Forest Devices Inc., a clinical-stage medical device company that is developing a portable stroke screening technology, raised $465,000 of convertible debt funding from undisclosed investors, according to PitchBook. The company is a portfolio company of Innovation Works.
This latest capital raise follows its January 2018 $2.3 million seed round, which was led by the Grand Order of Successful Entrepreneurs (GOOSE) Society of Texas, a group of super angels, and other individual investors, in order to help the Pittsburgh startup carry out a large multi-site clinical trial, further research and development, and for business development.
Founded in 2015, the company’s Alphastroke is a non-invasive device that detects ischemic and hemorrhagic strokes to triage patients to the right level of care, enabling medical personnel and EMTs to quickly detect stroke, so they can route patients directly to stroke treatment centers.
