# Chestnut Medical Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/chestnut-medical-technologies

- Industry: Biotechnology
- Headquarters: Menlo Park, US
- Website: www.chestnutmedical.com
- Total disclosed funding: $8.5M
- Latest round: Series C (Feb 19, 2008)
- Investors on record: 4

## About

Chestnut Medical Technologies specializes in manufacturing durable metal shooting targets, primarily made from AR500 steel, catering to recreational and professional shooting markets.Chestnut Medical Technologies develops high-quality metal shooting targets for various users. The company is headquartered in Menlo Park, US. In June 2009, ev3 Inc acquired Chestnut Medical Technologies for USD 75 mn. The total amount raised by the company is USD 75 mn through a Trade Sale, indicating a strategic exit for the investors involved in the acquisition.The company’s core offerings include metal shooting targets made from AR500 steel, designed for both recreational shooting enthusiasts and professional users, such as law enforcement and military personnel. These targets are engineered for durability and safety, featuring designs that minimize bullet splatter while providing effective feedback for shooters. The targets cater to a diverse clientele, including hobbyists, professional marksmen, and training facilities across North America and Europe, emphasizing safety features and ease of use.Chestnut Medical Technologies generates revenue through direct sales of its shooting targets and related accessories, focusing on a direct-to-consumer transactional structure. Clients purchase products individually or in bulk for training purposes, ensuring a variety of target designs that accommodate different skill levels and shooting scenarios. The purchasing process is facilitated through an online platform or retail partnerships, fostering direct customer relationships.The company anticipates launching new products aimed at enhancing the shooting experience, although specific release dates are not detailed. Chestnut Medical Technologies is exploring expansion into additional geographic markets beyond North America and Europe, with specific regions yet to be disclosed. The funds from the recent acquisition will likely support these initiatives, including product development and market entry strategies.

## Funding rounds

- Series C, Feb 19, 2008, $8.5M — Olympus Partners, Japan Asia Investment Company, ITX Corporation, Veron International

## Investors

- Olympus Partners (https://capitalatlas.ai/funds/olympus-partners) — Series C
- Japan Asia Investment Company (https://capitalatlas.ai/funds/japan-asia-investment-company) — Series C
- ITX Corporation — Series C
- Veron International — Series C