Texas innovators in the medtech space pulled in new capital last week to further their technologies aimed at keeping humans healthy. Check out what these companies are working on after their latest funding raises. This is the Built In Austin Weekly Refresh.
Noveon Magnetics got $75M. Headquartered in San Marcos, Noveon creates magnets out of rare elements mined from the earth, or discarded items like electric vehicles and hard drives. The company announced a round of Series B funding from NGP and Aventurine Partners that will go toward expanding its manufacturing capabilities. [Yahoo Finance]
Austin Tech Quote of the Week
“ClearScope offers surgeons and [operating room] staff an improved, streamlined, and simplified solution to clean their laparoscopes in-vivo. It is a win-win and we look forward to launching the improved product in June.”—John Uecker, MD, FACS, ClearCam CEO and co-founder
ClearCam pulled in $4M. Working to make it easier for surgeons to see what they’re doing during robotics-assisted procedures, ClearCam developed a disposable lens cleaner for a laparoscope, a tool that permeates the abdominal wall. Its seed round was led by angel investor Hal Jones and joined by the University of Texas at Austin. The capital will help ClearCam improve its tech and expand its solution’s commercial adoption. [PR Newswire]
Paradromics raised $33M. Medical device company Paradromics announced Series A funding led by Prime Movers Lab. The company is developing a brain-computer interface that works to assist individuals with motor impairments with communication. Its new capital will go towards launching its first human clinical trial for its Connexus interface. [PR Newswire]
