RCT and Okapi Lead OrthAlign Series A Financing
OrthAlign Inc., a privately held medical device company in Orange County, Calif., has closed a $7.2 million Series A financing round led by Research Corporation Technologies Inc. (“RCT”) and Okapi Venture Capital LLC (“Okapi”). Additional participants include the company’s seed investors, Ron Yagoda and Ned Scheetz, along with CEO Pieter Wolters, and a group of accredited private individuals.
Christopher P. Martin, Senior Vice-President and CFO of RCT, and Sharon Stevenson, DVM, PhD, Managing Director at Okapi, have joined Yagoda, Scheetz and Wolters on OrthAlign’s Board of Directors.
“This round of financing provides us with the capital to finish developing our first line of products and bring them to market,” said Wolters, OrthAlign’s President and CEO. “Initial prototypes have been received favorably by leading orthopedic surgeons. We expect to have our first products available for clinical use in total knee replacement procedures later this year.”
About OrthAlign Inc.:
OrthAlign’s goal is to make computer-assisted orthopedic surgery affordable, hassle-free and easy to use, and create a new standard of care in total joint replacement. OrthAlign’s technology provides the critical features and benefits of large surgical navigation systems without the hassle and cost in a disposable, palm-sized device.
About Research Corporation Technologies Inc.:
Research Corporation Technologies in Tucson, Ariz., is a technology investment and management company that provides early-stage funding and development for promising biomedical companies and technologies. RCT has assets of more than $300 million to advance technology development through venture investment, partnerships and special licensing programs. For more information, visit www.rctech.com.
About Okapi Venture Capital LLC:
Founded in 2006, Okapi Venture Capital is a seed and early stage venture capital fund headquartered in Laguna Beach, Calif. Okapi, with approximately $30 million under management in its current fund, Okapi Ventures I, is focused on seed and early stage life sciences and information technology opportunities in Southern California. For more information, visit www.okapivc.com.