MORRISVILLE – Medical device manufacturer Gilero Group, LLC, has raised $4,489,115 of a possible $11.5 million investment round, according to an SEC filing signed by company founder and CEO Ted Mosler.

According to a statement, the company will use the funds as growth capital to open new design centers in Chicago, New Jersey, and Ireland, as well as the addition of a manufacturing location in Tijuana, Mexico and the expansion of its manufacturing operations in Pittsboro, N.C.

“Gilero decided to take on minority equity investment in order to accelerate plans for growth and expansion,” said Ted Mosler, CEO of Gilero. “Part of our overarching strategy at Gilero is to be close to our customers and continually add to our expertise and service offerings to meet their needs. This funding provides us the resources to execute on that strategy. We’re excited to grow our team and our reach and continue delivering value to our customers.”

60 jobs head to Pittsboro as medical device manufacturer expands

The company, headquartered in Morrisville, describes itself as a “trusted partner for medical and drug delivery devices” on its website and the company also offers contract manufacturing services.  In addition, according to its website, the company contains a venture arm, which serves to “provide additional value for customers by bringing more medical device and drug delivery products to market.”

The fundraising round is an equity raise, with a total of four investors thus far, and the offering will remain open for more than a year.

The company website states it has 154 issued patents, 250 clients, and has been operating for 19 years.  The company also holds a design office in Carlsbad, California, and partners with Medacys, which operates a facility in Shenzhen, China.  The company is currently hiring in California and in Morrisville.

Gilero used 3D printers to manufacture protective equipment for healthcare workers during 2020, when it employed about 50 people.  The company was formerly known as EG-GILERO and announced it would expand into Pittsboro in 2019, bringing 60 jobs to Chatham County with average wages of $44,317, according to a five-year economic development incentive agreement.

Gilero did not respond to a request for comment from WRAL TechWire.