Israeli start-up Cadent has raised $5.3 million in its fourth financing round. The company’s existing investors participated in the round: Pitango Venture Capital, Apax Partners, JP Morgan Partners, and Schroder Investments. Another investor, Isratech Venture Capital Fund, did not participate.
Cadent has raised over $30 million to date. Pitango health care ventures managing director Ruthie Alon said Cadent aimed to raise additional capital this year from new and existing investors to complete development of new products. The current round was needed to hire 15 employees and complete dental surgery products.
Cadent also announced that it had appointed Douglas Stickney as CEO. Stickney founded and ran the Trimeridian gambling treatment center. Cadent founder and former CEO Eldad Taub will henceforth serve as company president.
Cadent develops 3D imaging technology using CAD/CAM digital cameras for orthodontic and crown and bridge surgery. The company is also developing imaging techniques to precisely measure gums before surgery. The company has not disclosed the amount of its sales in the US.
Cadent was founded and registered as a US company in 1994. Based in New Jersey, it maintains a development center in Or Yehuda, Israel, and has 135 employees.
Published by Globes [online] - www.globes.co.il - on May 18, 2003