PowerVision Closes $24M Series C Financing

Funding Rounds

▤ Summary

PowerVision, Inc., a Belmont, CA-based developer of an accommodating intraocular lens, has closed a $24m Series C financing. The company intends to use the capital to expand its ongoing R&D efforts as well as conduct a clinical trial targeted at achieving the CE Mark in Europe. In conjunction with the funding, Dr. Stephen Oesterle, Senior Vice President, Medicine and Technology at Medtronic, will serve as an observer on the company’s Board. Led by President & CEO Barry Cheskin, PowerVision is developing a novel technology designed to fully restore accommodative ability – the ability to dynamically adjust focus to see at distance and near – and all the points in between. The company’s products are not yet approved or cleared for sale.

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Amount $24.0M Total raised
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Date July 15, 2011 Announcement date
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Investors Nellcor, Panorama Capital, Advanced Technology Ventures, Frazier Healthcare Partners Lead investors
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Company http://www.powervisionlens.com Funded company

▥ Classifications

industries
HealthTech
applications
E-Commerce EDI Software

◇ AskAI Classifications

Labels
Healthcare Software SaaS Medical Device Software

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