Sonitus Medical Gets Strategic Investment From In-Q-Tel
San Mateo-based Sonitus Medical, developer of a novel hearing device, announced Tuesday that it has procured a strategic investment from In-Q-Tel. The specific amount of the investment was not disclosed. Sonitus said it has also signed a technology advancement agreement with In-Q-Tel, which was founded by the Central Intelligence Agency in 1999 with the mission of identifying and funding technologies that benefit the U.S. intelligence community. Founded in 2006 and headquartered in San Mateo, Sonitus is working on a removable hearing aid for people who are deaf in one ear that doesn't require surgery and transmits sound via teeth. In-Q-Tel's investment marks Sonitus' third round of funding to date--Aberdare Ventures and Novartis Venture Funds led a 2008 effort, and RWI Ventures led the first.
posted on Tuesday, May 26, 2009 (Link to more information)
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