OnSite Waste Technologies, a Newport Beach, CA-based leader in modernizing on-site medical waste disposal, completed a $3.5m seed funding round.
The round was led by Mark IV Capital and UCI Applied Innovation’s Cove Fund II as well as syndicated with individual investors.
The company intends to use the funds to build the team to accelerate the inventory and distribution of its new technology around the country, with a launch scheduled for May in Orange County, California, where it is headquartered.
Led by CEO Brad Barnes, OnSite Waste provides the TE-5000, a desktop-sized processing unit that converts regulated medical waste – sharps and red bag waste — into sterile garbage, safe for the medical practice’s regular trash. This technology is leased to the medical practice for a flat rate, and the staff uses disposable canisters to destroy and dispose of hazardous bio-waste conveniently in their office without the need risky hauling.