AAA Sotera Wireless gathers $12.2m

Sotera Wireless gathers $12.2m

Sotera Wireless, a US-based medical device maker formerly known as Triage Wireless, has extended its series D round to $12.2m.

Singapore government-backed fund EDBI led the round to help Sotera expand into Asia, which included participation from new investor Cerner Capital, a corporate venturing unit of the eponymous medical software company.

Paul Gorup, chief innovation officer and co-founder of Cerner, said: "We at Cerner believe in the power of innovation and decided to collaborate with Sotera Wireless to jointly make an impact on how vital signs for general care patients in hospitals are captured and documented."

The other syndicate members in the D round were existing investors venture capital firm Sanderling Ventures, corporate venturing units Qualcomm Ventures and Intel Capital and the West Health Investment Fund.

The $100m West Health fund was launched in October by Gary and Mary West, co-founders of the West Wireless Health Institute, to lower the cost of healthcare and it has the relatively unusual structure as returns are given to medical research, there are no management fees or carried interest, and compensation for the management team is salaried.

Sotera had raised $10.75m in April last year for its series C round from corporate venturing units Qualcomm Ventures and Intel Capital, family office West Family, and venture capital firms Sanderling Ventures and Apposite Capital.

It had previously raised $25.8m in its first two rounds.

 

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