California Startup Squares Funding for New Stent

SquareOne, a startup company based in Campbell, CA, that’s developing a new stent system, has raised $7.5 million in a Series C round. Information on the company and its technology is limited — it has no Web site — but according to Red Herring, “SquareOne’s stents are irregularly shaped so that they may fit in places where blood vessels join together.”

The financing was led by Three Arch Partners, a Portola Valley, CA, firm that, according to VentureBeat, contributed $4 million to the round. Onset Ventures, of Menlo Park, CA, was in for $3 million, while San Diego-based Finistere Ventures and existing angels contributed $500,000 each, says VentureBeat.

Red Herring says this third round is the first time SquareOne has turned to venture funding. “The stent developer’s first two rounds, which went toward developing a prototype, came from individual investors,” reports the magazine.  

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