Velano Vascular Raises Additional $3.5M

Velano Vascular has raised an additional $3.5 million in funding for its inpatient blood-draw technology for adult and pediatric populations, the company announced.

The financing is an extension of a $5 million Series A completed in January 2015. Velano will use the proceeds to develop and market the device.

Four institutional investors and two hospitals that previously invested in Velano participated in this follow-on financing, as well as nine new investors, the company said. — Jonathon Shacat