OBMedical Company, a Newberry, FL-based maternal-fetal monitoring company, raised $2.1m in funding.
The round was led by New World Angels with participation from the Angel Investment Management Group, Atlanta Technology Angels, the Upstate Carolina Angel Network and the Palmetto Angel 2014 Fund.
The company intends to use the proceeds to complete safety, mechanical, and EMC testing, usability testing, and industrial design, supporting a filing for 510(k) clearance for LaborView – a wireless, external, electronic maternal-fetal monitoring sensor system.
Led by Weaver Gaines, CEO, OBMedical will offer LaborView, upon FDA clearance, as an alternative to traditional external sensors, allowing obstetric monitoring. It is expected to work with all major brands of monitors in the U.S. LaborView technology uses neural networks, signal processing, information theory, data fusion, and artificial intelligence.
In addition to the funding, Scott Dresden, MD, FACOG, a member of NWA, has joined the corporate board of OBMedical along with James Stubbs, Ph.D., a member of ATA and Principal Scientist and CEO of Radiation Dosimetry Systems.