What is CoapTech?
CoapTech is revolutionizing medical procedures with its PUMA (Point-of-care Ultrasound Magnet Aligned) System, a platform designed for utilization within hollow organ cavities. This technology enables less invasive, bedside interventions, promising substantial cost reductions and enhanced patient outcomes. The company's initial product, PUMA-G for ultrasound gastrostomy, has already achieved FDA 510(k) clearance and a CE mark, signaling its readiness for broader market penetration. CoapTech's innovative approach has garnered industry recognition, including being 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 UM Venture, Maryland Technology Development, and National Institutes of Health
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
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 an investment entity likely focused on supporting early-stage ventures, particularly those emerging from academic or research institutions, aligning with CoapTech's innovative medical device technology.
Maryland Technology Development
Maryland Technology Development (TEDCO) is an organization dedicated to fostering innovation and entrepreneurship in Maryland, providing funding and support for technology-based companies like CoapTech.
What's next for CoapTech?
With the recent infusion of capital and its established market traction, CoapTech is poised for accelerated growth. The company's strategic focus will likely involve expanding the application of the PUMA System to other medical procedures and increasing its commercial footprint both domestically and internationally. Further investment will be critical in supporting research and development for next-generation devices, as well as scaling manufacturing and sales operations to meet growing demand. The company's trajectory suggests a strong potential for future funding rounds as it continues to solidify its position as a leader in minimally invasive medical technologies.
See full CoapTech company page
