Warsaw-based RAZOR Medical Instruments Inc. has raised over $2 million in a Series A round of funding. Investors included Indianapolis-based Elevate Ventures and several angel investors.
The company says Elevate’s investment was made through its Smart and Advanced Manufacturing Fund.
“Attracting RAZOR Medical Instruments to Indiana is a big win for the state,” said Dan Meek, Elevate Ventures entrepreneur-in-residence serving Elevate Northeast Indiana. “The company’s single-use surgical instruments offer confidence to patients and healthcare providers in the battle against contracting infection from orthopedic surgery.”
RAZOR, which was launched in 2016, develops single-use instruments that it says increases efficiencies, reduces overall cost and reduces risk of surgical site infections associated with orthopedic joint replacement surgery.
RAZOR says its products allow ASCs to increase surgical capacity by eliminating the need to clean and sterilize reusable instruments.
“Our Series A funding will allow us to introduce the RAZOR Single-Use Acetabular Reamer System into the U.S. market,” said RAZOR founder and President Bruce Khalili. “We’re excited to proceed with our plans towards completing the development of equally innovative single-use instruments in building out our portfolio.”
Earlier this year, the company relocated its headquarters from New Hampshire to Warsaw.
RAZOR says it will use the funding to expand the launch of the Single-Use Acetabular Reamers. The company is also developing a portfolio of single-use joint replacement instruments for the hip, knee and shoulder.