ORLANDO, Fla. - October 6, 2021 - (Newswire.com)
Today, the digital health platform KinoTek announced its US$2.1 million seed round. The round was led by the Lake Nona Fund, an early-stage fund that invests in ambitious and innovative founders and companies from the Sports & Health Tech world.
KinoTek is the first startup to receive significant funding from the Lake Nona Fund. The Portland, Maine-based software company was originally selected from nearly 500 startups into the leAD Lake Nona accelerator program in 2020 and is one of the program's first graduates.
After suffering a devastating shoulder injury as a Division I collegiate swimmer, Justin Hafner, KinoTek's founder, was inspired to develop a solution that removed the subjectivity of musculoskeletal (MSK) rehabilitation. He then partnered with co-founder David Holomakoff, an experienced biomedical engineer with expertise in biomechanics, to create software that enables a full-body movement assessment in seconds.
"Our company's digital health platform improves the evaluation process for therapists, chiropractors, and sports medicine professionals by leveraging objective data and 3D movement visualizations that enhance communication and improve medical outcomes," said David Holomakoff, co-founder and Chief Product Officer of KinoTek. "We use data to help build trust between the movement clinician and patient by visually showing the efficacy of treatment."
KinoTek is already used in some of America's largest hospitals, as well as pro sports teams and clinicians worldwide.
"We are pioneering the way MSK should be. Our innovative combination of machine learning, human-computer interaction, and motion capture technologies are unique in the MSK field," said Justin Hafner, CEO and founder of KinoTek. "Most companies in this space are focused on the payer or employer, but KinoTek is focused on the patient. KinoTek will provide software to movement clinicians (PT, Chiro, outpatient) and then develop MSK software for the consumer market."
The round was supported by Maine Venture Fund, Bridge Angels, and other investors and will enable the company to grow further and enhance the quality of care based on a fast, accurate, and objective movement analysis software.
Thomas Rudy, Principal of the LN Fund, is convinced about the bright future of the company. "We are excited to be KinoTek's lead investor in this round and look forward to working with Justin and his team to drive innovation in the digital health space. KinoTek's technology is highly impressive and well-positioned to be a major player in movement analysis. The team as well as the technology convinced us to make this company our first investment. We are thrilled to work together on KinoTek's mission."
About Kinotek:
KinoTek, Inc. is a digital health platform that improves the evaluation process for physical therapists, chiropractors, and sports medicine professionals. Kinotek is headquartered in Portland, Maine, and led by co-founders Justin Hafner (Front Office Sports Rising 25) and David Holomakoff. The company's flagship software uses objective, quantitative movement data and immersive, 3D visualizations to solve the communication gap between the patient and professional and improve quality of care. The technology allows patients to leave PT, chiropractic or training sessions with a better understanding of their body, movement, and treatment progress. After three years of development, KinoTek oversubscribed its beta testing program and is currently being used by movement clinicians worldwide.
To learn more, please visit Kinotek.com.
About Lake Nona Fund:
The Lake Nona Fund invests in early-stage companies shaping the future of sports and health technology. The $30 million Fund focuses on three investment areas: Health & Well-being, Fan Engagement, and Connected Athletes. Located in Lake Nona — an Orlando-based tech community heralded as the Silicon Valley of sports and health tech — the Fund scales the best sports and health tech companies in the world, providing access to the foremost domain experts and industry leaders, world-class infrastructure, and smart capital. For more information, please visit www.lakenonafund.com.
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Original Source: Software Company KinoTek™ Closes Multi-Million Dollar Seed Round by Securing leAD Lake Nona Sports and Health Tech Fund as Lead Investor
