PORTFOLIO COMPANY, ASTARTE MEDICAL, ANNOUNCES $5 MILLION RAISE LED BY KEIRETSU FORUM MID-ATLANTIC
Ryan St. John | Published on 5/13/2019
Astarte Medical, a Yardley, Pa.-based software company in the precision medicine space, announced Tuesday it raised a $5 million Series A round led by Keiretsu Forum MidAtlantic.
The company, founded in 2016 by former investors Tracy Warren and Tammi Jantzen, will use the funding to complete the development of its flagship product: NICUtrition, a suite of digital tools and diagnostics that supports feeding protocols, practice and decision-making in neonatal intensive care units (NICUs).
Ben Franklin Technology Partners, Viking Global Investors LP, Lunsford Capital, OCA Ventures, Keiretsu Capital Fund, Wing VC and Next Act Fund also joined the round.
“This funding will bring us one step closer to completing our suite of solutions to support unmet needs in the NICU to drive better preterm infant outcomes such as improved growth and minimized risk of infection,” said Warren, who also serves as the company’s CEO.
According to Warren, current NICU feeding protocols are complex and have to be tracked manually, which bogs staffers down. Astarte’s product looks to automate the feeding protocols, and use quantitative data about preterm babies’ gut health to deliver customized care and nutrition.
(Center City-based Keriton also targets NICUs, though its solution focuses on breast milk and formula management.)
Here's more on Astarte's platform: https://vimeo.com/200291444
Angel Investing, Angel Investing Network, Astarte Medical, Keiretsu Forum Mid-Atlantic, NICU