Kona Medical Gets $10M to Take Ultrasound to China
Bellevue, WA-based Kona Medical has raised another $10 million to take its big idea for ultrasound to China.
Kona said today it has secured that eight-figure sum from a single investor, Morningside Group, which aims to help Kona expand in China. The company predicts a market will emerge there for its ultrasound technology that is designed to zap overactive nerves around the kidneys that lead to persistent high blood pressure.
I wrote about Kona in depth last year, when it raised a $30 million Series C financing. The company tacked on an additional $10 million to that Series C deal in December. The money is flowing in the hope that Kona can build on the success of Mountain View, CA-based Ardian, which uses a different technology to achieve what’s known as “renal denervation.” Ardian was acquired by Medtronic in 2010 for $800 million.
Besides Morningside, Kona is backed by Domain Associates, Essex Woodlands, Morgenthaler Ventures, and BioStar Ventures. The company was founded in 2009.