Investment Will Help Compression Tech Company Scale-Up
Recovery Force doesn't currently have a signature product line to market
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowA Fishers-based startup that makes compression garments for athletes, hospital patients and the military has landed $3 million in funding. Recovery Force co-founder and Chief Executive Officer Matthew Wyatt says the technology, which is embedded with microprocessors, could have a "significant impact" on how athletes and patients recover in the future. He tells Inside INdiana Business the company’s business model includes licensing its technology to companies and organizations in various fields.
Wyatt says the infusion will help the company scale up product development and commercialization potentially with a global client or product manufacturer.
Wyatt says Recovery Force will use the investment to boost two separate, "very product-specific" spin-offs that will feature Recovery Force technology. The startups will be partially-owned by Recovery Force and the investment will be used for new management and additional support and engineering staff.
Wyatt and Brian Stasey, another co-founder who also serves as executive vice president, joined Inside INdiana Business Television in July to talk about the company. At the time, It had received a Series A funding boost and was awaiting word on a second series of funding, which came as the $3 million investment earlier this month from a group that included an unnamed Massachusetts-based firm.
Matthew Wyatt says the investment will help the company scale-up.