LSI Alumni Funding Report Q3 2025

In Q3 of 2025, LSI Alumni raised over $925 million across 40+ deals, including two M&A transactions and two IPOs. Our quarterly Alumni Funding Report features transactions made by these medical device startups and their investors.

To view the full report with the deals, companies, and investors involved, sign up for a free Compass account here. Here’s a quick look at a few of the deals:

Company

Amount

Type/Stage

Lucida Medical

£2.25M

Grant

RECORNEA

€1.2M

Seed

Cooler Heads Care

$11M

Series A

Field Medical

$35M

Series B

Galvanize Therapeutics

$100M

Series C

GT Medical Technologies

$16M

Series D

Lucida Medical

Lucida Medical was awarded a £2.25 million SBRI Healthcare contract to expand deployment of its AI-powered prostate cancer diagnostic platform across the NHS. The funding supports implementation of Lucida Medical’s Prostate Intelligence™ system in up to 15 hospitals, where it will accelerate diagnosis, reduce unnecessary biopsies, and improve access to earlier, more accurate care.

Investors/Deal Details: Small Business Research Initiative (SBRI) Healthcare

RECORNEA

RECORNEA closed an oversubscribed €1.2 million Seed round to advance minimally invasive corneal disease therapies. The funding supports RECORNEA’s first-in-human clinical trial of the GROSSO Reshaper for keratoconus and enables continued development of its minimally invasive super-elastic nitinol solutions.

Investors/Deal Details: ENEA Tech e Biomedical (led), B Heroes, Caique Holding, DN Lemans, Scientifica, and Health Wildcatters

Cooler Heads Care

Cooler Heads Care closed an $11 million oversubscribed Series A round to scale Amma™, the only FDA-cleared portable scalp cooling system. The financing will expand the manufacturing and rollout of Amma™ to help chemotherapy patients preserve their hair, privacy, and dignity during treatment.

Investors/Deal Details: Mutual Capital Partners (led), SHD Partners, Crescent Ridge VC, Cal Innovation Fund, NuFund, Robin Hood Ventures, Golden Seeds, HIP VC, and an unnamed strategic investor

Field Medical

Field Medical closed an oversubscribed $35 million Series B to advance development of the FieldForce™ pulsed-field ablation system. The funding will support initiation of the pivotal VERITAS trial, scale clinical and regulatory operations, and accelerate progress toward commercial readiness in ventricular tachycardia care.

Investors/Deal Details: BioStar Capital (led), Cue Growth (led)

Galvanize Therapeutics

Galvanize Therapeutics raised an oversubscribed $100 million Series C. The funds will be used to expand the company’s commercial footprint and advance its clinical and development activities related to Aliya PEF in solid tumors and RheOx therapy for chronic bronchitis, while also supporting continued innovation of its non-pharmacological PEF technology.

Investors/Deal Details: Sofinnova Partners (led), Norwest Venture Partners, Elevage Medical Technologies, Ally Bridge Group, Perceptive Xontogeny Venture Fund, Janus Henderson Investors, Longaeva, Fidelity Management & Research Company, T. Rowe Price, Gilmartin Capital, Intuitive Surgical, and Apple Tree Partners

GT Medical Technologies

GT Medical Technologies completed the final close of an oversubscribed $53 million Series D to accelerate U.S. commercial expansion and clinical trial programs for GammaTile. The additional $16 million will support continued growth efforts and enable completion of two randomized controlled trials for patients with newly diagnosed brain metastases and glioblastoma.

Investors/Deal Details: FemHealth Ventures, Warren Point Capital, an undisclosed strategic investor, and all existing investors from the $37M raise earlier in the year

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