Israel-based endovascular device maker Rapid Medical has collected $20m in a series C round co-led by medical device manufacturer MicroPort Scientific Corporation and investment firm Jam Capital Partners.
The round also included RocSon Medtech Fund and Agate JT, a partnership between JT Capital and Agate Medical Investments.
Founded in 2008, Rapid Medical is developing systems to assist with endovascular treatments, minimally invasive procedures that are conducted inside the blood vessels.
The company’s products include a device to retrieve clots in patients that have suffered ischemic strokes, and a remodelling mesh designed to treat aneurysms.
Rapid Medical will use the investment to help it stake a commercial foothold in the US, to bolster its sales and marketing initiatives in Europe and to develop additional products. MicroPort has also secured the marketing rights for TigerTriever and Comaneci in China.
The company had previously raised $9m in a July 2017 series B round co-led by BRM group and Shanghai-Israel Investment Fund, with participation from Winnovation and Gefen Capital. It has not disclosed details of its series A funding.