US-based healthcare diagnostics company Ortho Kinematics closed a $9.6m series C round on Monday featuring medical device manufacturer Medtronic.
Venture capital fund Texo Ventures, life sciences-focused VC firm MB Venture Partners and undisclosed existing and new investors also contributed funding.
The cash will support the commercialisation of VMA (Vertebral Motion Analysis), Ortho’s spinal imaging system, which is used to make radiographic assessments of spinal motion and instability.
Ortho has received clearance for VMA from the US Food and Drug Administration and intends to execute a full scale commercial launch of the system within the US and Europe. Cash will go to sales and marketing, as well as some research and development activities.
The company has now raised approximately $21m in total funding, according to regulatory filings. Its previous investors include VC firm PTV Sciences, investment firm Gatebridge Investments and the Texan state-backed Texas Emerging Technology Fund.