Medtech Startups Competing with Elekta, Accuray, Abbott, Dexcom

Published on Jun 9, 2020

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LSI's Medtech Start-Up Tracker is focused exclusively on covering the privately-held innovators changing the medical device landscape.  

Alpha Tau Medical is actively recruiting patients for clinical trials testing its targeted radiation therapy technology
The company is recruiting patients worldwide to test its Alpha DaRT cancer treatment solution for skin, oral cavity, breast, and pancreatic cancers. Alpha Tau Medical recently raised $26M in a Series B round. Other notable competitors in the targeted radiation therapy market include Elekta, Accuray, and RefleXion.

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Swiss bioelectronics company, IDUN Technologies, is innovating electrode technology for wearable devices
IDUN Technologies partners with the consumer electronics industry to integrate its dry electrode technology into wearable devices. The company recently completed a seed round lead by multinational conglomerate, Sony, worth $1.6M. 

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A new approach to evaluate the malignancy risk of lesions is in development at DermaSensor
The easy-to-use skin cancer diagnostic is an affordable device that utilizes spectroscopy and machine learning to rapidly evaluate the risk of skin lesions. To-date, the company has raised $14.6M, recently concluding a $11.5M Series A round in June. SkinVision and MoleScope are developing similar solutions to monitor and evaluate cancer risk of skin lesions.

Kumovis is developing a 3D printing system for medical applications
The company’s technology rapidly prototypes and manufactures personalized implants. Kumovis is now developing an integrated clean room for their R1 3D printer. On June 1, 2020, the company completed a Series A round, raising $4.1M. 3D printing has become increasingly more prominent, particularly for the development of personalized implants for patients.

Integrated diabetes management developer, Bigfoot Biomedical, raises $55M in recent Series C round
Following the latest round, the company has raised $195M in funds. The company plans to utilize funds to pursue product development and regulatory approval for the Bigfoot Unity System, a real-time, dose-decision support system for diabetics requiring insulin therapy. Other competitors in this market include Abbott, Dexcom, and Insulet Corporation.

Vara is developing an AI support system for mammography
The platform helps radiologists focus on suspicious cases, accelerating routine mammography screening in patients and saving healthcare providers time and money. Vara completed its first round of fundraising, raising $7M from investors at OMERS Ventures, Think.Health, Soleria Capital, Merantix, and Plug & Play.

Artificial intelligence is being leveraged at Overjet to improve patient care and profitability in dentistry
The company is developing software to help dentists determine which treatments are necessary for patients based on AI interpretations of dental imaging. Overjet recently raised $7.9M in funds in a Seed round lead by Crosslink Capital and E14 Fund.

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Topics: Medtech, Medtech Venture Capital, Startup, Strategics

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