ORIGINAL ARTICLE – Betakit, April 4th, 202
Medtech startup Cosm Medical has secured $4.7 million CAD ($3.8 million USD) in an oversubscribed seed round to create custom medical devices for women suffering from pelvic floor disorders.
The new funds will enable Cosm to further develop and launch its digital gynecology platform and gynecological prosthetics, which it calls Gynethotics. The investment will also go toward expanding research and development, and operations. Cosm plans to double its team of 10 employees.
The startup combines novel physiological biomarkers, AI-driven cloud software, and 3D printing to create its custom prosthetics.
Fusion Fund led the round with participation from iGan Partners, MaRS IAF, Telus Pollinator Fund, Archangel Fund, and several physicians and angel investors. The round closed in late March and not all investors were disclosed.
Lu Zhang, founder and managing partner of Fusion, will join Cosm’s board.
Derek Sham, Cosm’s founder and CEO, noted that Zhang’s experience included founding a medical device startup that she sold to Boston Scientific. “She’s a woman who’s done it before, and super well-connected in the fundraising community in Silicon Valley,” Sham said.
For her part, Zhang said she’s excited about the potential for Cosm’s unique AI and data-driven platform to change the standard of care for women suffering from pelvic floor disorders.
Sham witnessed his grandmother suffer through a pelvic health problem, and found himself unable to find her the care he thought she deserved. “I thought I’m going to use my grandma’s experience to launch something to change the standard of care for pelvic floor disorders,” Sham told BetaKit.
The experience inspired Sham to build a digital gynecology platform that he said is similar to what’s already available in such fields as custom dentistry, hearing, and orthotics. “However, we’re focused on improving the state of a very common, growing, and underserved women’s health condition,” Sham noted.
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