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Print Edition StoriesWilmington's SensAble Technologies Inc. has amended its recent funding round with the addition of an extra $1.3 million boosting what had been a $2 million financing to $3.3 million, according to federal documents.
In late March, SensAble filed documents with the U.S. Securities and Exchange Commission stating that it had taken in $2 million of a planned $6 million new funding round. The document did not list the backers by name but did note that the number of investors in the round had climbed from six to seven. The listing of related persons in the SEC filing did not change from the March document, however.
Those related persons included Ronald Chwang of California-based Acer Technology Ventures, Carmichael Roberts of North Bridge Venture Partners and Ed Cahill and Enrico Picozza of HLM Venture Partners, all of which were involved in the company’s $8 million fundraise in March of 2010.
SensAble Technologies develops haptic devices, toolkits and 3-D modeling applications to create a virtual reality environment for use in medical simulation to reduce patient risk and expense. The company was founded in 1993 from work conducted in the 1990s by MIT then-undergraduates Thomas Massie and Kenneth Salisbury. SensAble’s tools allow doctors and other medical care staff to perfect their various tasks while requiring less manpower because the SensAble software and devices oversee the doctor during the training process, eliminating the need for an instructor, officials said.
Last year SensAble relocated from Woburn to Wilmington, taking space in the Ballardvale Office Park for its new headquarters.
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