Last week, medtech startups raised approximately $195M in funding across 6 deals, in addition to other undisclosed deals that were announced. Last month, LSI estimates that over $1.6B in funding was raised by medtech startups.

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

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Top Deals – Medtech Fundraising Transactions for the Week

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:

Hylomorph’s mission is to minimize post-surgical complications with medical implants

Hylomorph is using micro-engineered, biosynthesized cellulose to create seamless pouches for implantable medical devices. The Hylomate Pouch is designed to stabilize the surgical pocket and create a physical barrier between the implant and surrounding tissue. By utilizing a natural biomaterial to separate the natural tissue from the implant, the pouch prevents foreign body reactions and reduces harmful inflammation. Hylomorph recently raised $6.6M from a Series B investment round. The investment will help the company obtain regulatory approval from the FDA and the CE mark. Major medical device implant developers include Abbott, Boston Scientific, and Medtronic.

Droplette raises $15.4M from Series B round

Droplette has developed a needle-free, hand-held device that delivers small molecules (<500 Daltons in size) through the skin. The Droplette device delivers water-based solutions for the dermatological use-cases. Skincare serums are aerosolized, which allows active ingredients to penetrate the skin by up to 20 layers, without drying or irritating the surface of the skin. While Droplette is currently focused on commercialization of their platform for aesthetic and dermatologic indications, the company plans to develop additional application for the delivery of chemotherapeutics and anti-aging drugs.

Dawn Health is developing digital solutions for healthcare

Dawn Health specializes in the development of digital health solutions to improve patient outcomes. The company has launched over 9 unique solutions for the treatment of different conditions, including, male fertility, schizophrenia, irritable bowel disease, and diabetes. The company partners with industry, life science professionals, and technology to continue to develop new digital health interventions. Currently the company has 9 new digital health solutions in development. In December 2021, Dawn Health raised $25M in Series A funding which will support the growth of the company’s portfolio of digital health solutions.

Harrison.ai closes Series B funding, partners with Sonic Healthcare

Harrison.ai announced that it has raised $92M in Series B funding. The investment will be used to help the company scale to critical capacity globally. In addition to the funding, the company announced that it will partner with Sonic Healthcare to co-develop and commercialize new artificial intelligence (AI) solutions for pathology. Harrison.ai will bring its expertise in developing AI-based solutions for healthcare. The company has already successfully launched two solutions prior to its partnership with Sonic Healthcare. Harrison.ai’s most recent solution, Annalise.ai, uses AI to analyze chest X-rays to assist radiologists in the interpretation of radiological images.  

RenalSense – detecting acute kidney injury in critical care

The company commercializes Clarity RMS, a critical care monitoring system that continuously monitors urine flow to monitor for early signs of Acute Kidney Injury (AKI). RenalSense’s system employs patented sensory technology and proprietary algorithms to measure, analyze, and interpret changes in fluid volume with high sensitivity and stability. In November 2021, the company raised $14M in Series A funding to develop the next generation of its renal diagnostics platform and support global commercialization efforts. Draeger, Masimo, and Philips are some of the leading strategics in the critical care monitoring market.

Fluidx Medical Technology – an innovative embolic solution for vascular occlusion

The company has developed GPX, an easy-to-use embolic device to occlude blood flow to internal bleeds, vessel malformations, hypervascular tumors, and other cancer-related uses. GPX uses a low viscosity, aqueous-based embolic agent that is deliver via a syringe through standard catheters and microcatheters. In December 2021, Fluidx announced that it had secured an oversubscribed first trance of Series A financing led by a large, multinational strategic investor. The funding will be used to finance a pivotal clinical trial for market entry. Leading strategics in the embolization agent’s market include J&J and Medtronic.

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