As stated by George Petrocheilos, a General Partner of Camden Partners Nexus, and a member of the Board of Directors of Sisu Global, “We are very excited with the tremendous progress Sisu has made since we first invested in June 2016. With the launch in Africa, Carolyn & her team are demonstrating great ability to execute. Also thrilled to see Revolution and other sophisticated private investors joining us as backers of Sisu’s innovative approach in serving unique medical device needs in emerging markets.”
The investors in this round include second investments from Camden Partners, Revolution’s Rise of the Rest Seed Fund (Revolution is led by Steve Case, co-founder of AOL), and Belle Michigan. New investors include the Women’s Angel Investor Network of Dubai, Kent & Russell Croft, and Johns Hopkins University Trustee Chuck Clarvit.
“It’s great to have the support such top-level investing talent who have provided so much beyond capital, giving us great advice and insights, especially as we launch Hemafuse in Africa” said Carolyn Yarina, co-founder and CEO of Sisu Global. Receiving the backing of leading VCs and angel investors is a positive sign of their confidence in the company’s future.
Revolution’s Rise of the Rest Fund. J.D. Vance, Managing Partner of the Fund, said “As a fund focused on companies that are transforming industries, we couldn’t be more excited to further invest in Sisu’s work to design medical devices for emerging markets. Sisu is yet another example of a great company starting and scaling outside of the coastal tech hubs.”
Sisu is transforming the way we think about blood access with Hemafuse and is transforming the way we approach medical device design and commercialization in emerging markets.
Sisu Global is a Baltimore-based company with global reach. As Sisu’s newest Dubai-based investors, the Women’s Angel Investor Network (WAIN) of Dubai, put it: “We are pleased to join this funding round for Sisu since we are strong believers in the team, product and market opportunity. We see potential for massive growth across emerging markets where different medtech solutions are needed, ” stated Heather Henyon, the Founder of the WAIN. That is where Sisu sees both a great commercial opportunity and an opportunity to build a better world.
Sisu has also proven to be a capital efficient company. The average medical device of a similar class as designated by the US FDA costs $31M just to get through regulatory approval in the US. With less than 10% of the average development cost, Sisu not only achieved two key regulatory clearances in Africa, but they also launched sales of Hemafuse in Africa.
Carolyn Yarina, Co-Founder and CEO said, “We are excited to announce the launch of Hemafuse in Africa and to welcome our newest investors to the Sisu family.”