October was another impressive month of funding for the LSI Alumni, raising over $128 million in new capital across 12 new deals. Our monthly Alumni Funding Update features transactions made by these medical device startups and their investors, as well as links to our proprietary media and coverage of the companies themselves.
Companies featured in the October 2024 update include:
Received a $7.45M sole-source, non-dilutive small business innovation research (SBIR) Phase III contract from the United States Air Force. Amsel develops SCureClamp™, an FDA-cleared and CE-marked mechanical surgical clamping technology delivered directly through a minimally invasive 18 G needle.
Received Stage 2 funding through the ANDHealth+ program. Atmo developed the AtmoⓇ Gas Capsule System, an ingestible capsule designed to profile gases in the gut to improve the diagnosis and treatment of gastrointestinal disorders.
Was awarded the $525,000 grand prize in the NIH Rapid Acceleration of Diagnostic Technology for Maternal Health Challenge. The company’s flagship product, VitalStreamⓇ, provides continuous hemodynamic monitoring via a finger sensor and tablet interface.
Announced a strategic investment with Labcorp Venture Fund and the Alzheimer’s Drug Discovery Foundation’s Diagnostics Accelerator. The company develops the GLX Signature Platform, which utilizes novel vascular biomarkers and AI technology to enable early detection and monitoring of autoimmune, neurodegenerative, and neuropsychiatric conditions.
Closed a $50M Series B funding round led by imec.xpand. The funds will be used to accelerate the development of its graphene-based BCI platform, which is designed to decode brain signals into medical solutions in the neuroelectronic therapeutics field.
Closed a €750k funding round with SWEN Capital Partners. The company is developing AI-driven digital twin models of the heart to improve the precision and efficiency of image-guided ablations.
Raised a $28.5M Series B funding round led by RA Capital Management. The company is developing percutaneous, heterotopic cross-caval solutions for tricuspid regurgitation and right-sided heart disease.
Raised a €17.9M Series B funding round co-led by LSI Alumni investors Panakes Partners, TechWald Next S.p.A, and CDP Venture Capital SGR's Digital Transition Fund. The company will utilize the funds to finalize the clinical validation of its LymphoDrain device aimed at treating lymphedema.
Was awarded a $100K prize in a pitch competition for regenerative medicine companies. The company develops OmegaSkin™, which uses a soybean plant-based protein spun into a mesh patch to generate an extracellular matrix for wound closure.
Raised £3.8m in a funding round led by Mercia Ventures to scale its global operations. The company develops computer vision technology to instantly validate surgical trays, instruments, and implants.
Closed its $15M Series A-2 financing. A portion of the funds will be used to support the company’s 304-patient randomized control trial for its EchoMarkⓇ and EchoSureⓇ, Maturation of Arteriovenous Fistula with Automated Sonography Assessments (MAFASA) clinical trials.
Secured €2.2M in funding for developing its digital catheter-based device for treating fluid buildup in the body due to late-stage cancers. The company is an early-stage startup focused on developing patient-centered solutions in palliative care.
Stay tuned for more updates as these medical technology companies continue to innovate and lead the way in the medtech industry. As we look forward to LSI USA '25 in Dana Point next March, these achievements remind us of the incredible progress being made in the medtech sector.
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