April was another impressive month of funding for the LSI Alumni, raising over $508 million in new capital across 20 new deals. Our monthly Alumni Funding Update features transactions made by these medical device startups and their investors, as well as links to our proprietary media and coverage of the companies themselves.

Companies featured in the April 2025 update include: 

AMT Medical

Raised $25M in Series B funding to advance the ELANAⓇ Heart Bypass System, a minimally invasive, sutureless alternative to traditional open-heart coronary artery bypass surgery. The system is designed to reduce complications, support robotic integration, and lower procedure costs by more than 50% through a standardized beating-heart technique that avoids sternotomy and bypass machines.

Annaida Technologies

Completed an oversubscribed Pre-Series A round to further develop its micro-magnetic resonance spectroscopy (micro-MRS) platform for non-invasive embryo assessment. Annaida Technologies will leverage the funding to speed up product development and grow its footprint in the fertility and life sciences sectors, with its Embryospin platform already in use at leading academic institutions globally.

Azalea Vision

Secured €9M in the initial close of a €15M Series A round to propel the development of its intelligent ocular health platform and initiate a first-in-human pilot clinical trial. Azalea Vision also named eyecare industry veteran Robert J. Dempsey as Chairman of the Board to help steer strategic expansion across the U.S. and Europe.

Biolinq

Completed a $100M Series C funding round to support regulatory preparations and commercial launch of its intradermal glucose sensor. Biolinq’s biowearable platform delivers continuous glucose monitoring alongside real-time metabolic data, focusing on individuals with Type 2 diabetes who are not using insulin.

Calla Lily Clinical Care

Received £1M in NIHR funding to support the advancement of CallavidⓇ, an innovative device intended to improve progesterone delivery for women facing threatened miscarriage. This first-of-its-kind drug-device combination is designed to minimize medication leakage, enhance comfort, and is now progressing into clinical trials.

Caretaker Medical

Was awarded a $200,000 grant by the Medical Society of D.C. during the 5th annual Capital Healthcare Honors Gala for its FDA-cleared VitalStream platform. The honor underscores Caretaker Medical’s innovation in wireless, continuous blood pressure and hemodynamic monitoring for routine and emergency care.

CMR Surgical

Raised more than $200M in a financing round backed by existing investors and new participant Trinity Capital to drive global growth of its Versius Surgical Robotic System. The funding will support U.S. market expansion and ongoing product innovation, reinforcing CMR’s standing as the world’s second most widely adopted soft tissue surgical robot.

Conavi

Closed a $20 million public offering to support development and pre-clinical testing of its Novasight 3.0 imaging system. The financing will fund regulatory submission efforts, working capital needs, and continued advancement of Conavi’s hybrid IVUS-OCT platform for image-guided cardiovascular procedures.

Cosm Medical

Completed the initial tranche of its Seed Extension round to advance the commercialization of its AI-driven, personalized 3D-printed pelvic health solutions. The funds will support post-FDA clearance growth and enable upcoming clinical presentations at IUGA and other major U.S. women’s health conferences.

Egg Medical

Announced $14.3M in funding to drive the commercialization of its EggNest shielding system for X-ray-guided procedures. Engineered to cut scatter radiation exposure by more than 90%, Egg Medical’s solution provides a safer and more ergonomic option compared to conventional lead aprons.

Field Medical 

Closed a $40M Series A round—comprising $20M in new capital and $20M in converted seed debt—to advance its pulsed-field ablation technology for ventricular tachycardia (VT). The funds will support two pilot studies, continued development of the FieldForce™ Ablation System, and operational scale-up ahead of the company’s pivotal VT trial, VERITAS.

Illumicell AI

Raised $2M in pre-seed funding to accelerate development of the first portable "lab scanner" and real-time AI platform for fluid-based diagnostics, capable of analyzing cells and biomarkers within minutes. Investors include top-tier healthcare operators, clinicians, and early-stage funds such as KOFA Healthcare, Harvard Phoenix Venture Fund, and MedTechSyndicates.

INBRAIN Neuroelectronics

Received a €4M grant from Spain’s PERTE Chip initiative to fast-track the development of its graphene-based brain-computer interface technology. The funding will help INBRAIN advance ultra-precise neuromodulation therapies for neurological disorders and strengthen Spain’s position in deep tech innovation.

Luminate Medical

Awarded €6.4 million under the Irish Government’s Disruptive Technologies Innovation Fund (DTIF) to develop a smart, patient-centred system for at-home cancer treatment. The funding will support the development of Lotus, a device that facilitates the safe administration of low-risk anti-cancer therapies from the comfort of the patient’s home.

OSSTEC

Secured £2.5M to drive the market launch and scaling of its next-generation orthopedic implants. The investment will help Osstec advance its goal of redefining joint replacement using 3D-printed implants that feature biomimetic design and cementless fixation to improve outcomes and speed up recovery.

QV Bioelectronics

Received £1.2M from Innovate UK’s Biomedical Catalyst to further develop GRACE, the company’s implantable therapy for patients with brain tumors. The grant will fund key preclinical work as the company prepares to launch its first-in-human trial for this innovative treatment.

restor3d

Closed $38M in funding with participation from new and existing investors, including Summers Value Partners, to support the commercial launch of four fully 3D-printed orthopedic product lines in 2025 and 2026. The investment will accelerate restor3d’s mission to scale personalized, AI-driven musculoskeletal solutions and expand access to data-backed, patient-specific orthopedic care.

SafeHeal

Raised a €35m oversubscribed Series C funding round to validate its Colovac endoluminal bypass system. The funding round was led by Solar Eclipse and included participation from new investors, including Gideon Strategic Partners and M&L Healthcare. Existing investor Sofinnova Partners also participated.

SamanTree Medical

Closed a Series B extension round led by Karista, bringing total funding to $20M to back the U.S. commercial launch of the Histolog Scanner. Developed by SamanTree Medical, the CE-marked and FDA-cleared device provides rapid, high-resolution imaging of fresh tissue surfaces intraoperatively.

Sidekick Health

Obtained €35M in venture debt from the European Investment Bank (EIB) to advance R&D, enhance its AI-driven digital therapeutics portfolio, and reinforce global platform capabilities. Supported by the InvestEU initiative and a €7M equity boost, the funding enables Sidekick to expand its commercial reach in chronic and specialty care.

Spark Biomedical

Raised $15M in Series A funding to advance the development of non-invasive, drug-free neurostimulation therapies focused on neurological health, bleeding control, and women’s health. Spark Biomedical’s wearable platform uses targeted vagus and trigeminal nerve stimulation to treat complex conditions through precise bioelectronic modulation.

SOMAVAC

Secured $1.2M within one week of launching its $3M Series A round, reflecting strong investor interest in its post-surgical drain management technology. SOMAVAC is gaining commercial momentum in markets including Houston, Denver, San Antonio, North Carolina, Tennessee, and Ohio, and is expanding its sales team to support continued growth.

Transverse Medical

Raised more than $10M in a Series B2 round to advance clinical validation and development of the POINT-GUARD™ Cerebral Embolic Protection (CEP) device, designed to deliver full-brain protection during TAVR procedures. The funding will help Transverse Medical scale operations and progress toward pivotal trials and an FDA IDE submission.

Xeltis

Successfully completed the evaluation stage for a €10M equity investment through the European Innovation Council’s STEP Scale-Up program. The funding will help Xeltis advance the commercialization of its bioresorbable vascular conduit, aXess™, in preparation for pivotal trial results and market launch.

More News

Stay tuned for more updates as these medical technology companies continue to innovate and lead the way in the medtech industry. As we approach LSI Asia '25 in Singapore, these achievements remind us of the incredible progress being made in the medtech sector.