Medtronic, Inc. (MDT) Chips in to MC10's Latest $10 Million Round
12/18/2012 8:41:08 AM
Cambridge-based MC10, a developer of electronics that stretch and bend with the body's movements, said Monday it has raised a $10 million Series C round led by Medtronic (NYSE: MDT), as the firm prepares to launch a wearable injury-detecting product with Reebok in the first quarter of 2013. The funding brings MC10 to more than $30 million raised since its founding in 2008. The round included all existing investors along with a consumer health company that isn't being named, the company said. Existing investors in the company include Braemar Energy Ventures and North Bridge Venture Partners. In a news release, MC10 CEO David Icke said the new investors "bring much more to MC10 than capital." "These partnerships will help MC10 accelerate time-to-market for the products we are developing in consumer, digital health and medical devices," he said via the release.