by
Joan Trombetti, Writer | January 14, 2009
OrthAlign Inc., a Laguna Beach medical-device startup, has received $7.2 million in its first outside funding.
The equity investment is from Okapi Venture Capital LLC, a Laguna Beach early-stage fund, and Research Corporation Technologies, a Tucson technology investment management firm. Also participating were existing seed investors D. Ronald Yagoda and Ned Scheetz along with CEO Pieter Wolters and others.
OrthAlign is developing a line of computer-assisted surgical devices for total joint replacement that will fit in the palm of a hand, be disposable and easy to use.
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"This round of financing provides us with the capital to finish developing our first line of products and bring them to market," Wolters said.
The first products will be available in the second half of this year, he said.
As part of the investment, Sharon Stevenson, co-founder of Okipi, and Christopher P. Martin, senior vice president of RCT will become members of OrthAlign's board of directors.
