Aug 17, 2020

Medtech Start-Ups: Transformative AI, Nanox Imaging, Eargo & more


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

Transformative AI is developing predictive patient monitoring software

The technology is being developed to identify patients at imminent risk of sudden cardiac arrest using machine learning techniques employed at CERN’s Large Hadron Collider. Transformative AI recently completed a Seed round valued at $1.7M with backing from InHealth Ventures, Tera Ventures, and Wellcome Trust.

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A novel digital X-ray system with a unique design is in development at Nanox Imaging

The company’s Nanox.ARC is a compact digital X-ray system with a unique halo-shape. Nanox raised $59M in a late-July Series B round. Funds raised will primarily support the global deployment of Nanox.ARC. Major competitors in the X-ray devices market include Agfa, GE Healthcare, and Siemens.

Rapid Complete Blood Count (CBC) detection from Sight Diagnostics

Sight Diagnostics are the makers of OLO, an FDA cleared blood diagnostics system powered by machine learning. An easy-to-use test kit requires only two drops of blood to produce results based on 19 CBC parameters in minutes. To-date, the company has raised approximately $123M, with a recently completed Series D round valued at $71M. Key strategics in this market include Abbott, Illumina, and Roche Diagnostics.

Eargo raises $71M in Series E Round

The company has developed a family of high-tech hearing aids that are marketed direct-to-consumers. With this most recent funding round, Eargo has raised over $200M. The multi-billion dollar hearing aids market includes prominent competitors such as Phonak and Widex.

Respira Labs is developing a continuous monitoring solution for COPD

Sylvee is an AI-enabled wearable designed to continuously monitor lung function in individuals living with COPD. Founded in 2018, the new startup has raised approximately $685,000. The company raised $350,000 in a late-July venture round.

Imitation hyaline cartilage is being developed for orthopedic uses by Hyalex Orthopaedics

The company is developing a synthetic biomaterial that mimics the structure and function of hyaline cartilage. The material is capable of maintaining low friction and wear under high loads seen in human joints. To-date the company has raised $33M, which is being utilized to support the development of its novel polymer platform. Smith & Nephew, Stryker, and Zimmer-Biomet are some of the key strategics in the orthopedics market.

Thrive Earlier Detection raises a massive $257M in Series B round

The company is developing CancerSeek, a liquid biopsy test for the advanced detection of multiple cancer types. Thrive’s platform has received a breakthrough device designation from the FDA. To-date, Thrive has raised approximately $367M. Other key competitors in the in vitro diagnostics market include Guardant Health, Illumina, and Roche Diagnostics, among others.

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