Loading organizations...
§ Private Profile · Belmont, CA, USA
Clinical-stage medtech company developing minimally invasive devices for gastrointestinal patients, focused on improving colorectal surgery.
Averto Medical is a clinical-stage medical technology company based in Fremont, California, that develops minimally invasive devices specifically designed for patients undergoing colorectal surgery. Founded in 2016 by chief executive officer Kenton Fong, the enterprise focuses on advancing gastrointestinal care through its lead product, the investigational ColoSeal intraluminal diversion system, which aims to eliminate the clinical requirement for temporary ostomies. Operating as a venture capital-backed firm, the pre-commercial organization has successfully secured a total of $35.73 million in funding to support its ongoing clinical trials and future commercialization efforts. This capitalization includes an oversubscribed $30.5 million Series A financing round completed in May 2024, which was prominently led by Cormorant Asset Management. The recent investment featured additional equity participation from several prominent institutional backers, specifically including Venrock Healthcare Capital Partners, LifeSci Venture Partners, and CVF.
Averto Medical has raised $33.0M across 2 funding rounds.
Averto Medical has raised $33.0M in total across 2 funding rounds.
Averto Medical has raised $33.0M in total across 2 funding rounds.
Averto Medical's investors include Bihua Chen, CVF, LifeSci Venture Partners, Venrock, AlwaysraiseVC, Life Science Angels, Synergy Ventures.
Averto Medical has raised $33.0M across 2 funding rounds. Most recently, it raised $30.0M Series A in May 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 7, 2024 | $30M Series A | Bihua Chen | CVF, Lifesci Venture Partners, Venrock | Announced |
| Nov 29, 2023 | $3M Venture Round | — | AlwaysRaiseVC, Life Science Angels, Synergy Ventures | Announced |