New York City-based SOLS, maker of 3D printed insoles, has raised $11.1 million from Tenaya Capital and Melo7 Tech Partners as well as existing investors Founders Fund and Lux Capital. This brings the company's total funding to date to $19.3 million since SOLS launched in July 2013.
SOLS has developed a tablet-based app for providers that instructs them to take three pictures of a patient's feet and extracts "thousands of data points" to create a virtual model of them. The image capture process takes 15 minutes, according to the company. The model is used to design an insole that is further customized based on the patient's weight, activity level, and shoes. From there, SOLS will 3D print the insoles and send them to the patient within six days or less.
"The images are measured with deep learning algorithms and computer vision techniques, enabling us to generate unique 3D impressions of the individual’s feet," SOLS explains on its website. "Key data points are selected, taking into consideration soft tissue contours and boney prominences to generate the 3D contours of the SOLS. The 3D models are further customized based on the features a provider selects to account for biomechanical misalignments."
The product is currently only available for patients through provider partners, including podiatrists, chiropractors, and physical therapists. The company currently has a network of over 300 medical professionals.
SOLS will use the newest round of funding to prepare for its direct-to-consumer launch. The company also added NBA basketball team Dallas Mavericks CEO Terdema Ussery to its board of directors.
Last month, SOLS partnered with WebPT, a web-based electronic medical record (EMR) offering for rehab therapists. Through this partnership, the 43,000 rehab therapy professionals in WebPT's member base were given access to SOLS' technology at a discounted price.