Edmonton Startup Receives Second Round of Funding from VA Angels

Posted by Techvibes NewsDesk

VA Angels has invested in Edmonton-based bio-technology startup Innovative Trauma Care’s second round of fundraising, bringing the angel group's total investment in the company to $1.1 million.

VA Angels has participated in every funding round that Innovative Trauma Care has had since its inception. The purpose of this funding round is to expand sales and marketing efforts, the startup says, as well as fully commercialize the product, reduce the cost of goods, and move the company towards a profitability position.

ALSO: Innovative Trauma Care takes home Top Innovator at Venture Summit

“VA Angels is incredibly proud of the fact that we have been investors in every round of this great company since its inception” says R. Stewart Thompson, CEO of VA Angels. “Innovative Trauma Care is one of our flagship investments, and we are very excited to see what happens next.”

“From the earliest beginnings of Innovative Trauma Care, the VA Angels have served as mentors and directors, as well as funders, and have been integral in establishing the board of directors and setting the company's strategic path to success,” said retired commander Dennis Filips, founder of Innovative Trauma Care.

Innovative Trauma Care is an early stage medical device company focused on developing and marketing point of injury solutions to address the common causes of preventable death in traumatic injury scenarios. It was founded in Edmonton in 2010.

VA Angels was established in 2003 and has done 57 deals for a combined $28.3 million.

Company:
VA Angels
Website:
http://www.vaangels.com
Location:
Calgary, Alberta, Canada

VA Angels is one of the leading Canadian angel groups and is one of the largest gatherings of business angels. Established in 2003, VA Angels has been in operation for the past ten years. The group has grown over the years and now has over 100 accredited investor members. Since its inception, the members of VA Angels have done 57 deals for $28.3 million. Formally, Venture Alberta Forum the new VA Angels brand was... more

Company:
Innovative Trauma Care
Website:
http://iTraumaCare.com
Location:
Edmonton, Alberta, Canada

The ITClamp™ addresses massive hemorrhage – a leading cause of death in traumatic injury – by controlling critical bleeding in under 3 seconds. The clamping device works by sealing the skin closed to create a temporary pool of blood under pressure, which forms a stable clot until the wound can be surgically repaired. Incorporated in 2010 and based in Edmonton, Canada, Innovative Trauma Care is an early stage... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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