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Venture Capital News: Embody Closes $9.3M Series A

NORFOLK, VA, Embody has announced the closing of a $9.3 million Series A funding round.
Embody, a privately-held medical device company focused on soft tissue repair, announced today that has closed a $9.3 million Series A funding round led by Litigit LLC, with participation from Cultivate(MD) and 757 Angels. The financing will enable Embody to expand its world-class team and the commercial launch Tapestry, its next-generation soft-tissue repair technology in the second half of 2020.

"This financing represents a significant step in the growth of Embody," said Jeff Conroy, Embody's Co-founder and Chief Executive Officer. "We are now in a position to execute on our goals of commercializing Tapestry, our first in a series of soft-tissue repair products for Achilles, rotator cuff and knee ligament injuries."

The global market for sports medicine products is expected to reach $9 billion by 2024. Embody's products focus on the most pressing patient needs: the repair of serious tendon and ligament injuries and are developed in close collaboration with some of the most advanced clinical thought leaders.

About Embody: Embody is pioneering the next generation regenerative platform for the repair of tendon and ligament injuries with novel collagen-based bio-fabrication techniques and products for the fast-growing sports medicine market. Founded in 2014 and funded with $20 million in DARPA & DOD funding, the company is developing unique biomaterials with an initial focus on orthopedic applications including Achilles, rotator cuff and knee ligament repair, including ACL (Anterior Cruciate Ligament).
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