The company that makes a low-cost blood transfusion device received the first investment from a new fund focused on Maryland startups.
In Africa, the team building Sisu Global Health is stepping up the introduction of its blood transfusion device. In Baltimore, the team is posting fundraising gains.
Sisu recently raised $500,000 from the Camden Partners Exelixis Fund, CMO Katie Kirsch said.
It’s the first investment made by the new fund focused on growing companies in Maryland, said Camden’s George Petrocheilos.
Sisu now has $800,000 toward its seed round. Previous investment came from the company’s pitch competition during Steve Case’s Rise of the Rest tour stop in Baltimore last year, and the Abell Foundation. The company is seeking $1 million for the round, Kirsch said.
The company’s three cofounders relocated to Baltimore from Michigan in 2015. They connected with local resources, participating in the Dreamit Health accelerator and working with Harbor Designs and Manufacturing on producing the Hemafuse device. The startup is now based out of Impact Hub Baltimore in Station North.
Kirsch said CTO Gillian Henker is currently in Ethiopia kicking off clinical studies for the device, which offers a safer and more affordable way to give a person a blood transfusion with their own blood.