OrthAlign Raises $7.2M

Laguna Beach-based OrthAlign said Wednesday that the firm has raised $7.2M in a Series A funding round, in what looks to be the first announced Southern California venture deal in 2009. The funding was led by Research Corporation Technologies and Okapi Venture Capital, and also included seed investors D. Ronald Yogada, Ned Scheetz, and CEO Pieter Wolters, along with other undisclosed private investors. OrthAlign said it is developing a line of computer-assisted surgical devices for the total joint replacement market. President and CEO Wolters said that the funding will be used to finish developing the firm's first products, and bring them to market.