US-based dental technology developer Sonendo raised $50m in funding on Monday from investors including CVF, an investment affiliate of conglomerate Henry Crown and Company.
The round also featured growth equity firm General Atlantic, accelerator Fjord Ventures, investment firm Orbimed Advisors, private equity firm Meritech Capital Partners and venture capital firm Neomed Management.
Founded in 2006 by Fjord Ventures, Sonendo is working on medical devices for dentistry. Its first commercially available product, GentleWave System, removes bacteria during root canal procedures through a combination of acoustic waves and cleaning fluids.
The technology ensures dentin, one of the components that make up teeth, remains intact and reduces the need for follow-up treatments.
Sonendo will use the capital to accelerate its commercialisation activities and to expand and diversify its product portfolio. General Atlantic principal David Caluori will join its board of directors.
The company has raised approximately $158m in equity and debt to date, according to press releases and securities filings. CVF also took part in a $35m funding round in December 2016 alongside Dinova Capital, Fjord, Orbimed, Meritech, Neomed and SEB Private Equity.
Other past investors in Sonendo include life sciences-focused financial services provider Oxford Finance and VC fund Themes Investment Partners.