Lantos Technologies Inc. completed a $1.6 million equity round.
Braintree, Mass.-based Catalyst Health Ventures led the Series A round with support from Boston-based Excel Venture Management and Mass Medical Angels.
The proceeds of the investment will be used to complete product development, Lantos CEO Shahid Azim said in prepared remarks. According to a federal Securities & Exchange Commission filing, the funds will also be used for payments to any of the individuals to be named as executive officers and directors.
The Cambridge, Mass.-based MIT spin-out is working on 3D imaging technology for the ear canal to develop better-fitting hearing aids and other aural devices. The school’s Deshpande Center provided $50,000 in seed funding for the company’s primary research in 2009, the same year the company was founded by MIT engineering professor Douglas Hart.
