Austin funding news: Health care and lending and investments top recent local investments

Austin funding news: Health care and lending and investments top recent local investmentsPhoto: Joust/Facebook
Hoodline
Published on August 20, 2019

Austin-based medical device company Apollo Endosurgery has secured $20 million in post IPO debt funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced August 13 and financed by Craig-Hallum Capital Group.

According to its Crunchbase profile, "Apollo Endosurgery was founded upon the initial work of the Apollo Group, an international think tank of world-renowned gastroenterologists and surgeons from five leading universities (Mayo Clinic, Johns Hopkins, Medical University of South Carolina, University of Texas Medical Branch-Galveston and Chinese University-Hong Kong.) Disappointed with the pace of innovation in therapeutic flexible endoscopy, the Group assembled in 1998 (Timeline) with the goal to advance the new discipline; their specific focus was the use of long, flexible instruments deployed through a natural orifice in order to diagnose and potentially treat gastrointestinal disorders."

The 14-year-old company has raised 10 previous funding rounds, including a $23 million post IPO equity round in 2018.

The round brings total funding raised by Austin companies in health care over the past month to $45 million, an increase of $25 million from the month before. The local health care industry has produced 36 funding rounds over the past year, securing a total of $303 million in venture funding.

In other local funding news, small and medium businesses and banking company Joust announced a $2.6 million seed funding round on August 12, led by PTB Ventures.

According to Crunchbase, "Joust Labs, Inc. develops and offers a banking toolkit for freelancers and entrepreneurs."

The company also raised a $3.4 million round in 2018.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.