Sponsor news: Angel conference backs brain device startup, weapons discovery company raises $15 million
News: Five startups scrambled for $200,000 in funding in the final round of Seattle Angel Conference, with a new medical device company BrainSpace rise to the top.
Crown: BrainSpace will use the new money to support the development of an automated external ventriculostomy system, a device that helps relieve pressure in the brain caused by injury, stroke or other medical conditions. The device has “continuous intracranial pressure monitoring that supports remote consultation and new discoveries,” according to the company’s website. The startup is based in Bothell, Wash. created a working model of the device with $100,000 self-funded, according to Wesley Johnson, a manager of the conference. The startup declined to provide further details when contacted by GeekWire.
Founders: CTO BrainSpace Stephen Morse is a mechanical engineer who has worked for many companies, including the global electrical and manufacturing company Flex. CEO Caitlin Morse formerly a program manager at Flex and also a co-founder of a small medical device services startup, MorseCode Medical. The couple co-founded BrainSpace this January.
Runner-up: The other four finalists are Violett, developing virus-killing air filters; PetHub, make electronic tags for pets; Curie, generating 2D images into 3D models for online retailers; and EarthUP, has created software for companies to improve environmental sustainability.
Angles: The twice-yearly conference aims to generate new investors in Washington through a startup competition. New “eligible” angel investors — with $1 million in assets or $200,000 in annual income — work with experienced investors to vet dozens of companies over two months.
The conference has educated 434 new investors over the past 10 years and invested $4.6 million in 39 startups, using funds raised from angels. “Our goal is to promote entrepreneurship in the community so that we operate more effectively as a startup ecosystem,” said the founder. John Sechrest in one videotapes.
Other transactions:
– Weapon detection startup hits $10 million: Mount Lassen is developing a handheld radar system for “no touch” detection of weapons concealed by law enforcement, the military and private locations.
“Enabling a zero-touch encounter between law enforcement and incarcerated individuals will improve the experience for everyone involved. – makes the concealed weapon threat removal process more secure and less invasive,” said the CEO and Chairman of the Board. Hatch Graham, in statement.
Alpha Intelligence Capital, Lauder Partners and Orbit Venture Partners participated in the seed round for the Bellevue, Wash.-based startup, founded in 2019.
– Rehabtronics raises $1.6 million for bed sore prevention device: Vancouver, BC .-based medical device company Rehabtronics is developing a device to reduce pressure injury caused by immobility. The device delivers an electrical stimulation through pads on the skin to increase muscle contraction and blood flow. The new funding will support the commercialization of the device, which is currently in clinical trials.
The round was led by North Spring Capital and Threshold Impact, with additional support from Archangel Network Investment Fund and Thin Air Labs. Rehabtronics was founded in 2003 as a spinout from the University of Alberta’s Institute of Neuroscience and develops devices for paralyzed and immobile people.
Other deals we tracked this week at GeekWire:
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