What is CoapTech?
CoapTech is pioneering the PUMA System, a novel platform designed to enable ultrasound utilization within hollow organ cavities. This groundbreaking technology facilitates minimally invasive, bedside medical procedures, aiming to substantially reduce healthcare costs while enhancing patient safety and experience. The company's flagship product, PUMA-G for ultrasound gastrostomy in adults, has already received FDA clearance via the 510(k) pathway and a CE mark, signaling its readiness for broader market adoption. CoapTech's innovative approach was recognized when it was named a Medtech Innovator 2019 Best-in-Class Startup and the 2018 Maryland Incubator Company of the Year for Best Medical Device Company.
How much funding has CoapTech raised?
CoapTech has raised a total of $12.9M across 5 funding rounds:
Angel/Seed
$2.4M
Series A
$3.2M
Debt
$150K
Series B
$7M
Debt
$203K
Angel/Seed (2018): $2.4M with participation from Maryland Technology Development, National Institutes of Health, and UM Venture
Series A (2019): $3.2M, investors not publicly disclosed
Debt (2020): $150K supported by PPP
Series B (2020): $7M, investors not publicly disclosed
Debt (2021): $203K backed by PPP
Key Investors in CoapTech
Maryland Technology Development
Maryland Technology Development (TEDCO) is an organization that invests in and supports technology-based companies in Maryland, fostering innovation and economic growth.
National Institutes of Health
The National Institutes of Health (NIH), founded in 1887 and based in Bethesda, Maryland, is an agency of the United States Department of Health and Human Services and is the primary agency of the United States government responsible for biomedical and health-related research.
UM Venture
UM Venture is likely an investment arm or program associated with a university, focusing on commercializing research and supporting early-stage ventures.
What's next for CoapTech?
With its recent capital infusion and established market presence, CoapTech is strategically positioned for accelerated growth. The company's focus on expanding the application of its PUMA System across various medical procedures, coupled with its FDA and CE mark approvals, suggests a trajectory towards increased commercialization and market penetration. Future developments are likely to involve further clinical validation, strategic partnerships, and the scaling of manufacturing capabilities to meet anticipated demand for its cost-effective and patient-centric medical solutions. This funding will be instrumental in advancing CoapTech's mission to revolutionize diagnostic and therapeutic interventions.
See full CoapTech company page
