Thursday, February 14, 2008

Startup Avedro sees first VC round, worth $8M

Medical device maker Avedro Inc. has raised an $8 million round of venture capital funding, according to a federal filing.

Waltham-based Avedro, which started in 2002 at Dartmouth College, is developing a microwave-based surgery procedure capable of treating myopia and offering a less invasive alternative to laser vision correction, according to officials.

Avedro received the funding from 10 investors, including Waltham's Echelon Ventures and Hanover, N.H.-based Borealis Ventures, the filing with the U.S. Securities and Exchange Commission shows.

The technology was developed at Dartmouth's Thayer School of Engineering and the Dartmouth Medical Center, according to Avedro.