Forest Devices Inc. recently raised $1.3 million of convertible debt financing from undisclosed investors in an early-stage VC round, PitchBook reports. The Pittsburgh startup, which is in Phase 3 of clinical trials for stroke screening device, has raised $4.26 million to date through three VC rounds.
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 rather than hospitals ill-suited for the patient’s needs.
Founded in 2015, Forest Devices is led by CEO Matt Kesinger. Kesinger was an EMT in Boston, for two years where he learned firsthand how hard it can be to diagnose a stroke with just a clinical exam. While attending the University of Pittsburgh School of Medicine and afterwards, he helped conduct and publish research on the difficulties of pre-hospital providers diagnosing stroke. His years of work on this problem led him to create ALPHASTROKE, with co-founders Dan Willis, CTO, and Steve Morrow, CFO.