By: 25 June 2020
Carlsmed raises $2.5 million for aprevo

US medtech startup Carlsmed, creator of the aprevo system for making custom spinal implants, has raised $2.5 million in seed funding.

The round was led by Cove Fund II, a prominent California life science and technology fund. Medtech funds Wavemaker Three-Sixty Health and Device of Tomorrow Capital, as well as individual investors, also participated.

“We are very bullish about the prospects for Carlsmed,” said Mike Benvenuti, co-manager of Cove Fund II. “Carlsmed’s team has the deep industry experience and operational expertise to lead the much needed shift to personalised medicine for challenging complex spine cases and beyond.”

Mike Cordonnier, CEO and co-founder of Carlsmed, said: “This round of venture financing accelerates the clinical launch of the aprevo system. Surgeons and patients across the spectrum that have postponed treatment for debilitating spinal conditions will soon have access to an affordable and streamlined system for personalised spine surgery.”

Carlsmed has also appointed Alexander Arrow as CFO and Shariq Hussain as CIO, who will lead the startup’s digital development and operations. Carlsmed said their appointments are crucial to building the infrastructure and systems necessary to scale the company to meet clinical demand.

The startup is currently incubating at EvoNexus, a non-profit technology incubator in California.