Sonendo announced on Monday that it has acquired $18 million in VC funding. The lead investor in the round was OrbiMed Advisors. Others who participated in the fundraising were Fjord Ventures, Themes Investment Partners, and NeoMed Management. As part of the investment, co-founder at chief executive officer of Themes Investment Partners Frank Yu has joined Sonendo's board of directors.
Sonendo, a endodontic therapy technology provider, is based in Laguna Hills, California.
The financing proceeds are to be used as buffer for Sonendo's technology development campaign, with further studies into clinical studies. It will also be utilized to market their product, the Multisonic Ultracleaning System, to belaunched in 2014.
"Our goal is to transform endodontics by improving the clinical quality and business performance of practices performing root canal therapy," said Sonendo's president and chief executive officer Bjarne Bergheim.
"Sonendo has designed a breakthrough endodontic technology based upon Sound Science, which will enable root canals to be simultaneously cleaned in about five minutes," he stated.
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