SportGait Inc., a Wilmington-based startup, has raised $430,000 in its latest round of funding, which will be used to perfect technology that will become a medical device used in the concussion field, Tobin Geatz, board chairman with the company said Wednesday.
This latest raise will bring the company’s funding total to $1.47 million, according to filings with the U.S. Securities and Exchange Commission.
The company is now closer to its raising goal of $2 million after receiving funding from 20 investors in its latest filing.
The concussion management company raised $205,000 in 2017 and $835,000 in 2018
SportGait, a subsidiary of LifeGait, developed a phone application for parents, coaches and doctors that can help monitor sports-related concussion signs and symptoms in minors.
The app can also connect patients to doctors that can use SportGait technology.
The startup has previously received investment from Seahawk Innovation, which has a public-private partnership with the University of North Carolina Wilmington, making the university a part-owner of SportGait.
The company, founded in 2015, is housed at UNCW’s Center for Innovation and Entrepreneurship and is led by Chris Newton, its president and CEO.
SportGait will focus on sales expansion this year with the goal to get more users to download the free app, Geatz, said in a previous interview.
More on SportGait’s upcoming plans and leadership were discussed in a story on the upcoming Jan. 18 issue of the Greater Wilmington Business Journal.