Tim Hayes, Sep 9th, 2020: Healthcarepackaging
KiToTech Medical has raised a whopping $3 million to help support its growth
The Seattle-based medical startup called KitoTech Medical, is disrupting the wound dressing market with an innovative alternative to stitches. and their product is microMend, described as a Band-Aid with the strength of sutures. The video of this product has gone viral with an increasing number of views.
"microMend is a unique new alternative to sutures, staples, surgical glues, and common adhesive strips for closing the skin surface as well as protecting the incision site afterwards. The product has the shape of a butterfly bandage with tiny micro staples that anchor the device to the skin with an equivalent holding strength of a suture," reads KitoTech's site.
According to the company, microMend products have been proven to close wounds much faster than sutures. Although it may sound like a very useful practical product, the firm was struggling to pitch it to hospitals and medical clinics due to the COVID-19 pandemic, reported GeekWire. That's when the company decided to switch techniques and target consumers directly. Since then, the results have been “remarkable" said CEO Ron Berenson. They began selling microMend directly to consumers on Amazon, and just announced the addition of microMend WIDE, intended for larger wounds.
The target audience for KiToTech are people who have gotten wounds but fear going to the hospital due to COVID-19. As you can imagine that is a lot of people in this day and age!
That's why the firm started selling microMend on Amazon directly to consumers and the product proved to be their fastest growing yet. On August 13, the company also announced the addition of a new product: the microMend WIDE.
"The product features the same general design of other microMend products, but it is three times wider making it much easier and faster to close longer wounds. With the addition of the WIDE device, the KitoTech portfolio now includes five different microMend products that provide the ability to securely and rapidly close nearly any wound regardless of size and shape," read the product's press release.
Keiretsu Forum has invested in this early stage medical start-up.
About Keiretsu Forum
Keiretsu Forum, the world’s leading angel investor network with over 1,500 investors in 38 chapters on 3 continents. Keiretsu Forum has invested more than $500 million into more than 700 companies since inception. Keiretsu Capital administers funds on behalf of its Limited Partners - the Co-Investment & Opportunities Fund creates a diversified portfolio of technology start-ups backed by top tier angel groups and pursues the high upside value potential in these dynamic investment opportunities while promoting the sharing of risk inherent in any early-stage venture. The firm is based in Seattle and San Francisco and its principals are veteran Silicon Valley and technology investors Randy Williams, Matthew C. Le Merle, and Nathan McDonald.
For more information please visit www.keiretsuforum.com or contact us.
