Foundry Innovation & Research 1, Ltd. (FIRE1) today announced it has closed its Series B financing, appointed Conor Hanley as President and CEO, and added other new senior leaders to its team. The company is developing a novel remote monitoring device.
The Foundry was behind one of the largest venture-backed medical device exits last year — the purchase by Medtronic of stealth mitral valve replacement player Twelve for up to $458 million. Fire1 is its fifteenth company founded in its 18 years — with at least 7 acquisitions as a result.
The financing includes existing investors Lightstone Ventures and New Enterprise Associates, as well as Medtronic.