Life Science Intelligence Blog

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

Artificial intelligence image analysis developer RapidAI completes Series B round

RapidAI announced that it has raised $25M in the Series B round. The funds will be used towards recognizing strategic growth initiatives around the world. The company develops software solutions to help healthcare providers diagnose and identify cerebrovascular disorders more effectively. Key strategics include GE Healthcare, Philips, and Siemens.

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ExsoMed - Minimally invasive orthopedic solutions to improve surgical outcomes

The company develops orthopedic fixation devices (i.e. screws) for hand surgery. ExsoMed’s three products are commercialized. Early September, the company received FDA clearance for its Four Corner Fusion system for wrist arthritis. ExsoMed plans to sell this asset to keep the company “focused on our market-differentiating, sterile-packed, single-use business model.” Other strategics in the orthopedics market include J&J, Smith & Nephew, and Zimmer-Biomet.

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Evolution Devices – using artificial intelligence to personalize mobility rehabilitation

The company is developing EvoWalk, a functional electronic stimulation device that monitors and personalizes electrical stimulation to support mobility rehabilitation in patients suffering mobility impairments caused by stroke, ALS, and multiple sclerosis. Key strategics in the neuromodulation devices market include Boston Scientific, LivaNova, and Medtronic.

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OneDrop receives additional funding from Bayer, strengthening their collaboration

OneDrop is a digital health platform that utilizes 13 billion health data points to manage diabetes, cholesterol, and high blood pressure. The platform has over 2.5 million users worldwide. To-date the company has raised over $88M. Key competitors include Abbott, Dexcom, and Livongo.

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Exo is combining nanoscale piezoelectric material with semiconductors to innovate ultrasound technology

Exo recently completed a Series B round worth $40M with backing from 7 investors, including Action Potential Venture Capital, Fiscus Ventures, and Reimagined Ventures. With this recent fundraising round, the company has raised over $87M. The company is expecting to make its handheld ultrasound technology available in Q1 2021. Major competitors in the ultrasound market include GE Healthcare, Philips, and Siemens Healthineers.

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MobileODT is developing visual assessment solutions for women’s health

The EVA System is an artificial intelligence-powered point-of-care visual diagnostic device. The technology is being utilized to streamline colposcopy and other gynecological examinations. The company recently raised $4M in a Series A round. Some of the key competitors in the point-of-care diagnostics market include BD, Danaher, and Roche.

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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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Aatru Medical Submits its NPSIMS Negative Pressure Wound Therapy Device for FDA Clearance

The device is a single-use negative pressure wound therapy device focused on managing surgical site infections that can occur during the 50M+ surgeries performed globally each year. Aatru announced that it had recently completed a Series C round of fundraising to support product development and assist with other short-term initiatives. Key players in the multi-billion dollar wound management market include 3M, Baxter, and Smith & Nephew, among others.

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Protaryx Medical raises $5.1M in recent Series A

The company is developing a novel device that optimizes transseptal access to the left atrium during structural heart and catheter ablation procedures. To-date, the company has raised $8.3M. Key strategics in the structural heart devices market include Abbott, Edwards Lifesciences, and Medtronic.

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Quantib is developing artificial intelligence application for medical imaging analyses

The company currently commercializes two FDA-approved radiology imaging analysis platforms – Quantib ND and Quantib Brain. In June 2020, the company received a grant from the European Innovation Council $2.4M. Strategic competitors in this space include GE Healthcare, Philips, and Siemens. 

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