NICO Corporation Lands $10M in Funding

NICO Corporation, a medical device startup company that is privately held, recently announced that their Series C funding landed $10 million from in excess of 40 investors. Founded by life science executives in the state of Indiana, the company holds patents on a number of attractive medical devices including those related to spinal and neuro tissue.

Investors who helped raise the $10 million in funding include Twilight Venture Partners, Rose-Hulman Institute of Technology, Clarian Health Ventures and River Cities Capital Funds.

Said River Cities Capital Funds’ managing director, Carter McNabb: “NICO is one of those companies that has all the right ingredients for a success story. Innovative technology, compelling clinical applications and experienced leadership are all components of the NICO story line.”

Jim Pearson, the CEO and President of NICO Corporation believes that this series of funding will allow the company to build momentum in 2010.

Said Pearson: “Securing this level of commitment from investors who understand the importance of integrating reliable and industry-changing technology with a solid business plan indicates an unprecedented level of confidence during unpredictable economic times. These investments will allow NICO to ramp-up production and ultimately provide patients with new minimally invasive surgery options.”

Startup Funding (Image: Flickr)