Smartphone-Based Ultrasound Maker Mobisante Raises $4.2M to Grow Sales

Originally published on MedCityNews.com.

The mobile health company that developed the first FDA-cleared ultrasound imaging system that works on a smartphone is looking to boost its uptake with a $4.2 million Series A.

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Originally published on MedCityNews.com.

The mobile health company that developed the first FDA-cleared ultrasound imaging system that works on a smartphone is looking to boost its uptake with a $4.2 million Series A.

Mobisante announced the first closing of Series A financing from WRF Capital, the W Fund and a group of angel investors, including members of the Alliance of Angels. A SEC filing indicates that the total investments from the first closing total $4.2 million. The company says it expects to do another closing soon.

With the Series A, the Redmont, Washington-based company plans to expand its sales and marketing efforts, said CEO Sailesh Chutani in a statement. He also told Xconomy that the company plans to build up its cloud computing capacity, to make it easier for users to store and share the images captured with the device.

Earlier this year, it launched a platform that also allows the device to run on Windows-based tablets. Chutani told Xconomy the four-year-old startup is experiencing “steady growth.”

Mobisante offers its device and software platform for under $10,000 and is competing in a space also occupied by SonoSite and GE Healthcare.

Check out a demo of the device from this year’s Future Med below.