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Magnolia Medical Technologies nets $20 million, plus more top funding news for Seattle companies – Hoodline

Seattle-based health diagnostics and medical device company Magnolia Medical Technologies has secured $20 million in Series C funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced January 30 and led by RTW Investments LLC.

According to its Crunchbase profile, “Magnolia Medical Technologies is a device development company that focuses on improving the accuracy of diagnostic blood culture tests. The company was incorporated in 2011 and is based in Seattle, Washington.”

The eight-year-old company has raised six previous funding rounds, including a $7.2 million Series B round in 2017.

The round brings total funding raised by Seattle companies in health care over the past month to $56 million. The local health care industry has produced 43 funding rounds over the past year, capturing a total of $484 million in venture funding.

In other local funding news, industrial and automotive company Modumetal announced a $14 million funding round on January 29, led by Vulcan Capital.

According to Crunchbase, “Modumetal has enabled a revolutionary new class of nanolaminated materials with broad application in structural, corrosion and high temperature performance of coatings, bulk materials and parts.  Modumetal is based on the interaction of different materials at their interfaces. By laminating metals, Modumetal creates a new way to influence material properties. By growing metal using low-cost electrochemical methods, Modumetal enables a whole new class of applications of these materials.”

Founded in 2007, the company has raised seven previous rounds, including a convertible note in 2017.

Meanwhile, agriculture and industrial company iUNU raised $7.5 million in Series B funding, announced on February 26.

From the company’s Crunchbase profile, “Founded in 2013, iUNU is an industrial computer vision company headquartered in Seattle, with offices in San Francisco and San Diego. Connecting plants, facilities, and people through a single interface, Luna turns commercial greenhouses into precise, predictable, demand-based manufacturers. Luna is an AI born in the heart of Seattle; trained in Silicon Valley and the greenhouses of Skagit Valley; accessible from everywhere.”

iUNU last raised $6 million in Series A funding in 2017.

Also of note, sporting goods and sports company VICIS raised $1.5 million in Series B funding, announced on February 4 and financed by RX3 Ventures.

From Crunchbase, “VICIS is designing new football helmet technology that is showing an unprecedented reduction in the forces likely to cause a concussion. VICIS has developed a new football helmet called the ZERO1, which ranked No. 1 in 2017 NFL/NFLPA Helmet Performance Testing. The ZERO1 launched this season to NFL, NCAA and select high school programs.”

The company previously raised $28 million in Series B funding in 2018.


This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we’re doing. Got thoughts? Go here to share your feedback.

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