Entrevestor reports that “Prince Edward Island biometrics company” and Emergence client, Stepscan, has been successful raising investment from Saint John, New Brunswick-based angel investor group, East Valley Ventures.
Stepscan, Entrevestor says, “has been quietly raising a round of funding with the end goal of $300,000.” You can read the full article here!
Stepscan makes pressure-sensitive floor tiles that help analyse people’s gait to identify walking disabilities or balance issues.
“We sell a medical product,” CEO Crystal Trevors said in an interview. “It’s FDA-, Health Canada-approved and offers a turn-key gait analysis system.”
So far, the company has raised $150,000 through private investors.
Trevors says the funding will cover growth capital for the remainder of 2018. The company last raised capital in 2014 in a $2 million funding round led by the Regis Duffy Bioscience Fund.
“We have some big projects we’re expecting to close in the next six to eight months,” said Trevors. “It’ll be for working capital, supporting new distributors, training, development, marketing.”
Stepscan recently hired two new people, bringing their team to eight. With a solid clientele in the medical space, Trevors said the company is approaching new markets for new market applications.
“Where we’re going now is into new verticals mainly as a training system,” said Trevors who wants to take Stepscan’s technology to the military and professional sports worlds.