Blue Belt ties up $2.4m in first equity round
This article was originally published in Clinica
Executive Summary
"Smart" surgical instruments developer Blue Belt Technologies has completed a $2.4m series A financing round. The funds were provided by private investors, Pittsburgh Life Sciences Greenhouse and Innovation Works. The financing will enable Pittsburgh-based Blue Belt to finalise development and prepare its FDA submission for its core product, the precision freehand sculptor (PFS), a handheld tool for computer-assisted bone cutting. Spun out of Carnegie Mellon University, Blue Belt says the PFS is designed to be integrated into the estimated 8,000 navigation systems installed worldwide in a cost effective manner. The company is also developing an independent platform for other bone based procedures.