A University of Cincinnati Venture Lab-backed startup has reached its pre-seed fundraising goal and been accepted into one of the world's top accelerator programs, the Cincinnati Business Courier reported.
The startup, Band Connect, has created technology that allows an in-clinic experience for physical therapy patients at home while providing clinicians insight into their patients' form and progress.
It was one of 12 companies selected for the Techstars Healthcare Accelerator's three-month cohort held in Los Angeles. The accelerator will offer exposure to industry-specific partners.
"They are payors and providers, and we need both of those in order for the solution to work," Band Connect co-founder and CEO Abby McInturf, a 2018 UC alumna, told the Business Courier. "We feel like they can best help us catalyze the momentum we have right now."
With $120,000 in equity financing from Techstars Healthcare as part of the accelerator, Band Connect has completed its $500,000 pre-seed funding round.
Band Connect likely will raise a $2.5 million to $3 million seed round later this year to fund a targeted clinical and commercial launch. The accelerator should help with that as its companies typically go on to raise more than $2 million of outside capital after the program, per the accelerator.
