Madison medical device company, Neuwave Medical Inc raises $25 million

Friday, May 22, 2015

Neuwave Medical Inc., a Madison medical device company, has raised $25 million of equity funding from 38 investors, according to a document filed with the U.S. Securities and Exchange Commission.

The funding brings to $72.8 the total amount the company has raised since May, 2009, according to its SEC filings.

Neuwave, founded by University of Wisconsin-Madison scientists, makes the Certus 140 thermal ablation system. The system provides a minimally invasive treatment that uses microwave energy to destroy tumor cells. It is an alternative to surgery and is used in some cases with patients who are too sick to have surgery.

Also, Fetch Rewards LLC, the maker of a digital grocery shopping app, raised $6.5 million, according to an SEC filing. The Madison company raised $2 million as a new cash investment and $4.5 million from the conversion of convertible notes, the filing said. There were 28 investors involved, it said.

Fetch was founded in 2013 by Wes Schroll, who was a University of Wisconsin-Madison student at the time. The company says its app provides benefits to three parties: Shoppers gets coupons, award points and expedited check-out; grocers get greater shopper loyalty and engagement; and consumer brands get the ability to deliver coupons to shoppers in the aisle at the point of decision.

 

 

jsonline.com

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