About Forest Devices
Forest Devices is a company based in Pittsburgh (United States) founded in 2015 by Dan Willis, Carmelo R Montalvo, and Steve Morrow.. Forest Devices has raised $6.33 million across 12 funding rounds from investors including Innovation Works, Pittsburgh Life Sciences Greenhouse and America’s Seed Fund. Forest Devices operates in a competitive market with competitors including Cardiotrack, Powerful Medical, CorVista, Larkai Healthcare and Shenzhen Ruixin Intelligent Medical Technology, among others.
- Headquarter Pittsburgh, United States
- Founders Dan Willis, Carmelo R Montalvo, Steve Morrow
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Sectors
Healthcare
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Email
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Phone
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Website
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Social
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- Legal Name Forest Devices, Inc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$6.33 M (USD)
in 12 rounds
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Latest Funding Round
$549.99 K (USD), Seed
Nov 17, 2021
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Investors
Innovation Works
& 3 more
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Employee Count
Employee Count
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Funding Insights of Forest Devices
Forest Devices has successfully raised a total of $6.33M across 12 strategic funding rounds. The most recent funding activity was a Seed round of $549.99 thousand completed in November 2021. 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 12
- Last Round Seed — $549,993
- First Round First Round
- Investors Count 4
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Nov, 2021 | Amount | Seed - Forest Devices | Valuation |
investors |
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| Jun, 2021 | Amount | Seed - Forest Devices | Valuation |
investors |
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| Mar, 2021 | Amount | Seed - Forest Devices | Valuation |
investors |
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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 Forest Devices
Forest Devices has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Innovation Works, Pittsburgh Life Sciences Greenhouse and America’s Seed Fund. 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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Venture capital fund backed by the US Government
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Founded Year | Domain | Location | |
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Software, hardware, and life sciences startups are funded and accelerated.
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Founded Year | Domain | Location | |
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VC firm investing in tech startups
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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 Forest Devices
| 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 - Forest Devices
| 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 |
Forest Devices Comparisons
Competitors of Forest Devices
Forest Devices 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 Cardiotrack, Powerful Medical, CorVista, Larkai Healthcare and Shenzhen Ruixin Intelligent Medical Technology, 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.
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|---|---|---|---|---|
| domain | founded_year | HQ Location |
AI-based EGC data capture and analysis platform
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| domain | founded_year | HQ Location |
AI-powered devices for cardiovascular diagnostics and management are provided.
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| domain | founded_year | HQ Location |
Provider of an AI-based cardiac health diagnosis tool for healthcare professionals
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| domain | founded_year | HQ Location |
AI-powered diagnostic and monitoring solutions for cardiopulmonary anomalies are provided.
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| domain | founded_year | HQ Location |
AI-based medical imaging tools for cardiac disease diagnosis are provided.
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| domain | founded_year | HQ Location |
AI-based ECG analysis and cardiology diagnosis tools are developed.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Forest Devices
Frequently Asked Questions about Forest Devices
When was Forest Devices founded?
Forest Devices was founded in 2015.
Where is Forest Devices located?
Forest Devices is headquartered in Pittsburgh, United States. It is registered at Pittsburgh, Pennsylvania, United States.
Is Forest Devices a funded company?
Forest Devices is a funded company, having raised a total of $6.33M across 12 funding rounds to date. The company's 1st funding round was a Seed of $250K, raised on Jul 14, 2015.
What does Forest Devices do?
Forest Devices was founded in 2015 in Pittsburgh, United States. A stroke screening device is supplied to medical personnel in outpatient clinics, functioning as a simplified EKG for first-response use. The tool is completed in about one minute and applied in urgent care, hospitals, ambulance services, and emergency rooms. CT scans are not replaced by this device, which operates within the medical devices sector.
Who are the top competitors of Forest Devices?
Forest Devices's top competitors include Powerful Medical, Cardiotrack and CorVista.
Who are Forest Devices's investors?
Forest Devices has 4 investors. Key investors include Innovation Works, Pittsburgh Life Sciences Greenhouse, America’s Seed Fund, and GOOSE Capital.