Southern California-based WaveTec Vision looked to Northern-California investor Foresite Capital to lead an expansion of its D2 funding round, which has so far pulled in $11 million.
The cataract surgery device maker said all its prior investors also chipped in to the pot, and that the funds will go to launch of the VerifEye surgical monitoring system. The company expanded the funding round that began back in January to meet its goal of $18 million.
The new VerifEye is intended to be used alongside the company’s current on-the-shelf product, the Ora System, which provides live measurements of the eye during surgery, rather than relying on measurements taken after surgery is completed.
"With its promising clinical results and rapid uptake by leading physicians, we believe the next-generation VerifEye will create a great deal of excitement in the marketplace and we’re pleased to support the continued success of WaveTec," said Foresite Capital CEO Jim Tananbaum in prepared remarks.
The new, expanded funding round comes on the heels of some tall funding rounds in the past, including a $16.5 million raise in April 2012 and a $15.9 million raise in May 2011.
"This is an exciting time to be in ophthalmology," said Tom Frinzi, CEO and president of WaveTec Vision. "Innovation is being rewarded and this infusion of new capital allows us to continue our journey toward improving the refractive outcomes of cataract surgery."
