Rivanna Medical Raises $50K

Rivanna Medical, a University of Virginia (U.Va.)-based start-up that specializes in portable, low-cost, radiation-free X-ray replacement technology based on medical ultrasound, has received a $50k investment from the Center for Innovative Technology (CIT).

Led by CEO Giorgio Brusa, CTO Will Mauldin, and COO Kevin Owen, the company was formed as a result of collaborations between graduate-level students at the Darden Business School and Department of Biomedical Engineering at the University of Virginia (UVa).
Rivanna Medical plans to commercialize innovative ultrasound technology, which enables clear delineation of bone structures with 3D imaging capabilities. Markets for the technology include spinal anesthesia, the diagnosis of bone fractures, and guidance of orthopedic surgeries.

The company’s ¬†product is a smart phone-sized device targeting the spinal anesthesia market as a replacement for fluoroscopy-guided or “blind” needle insertion.

The funding was provided by CIT GAP Funds, which focuses on making seed-stage equity investments in Virginia-based technology, clean tech and life science companies.

FinSMEs

09/12/2012

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