Koning Ends the Year with $2.6M Republic Raise

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Feb 01, 2022, 14:07 ET

NORCROSS, Ga., Feb. 1, 2022 /PRNewswire/ -- Koning, a growing medical device startup company based outside Atlanta, had a successful conclusion to 2021. The company recently finished their first Republic crowdfunding campaign, exceeding capital targets, and raising over $2.6M in only 5 months. Koning's FDA breast screening trial is also underway with participating clinics in Daytona Beach, FL and Knoxville, TN.

"Koning enters 2022 with tremendous momentum both commercially and developmentally," says Koning CEO, Lutao Ning. "A significant time and resource investment will be made towards clinical applications and physician use which is vital to the advancement of upcoming installations. After submitting our trial to the FDA for the screening indication, we'll be able to provide next-generation breast imaging technology to our current and future partner clinics."

At a recent round table, Koning's Lutao Ning observed the changing landscape of medical device funding and women's health investment. "In only a few short years, we have seen a revolution in funding for women's health. Historically, women's health has seen investment levels of less than 30% of men's health, if not worse. Traditional venture capital is slow to invest in women's health, but crowd funding and direct investment platforms have stepped up to fill the gap. We would never have predicted this trend 10 years ago."

New Installations Around the Corner

As Koning's FDA screening trial comes in tandem with an impressive Republic raise, Koning is in the prime position to begin accepting new installation requests for devices in the latter part of 2022. Koning is excited to have several new contracts underway for major cities across the US, which are expected to be deployed in Q2 and Q3 of this year. A full pipeline of installations across North America is complemented with a strong international pipeline of requests for demos, installations, and purchase orders.

About Republic: Republic is a crowd funding platform for accredited investors, helping individual investors, family offices, wealth managers, and private equity professionals access investments previously unavailable to the retail community. Crowd funding and investment platforms like Republic displace venture capital funds and industry by offering competitive fee structures, and more discretionary investment access.

About Koning: Koning is a global Health Technology company that focuses on improving the breast imaging industry with its patented Koning Breast CT (KBCT). Koning's vision is to create a revolution in medical imaging through advanced computed tomography technology that dramatically improves the way clinicians visualize and evaluate breast tissue. The KBCT is expected to optimize early disease detection, diagnosis, intervention, and treatment, and will improve survival rates for millions of patients worldwide.

Koning brings women's health forward.

For more information, please visit Koning's website or email Koning at [email protected].

SOURCE Koning Corporation