TitletownTech led an $8 million funding round for Oculogica Inc., a New York-based health tech company that developed a concussion diagnostic device.
Oculogica’s EyeBox is the first FDA-approved neuro-diagnostic device, which uses proprietary and innovative technology to track eye movement to determine if a person has a concussion.
Through 41 investors, Oculogica raised $8,571,753 with approximately $500,000 remaining to be sold, according to a U.S. Securities and Exchange commission filing.
“This investment acknowledges our leadership position as the first and only objective aid in diagnosis of concussion with FDA authorization,” Oculogica chief executive officer Rosina Samadani said in a statement.
EyeBOX technology requires no baseline testing and uses a noninvasive procedure that lasts less than four minutes and can be administered within minutes of an injury with immediate results, according to a press release.
The round of funding will support the commercial distribution at level I, II and III trauma centers nationwide, including additional units in the U.S. Department of Defense.
According to the Centers for Disease Control and Prevention, just 18% of concussions are sports related The CDC estimates there are more than 2.5 million emergency room visits in the United States each year as a result of head injuries, with further studies suggesting the actual number of concussions occurring annually in the U.S. could potentially be as high as 10 million.
Forged from a partnership between the Green Bay Packers and Microsoft Corp., TitletownTech builds and invests in early-stage startups and existing businesses. The innovation hub, located in the 45-acre Titletown District west of Lambeau Field, includes an innovation lab to vet new ideas, a venture studio to build startups from scratch, a $15 million to $25 million venture fund and “eatertainment” venue Topgolf Suites.
