August Medtech Funding

Across the Medtech industry, monthly funding decreased compared to July. Using insights powered by Medtech Pro, by LSI below is a breakdown of August 2023 financing in Medtech (excluding pharma and drug therapy financings).

LSI Alumni August 2023 Funding Update

August was another impressive month of funding for the LSI Alumni raising over $117 million across 10 deals + 1 acquisition.

Advanced NanoTherapies

●      Raised a $4M Series A extension from a prominent undisclosed strategic medical device company.

●      Treated the first cohort of study participants in its ADVANCE-DCB first-in-human trial, demonstrating initial short-term safety data for the next-generation SirPlux Duo Drug-Coated Balloon (DCB).

Avisi Technologies

●      Awarded $500,000 as part of the Phase IIB Small Business Innovation Research (SBIR) grant by the NSF.

●      The funding will support research and development of VisiPlate, a next-generation aqueous shunt meant to treat patients with glaucoma.

Watch Avisi Technologies’ presentation from LSI USA ‘23.

Backpack Healthcare (FKA Youme Healthcare)

●      Announced that Youme Healthcare acquired Hurdle and rebranded as Backpack Healthcare.

●      With this new brand, the company is bringing  together Youme's expertise in pediatric mental healthcare with Hurdle's revolutionary approach to caring for marginalized groups.

Watch the panel featuring Backpack Healthcare Founder & CEO from LSI USA ‘23.

Day Zero Diagnostics

●      Awarded a Phase I SBIR grant from the National Institute of Allergies and Infectious Disease (NIAID) of the National Institutes of Health (NIH).

●      The award funds the development of epiXact® FMT, a pharmacovigilance assay to enhance safety and efficacy in fecal microbiota transplant (FMT) clinical trials.

Watch Day Zero Diagnostics presentations from LSI USA ‘22 and LSI USA ‘23.

Delphinus Medical Technologies

●      Raised $12 Million in growth capital from Trinity Capital Inc.

●      The funds will be used to drive continued commercialization of SoftVue™ 3D whole breast screening ultrasound tomography system for screening women with dense breasts.

Watch Delphinus Medical Technologies’ presentations from LSI USA ‘22 and LSI USA ‘23.

Diality

●      Raised a $28 Million investment round.

●      The funding will be used to support Diality’s 510(k) filing and pre-commercialization activities through initial commercial launch targeting hospitals, skilled nursing facilities, and de novo clinics.

Watch Diality’s presentations from LSI USA ‘21, LSI Europe ‘22, and interview from LSI USA ‘23.

Linshom Medical

●      Closed a $650k Series A funding round with investment from Abell Foundation and TEDCO.

●      Linshom Medical is the first to deliver an operating room quality respiratory profile to the patient bedside (or home) for continuous, predictive respiratory monitoring (CPRM).

Watch Linshom Medical’s presentation from LSI USA ‘23.

Ronovo Surgical

●      Raised a $26M financing round led by NRL Capital with participation from new investor Kington Kapital, along with all existing shareholders including Lilly Asia Venture, Vivo Capital, Matrix Partners China, GGV Capital and LongRiver Investments.

●      The capital will be used to help accelerate commercialization efforts for Carina in China and beyond.

Watch Ronovo Surgical’s presentation from LSI USA ‘23.

Shoulder Innovations

●      Secured a $45 Million debt facility partnership with Trinity Capital. This is in addition to SI's recent $42M Series D equity financing, which closed earlier this year.

●       This additional capital will bolster efforts to rapidly expand both commercial and technology initiatives for the company.

Watch Shoulder Innovations presentation from LSI USA ‘22.

Surgibox

●      Raised a Seed round of funding led by Ambit Health Ventures.

●      The company plans to use the funds to expand its team, build additional prototypes, and conduct clinical trials.

Watch Surgibox’s presentation from LSI USA ‘21.

UpLyft

●      Closed an additional $1.2M in financing as part of its Seed Preferred Stock Round.

●      The funds will be used to complete the company's 2nd manufacturing run of UpLyft independent bedside transfer systems (already 60%+ pre-sold out).

Watch UpLyft’s presentation from LSI USA ‘22 and LSI USA ‘23.