Aerin Medical, Inc., an Austin, Texas-based medical device company, closed a $16.7m Series C financing.
The round was completed in two stages: the initial closing of $6.1m was led by the Targeted Technology Fund. The second closing of $10.6m was led by the KCK Group. In conjunction with the funding, Nael Kassar of KCK Group and Peter Savas of Targeted Technology Fund joined the Aerin Board of Directors.
The company intends to use the funds for building clinical evidence and establishing early commercialization in select markets.
Led by CEO Fred Dinger, Aerin has developed a treatment platform for the physician’s office, utilizing non-ablative radiofrequency energy to selectively target and remodel tissues contributing to nasal congestion. The company’s non-invasive treatments are intended to address nasal breathing disorders caused by anatomic obstruction and mucosal dysfunction.
The company has offices in Sunnyvale, California, and Singapore.