NovaTract Surgical Inc., a New Haven, Conn.-based developer of medical devices that reduce the number of incisions used in minimally invasive surgery, has raised $2.37m in Series A funding.
The round was led by existing investor Connecticut Innovations (CI), which made a $1m investment through its Eli Whitney Fund, with participation from Vital Financial, Golden Seeds, LaunchCapital, Enhanced Capital, Advantage Capital Connecticut, and other individual backers.
CI previously made a $208k in pre-seed investments and a $250k seed investment in NovaTract.
The company intends to use the funding to bring its first product to market by mid-2013.
Led by CEO Eleanor Tandler, NovaTract develops new, innovative laparoscopic medical devices to address minimally invasive surgery. The company’s initial product addresses the need to reduce the number of incisions necessary to perform minimally invasive surgery.
The company licensed its core technology from Yale University.