken Gall (MEMS, Pratt). Duke Capital Partners participated in this funding round. This article first appeared on WRALTechWire.
RESEARCH TRIANGLE PARK – When medical device startup Restor3d went to market to find new funding – minimum investment of $25,000 required – it found plenty of takers.
In fact, 96 backers signed on to secure part of Restore3D’s $12 million debt and convertible note offering.
The funding was disclosed in an SEC filing made Wednesday and signed by CEO Kurt Jacobus, who wants to make the surgical process more personal – and more effective.
The RTP-headquartered company is using 3D printing, artificial intelligence (AI), and machine learning (ML) to design patient-specific surgical implants and related instruments across multiple fields of medicine, reports Bryant Haskins for the N.C. Biotech Center.
Since its creation in 2017, the company – originally known as Additive Device – has concentrated on developing 3D printed medical devices, created with advanced biomaterials, and designed specifically for the patients who receive them, Haskins wrote.
Prior to the debt financing Restore3D had raised nearly $24 million from investors.