ElastiMed, a Tradyon, Israel-based developer of a wearable device using smart materials to treat Chronic Venous Insufficiency (CVI) and to prevent Deep Venous Thrombosis (DVT), raised $1m in funding.
Backers included Pix Vine Capital, a Singapore-based investment house.
The company intends to use the funds to complete R&D, to proceed with regulatory filings, and to commence clinical trials.
Led by Omer Zelka, CEO, ElastiMed utilizes smart material technology in the development of a stocking, which is expected to improve patient compliance.
It is a portfolio company of Trendlines Medical, a commercialization company that discovers, invests in, and incubates innovation-based medical and agricultural technologies to fulfill its mission to improve the human condition.