Money Moves: Bucks County-Based Astarte Medical Raises $7.6M

Bucks County-based Astarte Medical, maker of NICUtrition, a suite of digital tools and diagnostics that supports feeding protocols, practice and decision-making in neonatal intensive care units (NICUs) for premature babies, has raised $7.6 million.

The company was first on our 2020 RealLIST Startups list and has previously raised $8.5 million. This $7.6 million is considered an a-1 raise, and investors include Viking Global Investors LP, Lunsford Capital, Ben Franklin Technology Partners, OCA Ventures, Next Act Fund, Capita3, Leatherneck Ventures, and Social Venture Circle.

“We were thrilled to double the size of the team in early 2020 and then the pandemic hit. Selling our NICUtrition solution to hospitals was challenging as they were all laser-focused on COVID-19, however we are now seeing movement from our hospital clients and are optimistic about the remainder of 2020,” cofounder Tammi Jantzen told us last year. “In addition, we have completed analysis of our NICUbiome dataset and plan to introduce the solution by the end of the year.”

This round will focus on scaling the NICUtrition technology and its sales, the company said in a statement. Wendy Slatery, a seasoned sales exec and CCO at Aspect Imaging, will be joining the company’s board.

Read the full article here.

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