A group of  current and new investors have signed an agreement with Alter-G, Inc., for providing a combined $2.5 million in Series A1 capital funding. And the company made an official announcement of this agreemant today. The key investors involved in this deal are Frog & Peach Investments of San Francisco, CA, Astrolabe Ventures of Palo Alto, CA, and Funk Ventures of Santa Monica, CA.

Lars Barfod, CEO of Alter-G, while expressing his delightment over this matter said, "We are pleased with the confidence our investors place in our significant opportunity and their trust in management’s ability to execute." Commenting on the technology, products and sales of the company he further added, "Over the past year we have substantially validated our technology, product and target markets. We will use the funds to expand sales and marketing activities, develop new products and intellectual property and conduct clinical trials."

Alter-G Inc., a Silicon Valley company, was inaugurated in the year 2005. And since then it has successfully provided result-oriented, body weight support equipment, and has enabled the individuals in improving their health, in overcoming all sorts of medical challenges, and in recovering rapidly from injuries or surgeries. The gravity differential technology that the company has adopted was developed at NASA. It received FDA approval in February 2008, and since then  major medical centers and physical therapy clinics have shown immense interest in the company’s innovative G-Trainer anti-gravity treadmill.

The company’s patented partial weight-bearing tec hnology enables the patients to run or walk normally while freely adjusting their body weight. It not only reduces the impact on lower extremities but also minimises the risk of further injury. Pain is also eliminated in the process. For so many unique benefits, it is being used by professional athletes, sports teams, private and military hospitals and many health and medical clinics; and also in rehabilitation and training facilities, and top collegiate programs across the U.S.

The G-Trainer also excels in therapeutic treatment programs, which include recovery from any type of lower body disability resulting from disease, injury or surgery, Parkinson’s disease, arthritis, obesity, and sports or aerobic conditioning.

This entry was posted on Tuesday, July 1st, 2008 at 6:10 am and is filed under Venture Capital News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.