Last week, medtech startups raised approximately $777.6M in funding across 23 deals, in addition to other undisclosed deals that were announced. LSI tracked 4 deals that exceeded $100M individually. These deals were attributable to Route 92 (neurovascular), Cadence Solutions (telemedicine), Found (digital health), and Tasso (diagnostics). The last week represents one of the biggest weeks for medtech startup funding for the year.
Below are some of the top deals tracked over the past week:
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Top Deals – Medtech Fundraising Transactions for the Week
|
Company |
Type |
Amount Raised |
Round |
|
Customizable insulin delivery platform |
$73.5M |
Series C |
|
|
Optical coherence tomography retinal diagnostic system |
$31.4M |
Series B |
|
|
Laser-based treatment for glaucoma |
$19.8 |
Grant |
LSI's Medtech Startup Tracker is focused exclusively on covering the innovators changing the medical device landscape. Here are some of the interesting startups we’ve recently profiled:
Brainomix – AI-imaging biomarkers to support precision medicine
Brainomix has developed a portfolio of software solutions powered by artificial intelligence (AI). The company’s solutions are designed to scan images (e.g. CT scans) to assist and support the decision making of physicians. The platform currently supports the analysis of brain scans to assess and detect stroke and cancer. On December 16th, 2021, the company announced that it had closed a $21M Series B investment. The company has raised nearly $35M to date.
Sunrise receives $7.3M Seed investment
Sunrise’s Commander device is a 3 gram (<0.5 ounces) sensor designed to collect sleep data from patients to support the detection of common sleep disorders. The Commander sensor measures brain function at night, in addition to respiratory effort, sleep fragmentation, total sleep time, and episodes of apnea/hypopnea. The disposable sensor is designed to make lab quality data on sleep, which typically necessitates a visit to a sleep clinic, more affordable and accessible. According to CPAP manufacturer ResMed, sleep apnea is extremely common, affecting 1 in 3 individuals.
HIGO Sense – a telemedical solution for the collection of health data
HIGO is a portable medical examination device that can be used by patients and healthcare to perform examinations of patients prior to or during a telehealth session. The device is modular, with various adaptors that enable different diagnostics functions, such as a digital stethoscope, otoscope, or derm hood. An accompanying application guides users through the medical examination process and then transmits the data to providers. The Higo device is available in two models for patients and medical professionals. The company recently raised $5.7M from a Series A round on December 20th, 2021.
EndoRon Medical is developing an endovascular solution for abdominal aortic aneurysms
EndoRon Medical’s solution addresses one of the primary challenges of the endovascular repair of abdominal aortic aneurysm (AAA) – variability in patient anatomy. This variability can cause apposition of stent grafts, which in turn can lead to graft migration and leakage and ultimately rupture of the aneurysm. The company’s ZeroNeck device is designed to address this challenge, by securing the device to the aortic wall using a smart stapling mechanism. The device is easily deployed and is intended for use in most types of anatomies. The company recently received its first investment, closing a $5M on December 14th, 2021.
Xander Kardian – continuous vital monitoring using contact-free radar
Toronto-based Xander Kardian develops a more private alternative to remote patient monitoring. Using radar algorithms, the company’s technology detects and interprets micro-vibration patterns to continuously collect data on vital signs, such as resting heart rate, respiratory rate, and general motion. The company recently closed a Series A round which raised $10M in funding. The investment will support the commercialization of the company’s FDA cleared XK300 system.
Apella Technology raises $21M from Series A round
Apella is a digital surgery startup developing an “operating system” for the operating room. The company utilizes a combination of AI and sensors in the OR to collect and analyze surgical data. The data offers unbiased insights for the OR that are intended to improve efficiency, quality, and outcomes. According to the company, the investment will be used to support the implementation of Apella’s technology their hospital partners, expand its team, and develop new components for its core platform.
Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.
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