Velano Vascular, a San Francisco, CA-based medical technology company which aims to enhance the care experience for hospitalized patients and their practitioners, raised an additional $3.5m in funding.
Backers included existing investors First Round Capital, White Owl Capital, Kapor Capital, and Safeguard Scientifics, Griffin Hospital, The Children’s Hospital of Philadelphia, and a number of health industry veterans as well as new investors Ed Ludwig, Oscar S. Schafer, Qosina Founder Stuart Herskovitz and D-W Investments.
The company, which had completed a $5m Series A round in January 2015, will use the funds for the development and commercialization of its inpatient blood-draw technology in adult and pediatric populations.
Led by Eric M. Stone, co-founder and CEO, and newly added vice president, Manufacturing and Operations Quinton J. Farrar, Velano Vascular is advancing technologies that aims to improve the blood-draw experience during hospitalization. The company’s single-use, disposable device is intended to standardize blood draws via patients’ existing, indwelling peripheral IV (PIV) catheter, reducing the reliance on repeat needle sticks and central line blood draws. It is currently working to better understand and evaluate its technology in pediatric patients, and will initiate pilot programs this year exploring the device in medical centers and departments that serve both adult and pediatric patients.
Velano also has an office in Philadelphia.