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news.Fund to be used to inititate commercialization of Vertigo and Motion Sickness solving technology
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AdviTech has completed its initial funding round by securing commitments of $3.4 million, including $2.5 million from the Texas Emerging Technology Fund (ETF).
Wesley Krueger, chairman and chief scientific officer of AdviTech, said: “Especially during these difficult global economic times, we are very pleased with the financial support provided to AdviTech by the ETF and several local private investors. Their respective financial commitments allow us the ability to commence the commercialization of our Vertigo and Motion Sickness solving technology.”
Erik Andersen, chief executive officer of AdviTech, said: “In addition to the large and multiple markets, and having a patented technology for delivering resolution to motion-related balance and orientation disorders, AdviTech has attracted a world-class management team and board to execute its product engineering, design, and go-to-market strategies.”