Hike Medical Raises $22.5M to Rewire Device Supply Chains
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Hike Medical has raised $22.5 million across Seed and Series A financing, in a round led by Max Altman at Saga Ventures.
Indicator Ventures, Fifth Down Capital, RiverPark Ventures, Orthofeet, Sam Blond and Jerod Mayo were among the other participants. The company was founded in 2022 and works out of San Francisco. Its manufacturing sits well outside California, in the Midwest.
Hike builds a platform that automates device based care from the moment a referral is written through to the day a device is dispensed. Its work covers the supply chain for orthotics, prosthetics and durable medical equipment, connecting back office administration, point of care documentation and device fabrication for O&P, podiatry and DME providers. The stack pulls together AI powered referral processing, mobile scanning and ordering, and in house 3D print manufacturing.
There are three products under that umbrella. Hike Intelligence uses AI agents to process a referral automatically and push it through approval and payment before a doctor has even seen the patient. Hike Clinical gives clinicians a single workflow for scanning, documenting and ordering at the point of care. Hike Lab handles manufacturing at what the company describes as the largest orthotic 3D print farm in the country, located in Peoria, Illinois, with roughly five business days of turnaround.
The starting point was narrower. Hike began by cutting wait times for custom insoles for people with diabetes, and the new capital extends the same medical device platform into the wider durable medical equipment market.
Spending plans are split between coasts and factory floor. The company is hiring across engineering and sales roles in San Francisco while building out manufacturing capacity in Peoria. CEO Aadi Bhanti runs the business, which sits in a category where access to devices, not the devices themselves, is often the bottleneck.
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