Medtech Startups: Activ Surgical, Alva Health, NovaSignal, & more

Published on Oct 5, 2021


In this past week in medtech deals approximately $102.5M in funding was raised across 9 deals, in addition to other undisclosed deals that were announced. Total weekly funding declined 45% from last week’s $186.1M in funding.   


Below are some of the top deals tracked over the past week:

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Top Deals – Medtech Fundraising Transactions for the Week



Amount Raised


Activ Surgical

Endoscopic device to enhance imaging


Series B


Robotic cerebral ultrasound system


Series C


Next-generation bio-wearable


Series A

Top deals for the week are based on publicly available information. At this time of this article’s publication, new deals for the week may have been announced.


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:


Activ Surgical closes Series B round, raises $45M

Digital surgery startup Activ Surgical announced that it recently secured $45M in funding. Funds from the round will be used to support commercialization of its solutions in the US, as well as pursue regulatory approval in Europe. Activ Surgical is developing an attachment that enhances the capabilities of any endoscopic system. The ActivSight imaging module attaches between the endoscopy system and camera system to offer surgeon real-time visualization data currently inaccessible to traditional endoscopic imaging systems. Key strategics in the endoscopic imaging market include J&J, Medtronic, and Olympus.


Alva Health – a real-time, wearable stroke monitor

Each year nearly 1 million Americans suffer an ischemic stroke. Time is the most critical variable when managing stroke, as delays in receiving medical attention can result in permanent injury or death. To address this need for rapid detection of stroke, Alva Health is developing a wearable medical device that can be worn by patients and accurate detect stroke in real-time. In late September 2021, the company was awarded $350,000 as for being selected for the MedTech Innovator startup competition.


NovaSignal raises $37M from Series C round

The investment to finance commercialization efforts and initiate new clinical trials to expand the company’s technology into new indications within and beyond stroke. NovaSignal develops and commercializes the FDA-cleared NovaGuide Ultrasound system. NovaGuide harnesses artificial intelligence (AI) and robotics to provide clinicians with a fully automated solution for evaluating cerebral blood flow in the major arteries and veins of the head and neck. The NovaGuide platform helps physicians evaluate patients with severe neurological conditions including stroke, dementia, and traumatic brain injury. GE Healthcare, Philips, and Siemens are some of the leading competitors in the global ultrasound market.


Meru Health – digital health platform addressing mental health

Finnish digital health startup Meru Health has developed a comprehensive program for the treatment of some of the most prevalent mental health conditions. Patients follow a 12-week program that combines clinical and community support with a personalized treatment protocol. Major components of the personalized treatment protocol include cognitive behavioral therapy and teaching biofeedback practices to empower patients to better manage their mental health. The company has raised an estimated $51.3M in total funding.


Cryosa is developing a permanent therapy for OSA

Over 20 million Americans suffer from obstructive sleep apnea (OSA). Continuous positive airway pressure (CPAP) is the most common treatment for OSA, though there are several limitations to the therapy including: patient discomfort, poor compliance, and impermanence of treatment. While surgery is an option to reduce the symptoms, procedures are often invasive and reserved for patients with severe OSA. Cryosa is committed to the development of minimally invasive, permanent therapies for the treatment of OSA. On September 23, 2021, Cryosa announced that it closed a Series B round which raised $21.5M in funding. Cryosa stated that the funding will be used to initiate the next phase of clinical trials for the company’s OSA therapy. The close of this recent round brings Cryosa’s total funding amount to $29.8M.


Endimension closes first-ever Seed round

Endimension is a healthcare AI startup developing algorithms to support the detection of abnormalities and diseases from medical images. The company’s platform, ENDIM-AI-CXR, is initially being developed to evaluate chest X-rays for evidence of COVID-19 to help radiologists improve efficiency and reduce misdiagnoses. According to Endimension, the company’s technology is currently being used in approximately 100 radiology labs and hospitals in India. AI image analysis has become a “hot” market for startups and major competitors. AI offers opportunities to address needs for better diagnoses and more efficient healthcare delivery. Furthermore, AI image analysis offers a potential remedy for the radiology workforce, which is projected to realize shortages in the number of radiologists by 2032.


Learn about the hottest venture funded startups developing innovative medical technologies using Life Science Intelligence’s Medtech Startup Tracker.

Topics: Medtech, Startup, Strategics, Insider, Medtech Innovation Weekly Update

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