Precision Ventures, a design firm from a team with a strong track record of developing innovative consumer products and licensing them to global brands, announced today the successful close to its initial funding for the Precision Ventures II fund.

The new funds will be used to develop Precision Ventures II's new portfolio of consumer health products and medical devices. Since its inception in 2012, the Precision Ventures team has licensed the rights to all three of the products it has developed, positioning initial Precision Ventures investors to make a significant return on their original investment within five years.

"The blend of science, speed of development, visual appeal, scalability and forward-thinking our team pours into each product is why we're batting 100% when it comes to licensing our products," said Josh Wiesman, President and CEO, Precision Ventures. "We appreciate our investors' support and confidence in our business model and will continue to work hard to provide significant returns while doing what we do best: bringing products to life that simplify and improve people's lives."

Precision Ventures' primary focus is building consumer health products that add value from both a visual and scientific perspective. Successful deals have been made with multiple global brands including TOMY, Inc. (The First Years), Miomee, and Tommee Tippee. Products developed by the Precision Ventures team include pacifiers and sippy cups that minimize dental issues later in life as well as modern countertop and portable sterilizer systems that, among other things, provide parents with a convenient solution for maintaining sterility of baby products at home and when on-the-go.

"Our initial investment in Precision Ventures was predicated on the leadership team's proven track record to build novel products and license them successfully to global brands for mass distribution," said Hambleton Lord, Managing Director at LaunchPad Venture Group. "We jumped at the opportunity to invest again and are excited to see what's in store next."

Precision Ventures II's investors include firms such as LaunchPad Venture Group and River Valley Investors as well as individual investors. The vast majority of the original investors in Precision Ventures participated in funding Precision Ventures II.

About Precision Ventures

Precision Ventures and Precision Ventures II are design firms based in the Boston area that are led by an elite management team which includes CEO and Biomedical Engineer Josh Wiesman, CMO and Anesthesiologist Hari Sundram, M.D. and Design Director Keith Tritschler. The Companies' business models are predicated on two aspects: identifying market opportunities and tailoring product development to individual licensees for manufacturing, sale and distribution of commercial products. Successful deals have been made with multiple global brands including TOMY, Inc. (The First Years), Miomee, and Tommee Tippee. To learn more visit www.precisionventures.com.

For media inquiries:
Schwartz MSL
Sherry Feldberg/Paul DiPerna, 781-684-0770
PrecisionVentures@schwartzmsl.com
or
For investor inquiries:
Precision Ventures
Josh Wiesman, 781-530-3728
josh@precisionventures.com