Nanodropper, a medical device startup founded by University of Washington and Seattle University grads, announced a $1.4 million seed round this week. The company makes an FDA-approved adapter for eye drop bottles that reduces the size of eye drops to save money and medication.
Co-founders Allisa Song, Elias Baker, Mackenzie Andrews, and Jennifer Steger were inspired to solve the problem outlined in a 2017 article by ProPublica about how larger-than-necessary eyedrops were increasing costs for glaucoma patients. Eyedroppers often deliver more medication than the eye can physically absorb, and the Nanodropper reduces the size of drops by a quarter or more.
Golden Seeds, an investment firm focused on women-led businesses, Rochester Area Economic Development, Inc., Austin Area Angels, and the Seattle-based Alliance of Angels participated in the seed round.
Nanodropper was founded in Seattle; two of its co-founders are still based in the city. The company is now headquartered in Rochester, Minn. Song, Nanodropper’s CEO, is pursuing her MD at the Mayo Clinic Alix School of Medicine, which is located in Rochester.
Founded in 2018, Nanodropper previously raised funding from the UW Hollomon Health Innovation Challenge, grants, and angel investors. The startup also landed two contracts with the U.S. Air Force worth roughly $550,000.
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Source: https://www.geekwire.com/2021/medical-device-startup-nanodropper-raises-1-4m-eye-drop-bottle-adapter/
