Plug and Play, a Silicon Valley-based startup business accelerator with a branch in Cleveland, has invested in a local medical device company called Sotera Medical Corp.
Sotera Medical is developing a device designed to protect the esophagus during high-energy catheter ablation procedures used to treat atrial fibrillation, an irregular heatbeat that can cause dangerous complications.
Plug and Play was drawn to Sotera Medical because of the company’s “compelling technology and impressive team,” said Chantel Moody, platform director of Plug and Play Cleveland.
“We’re committed to finding great startups in the region and pleased to join a seasoned group of investors to propel this technology forward,” Moody stated in a news release announcing the investment.
Plug and Play officially launched its Cleveland branch earlier this year when it selected 12 health technology startups based outside of Northeast Ohio to go through its 12-week accelerator program at the Global Center for Health Innovation in downtown Cleveland.
In the news release, Sotera Medical CEO William Fuller noted that Plug and Play’s “innovation platform and corporate connections are a major benefit for Sotera.”
Read the full story at Crain’s Cleveland Business.