About Averto Medical
Averto Medical is a company based in Fremont (United States) founded in 2016 by Kenton D Fong.. Averto Medical has raised $33 million across 5 funding rounds from investors including HHS, Venrock Capital Partners and LifeSci Venture Partners. The company has 18 employees as of December 31, 2023. Averto Medical operates in a competitive market with competitors including Axonics, On Target Laboratories, Huake Precision (Beijing) Medical Technology, Signum Surgical and Lumicell Diagnostics, among others.
- Headquarter Fremont, United States
- Employees 18 as on 31 Dec, 2023
- Founders Kenton D Fong
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Averto
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$33 M (USD)
in 5 rounds
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Latest Funding Round
$838.16 K (USD), Grant
Sep 20, 2024
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Investors
HHS
& 6 more
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Employee Count
18
as on Dec 31, 2023
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Funding Insights of Averto Medical
Averto Medical has successfully raised a total of $33M across 5 strategic funding rounds. The most recent funding activity was a Grant round of $838.16 thousand completed in September 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Grant — $838,162
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First Round
First Round
(01 Mar 2020)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2024 | Amount | Grant - Averto Medical | Valuation |
investors |
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| May, 2024 | Amount | Series A - Averto Medical | Valuation | Cormorant Asset Management | |
| Nov, 2023 | Amount | Seed - Averto Medical | Valuation | Synergy Ventures , AlwaysraiseVentures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Averto Medical
Averto Medical has secured backing from 7 investors, including institutional and venture fund investors. Prominent investors backing the company include HHS, Venrock Capital Partners and LifeSci Venture Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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VC & PE firm focused on healthcare sector
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Founded Year | Domain | Location | |
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Healthcare startups are funded by this corporate-backed venture capital entity.
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Founded Year | Domain | Location | |
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Healthcare startups are funded by this venture capital firm.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Averto Medical
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Averto Medical
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Averto Medical Comparisons
Competitors of Averto Medical
Averto Medical operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Axonics, On Target Laboratories, Huake Precision (Beijing) Medical Technology, Signum Surgical and Lumicell Diagnostics, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Sacral neuromodulation devices are developed for urinary and bowel control.
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| domain | founded_year | HQ Location |
Molecular imaging agents for cancer surgery are developed.
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| domain | founded_year | HQ Location |
Neurosurgery robots are provided for neurological disorder treatments.
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| domain | founded_year | HQ Location |
Surgically implanted devices for perianal fistula treatment are provided.
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| domain | founded_year | HQ Location |
Developer of fluorescence-guided imaging technologies to help surgeons detect residual cancer tissue during operations
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Averto Medical
Frequently Asked Questions about Averto Medical
When was Averto Medical founded?
Averto Medical was founded in 2016 and raised its 1st funding round 4 years after it was founded.
Where is Averto Medical located?
Averto Medical is headquartered in Fremont, United States. It is registered at Fremont, California, United States.
Who is the current CEO of Averto Medical?
Kenton D Fong is the current CEO of Averto Medical. They have also founded this company.
Is Averto Medical a funded company?
Averto Medical is a funded company, having raised a total of $33M across 5 funding rounds to date. The company's 1st funding round was a Seed of $3M, raised on Mar 01, 2020.
How many employees does Averto Medical have?
As of Dec 31, 2023, the latest employee count at Averto Medical is 18.
What does Averto Medical do?
Averto Medical was founded in 2016 and is headquartered in Fremont, United States. Medical devices targeting gastrointestinal diseases are developed by the company. Operations focus on innovative solutions such as the ColoSeal intraluminal colonic diversion system, which facilitates colorectal cancer resection procedures without requiring a temporary diverting stoma. The sector involves healthcare technology for patient care improvements in digestive disorders.
Who are the top competitors of Averto Medical?
Averto Medical's top competitors include Axonics, Huake Precision (Beijing) Medical Technology and Lumicell Diagnostics.
Who are Averto Medical's investors?
Averto Medical has 7 investors. Key investors include HHS, Venrock Capital Partners, LifeSci Venture Partners, Cormorant Asset Management, and unknown.