Wilmington-based SportGait Inc. has raised $585,000 in its latest round of funding, according to a filing with the U.S. Securities and Exchange Commission.
The concussion management company raised the money in equity from 31 investors, bringing SportGait’s total raised amount since 2017 to $2,055,000, according to filings.
This funding will be used for continuing sales expansion and research and development, Tobin Geatz, board chairman at SportGait, said in an email.
The startup is looking to raise an additional $195,000 to reach its funding goal amount of $2.25 million
The company has developed technology and an app that helps monitor concussion signs and symptoms in athletes.
Through its app, parents, coaches and doctors can determine the severity of an athlete’s head injury and steps to take if action is needed.
The startup is housed at the University of North Carolina Wilmington’s Center for Innovation and Entrepreneurship and is led by CEO and president Chris Newton.
SportGait is a subsidiary of LifeGait, a company that provides health and safety products.
The company has received investment from Seawhawk Innovation, a funding organization that has a public-private partnership with UNCW, making the university a part-owner of the startup.
SportGait has been recently focusing on delivering its product to youth athletic clubs and concentrating on sales expansion, Newton said in a previous story