Clearwater Clinical raises $6m Series A for Shoebox table audiometer

Clearwater Clinical said today that it raised a $6 million Series A round for its Shoebox tablet-based audiometer, taking its total raise to nearly $10 million. The round was led by Toronto’s Whitecap Venture Partners, with participation from BDC Capital Healthcare Venture Fund. Clearwater said it plans to work closely with Whitecap on product development, go-to-market programs and “future financing strategy.” The Ottawa-based company said it’s raised $9.5 million so far. The proceeds are earmarked for scaling the Shoebox business, which Clearwater claims is the 1st “clinically validated” tablet audiometer, and for promoting its service offerings and boosting its footprint in North America and Europe. “Hearing loss is the world’s leading disability, affecting almost 640 million people globally, and yet there has been very little innovation to audiometers in the last 50 years. Shoebox audiometry is satisfying an enormous need in the market by providing a simpler and more cost-effective approach to hearing testing,” CEO Michael Weider said in prepared remarks. “At Clearwater, we believe that it is possible to leverage the power and portability of software defined diagnostics and tablet technology to revolutionize the hearing health industry and make it possible for every person on the planet to have access to a hearing test.” “The global hearing market is ready for disruption and Clearwater is positioned...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Funding Roundup Wall Street Beat BDC Capital Healthcare Fund Clearwater Clinical Hearing Venture Capital/Private Equity Whitecap Venture Partners Source Type: news