Echolight, a Lecce, Italy-based medtech startup, raised €4m in Series A funding.
The round was co-led by Panakes Partners and Invitalia Ventures.
The company intends to use the funds to expand adoption of EchoS.
Co-founded in 2010 as a Spin-off of the CNR of Lecce by Sergio Casciaro, Matteo Pernisa, Stefano Pernisa, Ernesto Casciaro and Francesco Conversano, Echolight has developed EchoS, a non-invasive technology device for the early diagnosis of osteoporosis disease.
The EchoS device, which has been patented at national and international level and received the ISO and EC mark certification, is radiation free, can assess the bone quality, and does not require any certified operator and axial sites (spine and hip) assessment.
It also offers a user-friendly software platform that allows doctors to conduct diagnosis in a few minutes.
The company had previously received seed funding from Life Sciences Capital S.p.A.