16 Feb CAV Angels is significant investor in UVA spin-out medical technology company Springbok Analytics
In December 2020, CAV Angels ended the year with the largest seed round group investment in the organization’s four-year history, supporting Charlottesville based, UVA spinout Springbok Analytics with $465K in funding as part of Springbok’s $1.6 million capital raise. Invented by UVA Professors Silvia Blemker, Craig Meyer and Joe Hart, Springbok’s AI-powered software platform transforms MRIs into 3D analyses to enable precision medicine, giving a wide range of healthcare providers unique insight into an individual’s musculature to inform the design and implementation of personalized injury management and performance optimization programs.
“Our group investment in Springbok’s successful seed round demonstrates our potential to be both a significant player in the regional, early stage ecosystem and our capability to be a lead investor in the near future,” said CAV Angels co-founder and co-chair Rich Diemer. “We are clearly moving up the capital stack.”
Scott Magargee, CEO of Springbok Analytics, said the company is pursuing both the athletic and government markets with their current product. With the seed round now raised, Magargee is focused on commercialization, expanding the research and development efforts for additional applications of the technology, and building out the team.
“I have always believed that Charlottesville has a substantial network of resources and innovation, thanks to UVA and the greater entrepreneurial ecosystem, which certainly includes CAV Angels,” Magargee said. “As a major investor, they signaled to both the Charlottesville community and beyond that this was an investable idea and that we’re on the path to big things.”
More on Springbok Analytics here.