Startup with needle-free way to draw blood raises $5M

February 5, 2015 | Philadelphia Business Journal by Lauren Hertzler

Velano Vascular announced Thursday that it raised $5 million in Series A funding.

The investment round was led by First Round Capital, which co-invested in Velanolast year with Startup PHL (a $6 million seed-fund initiative created by First Round and the PIDC).

Other Velano investors include Safeguard Scientifics and the Children’s Hospital of Philadelphia, as well as Philadelphia outsiders White Owl Capital (New York), Kapor Capital (California) and Griffin Hospital (Connecticut).

The Philadelphia and San Francisco-based company, which is just starting to come out of the woodwork, has created a needle-free method for drawing blood from hospitalized patients, ultimately “bringing compassion into care,” said its co-founder and CEO Eric Stone. Stone founded the company with Pitou Devgon, who invented Velano’s technology. …

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Philly entrepreneurs find home in new Center City working space

February 2nd, 2015 | Philly Metro

For Sinae Pitts, 41, her app design company is finding its feet now that it has moved to Center City.

“Philadelphia is this size where you really can be part of the community,” said Pitts, originally from New York City. “I know most of the people in the tech community and the startup community.”

Pitts’ company, AMMO, (founded in 2008 as Amphetamobile, before “Breaking Bad” became a hit, she said), used to be based out of her converted garage in Upper Darby.

Now they have two offices and two dedicated desks at Pipeline Philadelphia, a new shared workspace in Center City that opened in December.

“The day we moved in I tweeted on our account, ‘We have arrived,’ and I really feel that way,” Pitts said.  “The atmosphere here, the professionalism, the design aesthetic is something we couldn’t find anywhere else.”

Pitts said she feels proud to welcome clients to the new office space, which boasts an aesthetic design few other Philly offices can match.

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