H-P’s “great-grandchild” gets $7.7M for portable diagnosis
Third-generation spinout Alverix, a San Jose, Calif., maker of hand-held devices for medical diagnostic use, raised $7.7 million in a first funding round. Safeguard Scientifics and New Venture Partners provided the cash.
The startup, which just spun out of Avago Technologies — itself a twice-removed spinout of Hewlett-Packard’s component division by way of Agilent Technologies — has spent 30 years producing optoelectronic products of one sort or another. Its current focus lies in developing portable devices… Continue Reading