FOR IMMEDIATE RELEASE
Forest Devices Announces $2.3 Million Seed Round
PITTSBURGH, PA (JANUARY 11, 2018), 1:17PM — Forest Devices, Inc., a clinical-stage medical device company that is developing the first portable stroke screening technology, announced it has successfully closed an oversubscribed seed round of $2.3 million led by the GOOSE Society of Texas and other individual investors. The funding will be used to carry out a large multi-site clinical trial, further research and development, and business development.
The Grand Order of Successful Entrepreneurs (GOOSE) Society of Texas, a group of super angels, led the round with syndication with Pittsburgh Innovation Works (IW) and other individual investors. Matthew Kesinger, CEO of Forest Devices, said: “this is a transformative investment that will take us closer to solving the stroke-triage problem and closer to commercialization.”
In addition, the company announced that Ashok Rao of GOOSE has joined the board of directors as chairman. Rao comes from a rich history of successful entrepreneurial pursuits and a decorated corporate career. “Forest is developing cutting-edge technology for early detection of strokes in the Ambulance that has the potential to change lives for stroke victims worldwide. I am excited to help champion this effort.”
Founded in 2015, Forest Devices, Inc. is a Pittsburgh-based medical device startup company that is developing AlphaStroke, the first device designed to detect stroke in any environment. The mission of Forest Devices is to reduce the disability of stroke victims experience of by getting these patients to the treatment they need, faster.
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Carmelo R. Montalvo