Courtesy / KinoTek
KinoTek's digital health platform uses proprietary technology, including 3D visualization and quantitative measurements, to help movement clinicians get faster, objective measurements and better engage clients.
Updated: October 7, 2021
Portland digital health startup KinoTek raises $2.1M in VC funding
KinoTek, a Portland-based developer of a digital health platform for body-motion assessment, has raised $2.1 million in venture capital.
The investors are led by the Orlando, Fla.-based Lake Nona Fund, a $30 million venture fund that invests in sports and health technology startups. Other investors in the seed round include the Maine Venture Fund and Florida-based Bridge Angel Investors, KinoTek announced Wednesday.
The news follows KinoTek's participation in the inaugural cohort of the 1eAD Lake Nona accelerator program for sports and health tech innovators. The company is the first graduate to receive significant funding from the Lake Nona Fund, and was the only New England business selected from nearly 500 startups for the program.
Earlier this year, KinoTek raised $600,000 in a pre-seed funding round that was oversubscribed.
KinoTek currently employs a dozen people and aims to hire more front-end developers. CEO and founder Justin Hafner told Mainebiz on Thursday that the $2.1 million raised from the latest funding round "is allowing us to launch our platform and begin fulfilling demand from our waitlist.
Hafner said the funding will also enable teh company to make key hires in engineering and begin building KinoTek's sales team at the start of next year.
Earlier, a spokesperson for the company told Mainebiz the company anticipates launching its product in the first half of 2022 though physical therapists, athletic trainers and chiropractors across hospitals, professional sports teams and private practices. Some are already using the platform and helping the company refine its database of analysis and insights.
KinoTek, which won the 2019 "Greenlight Maine Collegiate Challenge," said it aims to revolutionize movement analysis through its platform, which uses proprietary technology including 3D visualization and quantitative measurements to help movement clinicians obtain faster, objective measurements and better engage clients.
Hafner, who studied kinesiology and was a college team swimmer who suffered a debilitating shoulder injury, paired with biomedical engineer David Holomakoff to start KinoTek three years ago.
The idea was sparked by Hafner's own physical recovery journey and frustration that he could not be more a part of his own therapy because he had no data or insights as to what was happening with his body.
"The real value besides the objective data," Hafner said, "is the visualization that draws in clients to become part of their own recovery. KinoTek gives clients the ability to immerse themselves in their rehab process."
Thomas Rudy, principal of the Lake Nona Fund, said the fund is excited to support and work with KinoTek to drive innovation in digital health, adding that the startup's team and technology "are highly impressive and well-positioned to be a major player in movement analysis."
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