Aethon Lands $11 Million in Latest VC Deal
Aethon, Inc., the nation’s leading provider of robotic transport solutions focused on improving clinical productivity in hospitals, has announced the closing of an $11 million financing deal led by Trident Capital of Westport, CT and Palo Alto, CA.
Trident, one of the nation’s prominent private equity firms, is also one of the largest investors in iRobot, a leading developer of mobile intelligent robots for defense, industrial and consumer applications. Trident recently helped guide iRobot through a successful IPO. Trident joined previous investors Draper Triangle Ventures, Salix Ventures, Ascension Health Ventures and Pacific Venture Group in Aethon’s recent funding campaign.
According to Aethon President and CEO, Aldo Zini, the news is a significant boost for the region and the nation’s mobile robotics industry. “This is one of the largest infusions of VC funding into Western Pennsylvania in 2005 representing a continued level of confidence in our company and the region,” said Zini. “Trident provides us with added credibility to promote the successful commercialization of robotics therefore giving Pittsburgh greater visibility as a national robotic powerhouse,” he added.
To date, Aethon’s partnership with its nationally acclaimed investor group coupled with the stellar leadership of its experienced management team has accelerated the firm’s success—Aethon’s sales grew more than 300% over the last year. Trident’s investment will allow the company to double its workforce and expand its customer base nationwide.
Aethon’s flagship product, the TUG, is the most versatile transport system in healthcare. Designed to automate the delivery of a wide range of goods and equipment so clinicians can be more productive, TUG fleets are now at work in
hospitals across the nation, collectively saving nurses, pharmacists and hospital staff from thousands of unproductive trips. And, ongoing studies are documenting impressive results - TUGs are not only helping hospitals improve clinical roductivity, but they are impacting bottom line costs, improving patient safety, elevating employee satisfaction and helping hospitals overcome staff shortages.
