Velano Vascular Nabs $5 Million for Needle-Less Blood-Drawing Device

Velano Vascular said it raised a $5 million Series A round for its "needle-less" blood-drawing device.

The round was led by First Round Capital and included Kapor Capital, Safeguard Scientifics (NYSE:SFE), White Owl Capital, Griffin Hospital of Derby, Conn., and the Children's Hospital of Philadelphia.

Velano, which was founded in 2012, said it plans to use the cash to fund clinical testing and early commercialization of the product at certain hospitals.

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