Technologies that were supported by hundreds of millions of dollars in 2024 included pulsed-field ablation, brain-computer interfaces (BCIs), AI-enabled surgical software and more. In all, the amount of medtech companies receiving more than $100 million in a single round reached double digits this year.
Here are the largest medtech funding rounds of 2024 — all of which equaled or exceeded $100 million — of 2024:
Blackrock Neurotech — $200 million
Tether, a cryptocurrency company, announced in April that it made a $200 million strategic investment in Blackrock Neurotech.
The investment — made through a newly formed venture division called Tether Evo — made Tether the majority stakeholder in Blackrock Neurotech, a maker of neurotechnology including BCIs.
Blackrock Neurotech develops the NeuroPort Array neural interfacing system. The system, used in human BCIs since 2004, helped patients regain tactile function, movement of limbs and prosthetics and the ability to control digital devices. They can achieve this despite diagnoses of paralysis and other neurological disorders.
Oura — $200 million
With significant investment from CGM maker Dexcom, smart ring maker Oura closed out 2024 with a $200 million funding round.
The investment came as part of a new health monitoring partnership that aims to combine Dexcom’s glucose insights with Oura’s health-tracking rings.
Oura said the financing reflects its momentum in building and leading the smart ring category. It expects the new capital to help expand product offerings, fuel further investment in innovation — including AI — and advance global expansion efforts while enabling the exploration of additional acquisitions to accelerate growth.
Kestra Medical — $196 million
The largest medtech funding rounds also included an oversubscribed funding round in July that added $196 million to Kestra Medical’s coffers, supporting the company’s Assure system.
Assure, a modern wearable cardioverter defibrillator (WCD) system, received FDA approval in 2021. Kestra designed Assure to provide autonomous detection and defibrillation for ventricular arrhythmias. It can also detect and record other clinically significant arrhythmias that may require clinical intervention. The company says it designed its offering specifically to meet the underserved needs of female cardiac patients as well.
Assure features four channels of ECG, an advanced algorithm and adaptive patient intelligence. The WCD reduces noise and ensures clear data and insights. It also sends an alert to an emergency medical services (EMS) operator after a defibrillator shock.
Caresyntax — $180 million
In August, San Francisco-based Caresyntax announced that it raised $180 million through a Series C financing extension and growth debt expansion round.
Caresyntax, a vendor-neutral precision surgery platform developer, aims to transform surgery with a scalable, end-to-end software and AI platform. Caresyntax’s medical-grade, interoperable platform allows for the capture and use of novel data and applications. It helps enhance surgical precision and patient safety.
The company leverages tech and AI to collect, integrate and analyze unique and comprehensive data. Its platform delivers real-time, long-term clinical decision support that enhances the patient journey. The technology also boosts hospital operational efficiency and drives better patient outcomes and profitability.
Imperative Care — $150 million
Campbell, California-based stroke treatment developer Imperative Care made waves in July when it closed an oversubscribed Series E financing with proceeds totaling up to $150 million.
The funds — among the largest medtech funding rounds of the year — support the company’s Zoom reperfusion system for the treatment of ischemic stroke, as well as catheter and stent technologies. Imperative Care has four separate entities under its umbrella: Imperative Care Stroke, Imperative Care Vascular, Kandu Health and Telos Health.
The Imperative Care Stroke business aims to bring life-saving interventional treatments to patients with ischemic and hemorrhagic stroke. Imperative Care Vascular aims to advance treatments for vascular diseases, such as pulmonary embolism. Kandu Health, a digital health company, aims to change the course of stroke recovery and post-acute care through remote support. Telo Health utilizes robotics and automation to optimize vascular intervention.
Insightec — $150 million
In June, Insightec raised $150 million to further support its incision-less, ultrasound-based neurosurgery technology.
Haifa, Israel–based Insightec — which has its U.S. headquarters in Miami — develops focused ultrasound technology. Its Exablate Prime platform focuses MRI-guided sound waves to provide tremor treatment to patients with medication-refractory essential tremor and Parkinson’s disease.
Focused ultrasound has FDA approval to treat both sides of the body. In 2023, the company received positive coverage for its essential tremor therapy. It also has research for future applications in the neuroscience space.
Impulse Dynamics — $136 million
Heart failure therapy company Impulse Dynamics got a boost in February with a $136 million funding round, which placed it among the largest medtech funding rounds of 2024.
Marlton, New Jersey–based Impulse Dynamics said the funds would support, among other things, its INTEGRA-D and AIM HIGHer trials. The company develops the Optimizer Smart Mini system to deliver cardiac contractility modulation (CCM) therapy to the heart. It significantly improves heart contraction to allow more oxygen-rich blood to push out through the body.
INTEGRA-D evaluates the combination of the company’s proprietary CCM therapy with implantable cardioverter defibrillator (ICD) therapy. All this comes through a single device — the Impulse Dynamics Optimizer Integra CCM-D system.
Mainstay Medical — $125 million
In February, Mainstay Medical announced an equity financing worth $125 million set to support the commercial growth of its neurostimulation technology.
ReActiv8, an implantable restorative neuromodulation system, treats adults with intractable chronic low back pain (CLBP) associated with multifidus muscle dysfunction. It holds regulatory approval in Europe, Australia, the UK and U.S. The FDA earlier that month approved the system for MRI labeling as well.
The company said it wanted to use the funds to support the commercialization of its ReActiv8 system in the U.S., Europe and Australia. It also has eyes on using the money for post-market clinical studies and research, plus general operations.
Capstan Medical — $110 million
With a $110 million funding round to close out the year, structural heart surgical robot developer Capstan Medical brought its total funding to more than $150 million.
Capstan Medical is developing a surgical robot and catheter-delivered implants for minimally invasive percutaneous replacement of mitral and tricuspid heart valves. The startup hopes to conduct its first-in-human mitral valve procedure by early next year and to follow with the same for its tricuspid valve sometime in 2025.
The company remains on track to start a pivotal trial of its mitral system in 2026 and submit it for FDA review as soon as 2028.
Magenta Medical — $105 million
In July, Magenta Medical closed a $105 million financing round to support Elevate, its miniature heart pump technology. That major round added to $55 million raised in a financing round last year.
Kadima, Israel–based Magenta plans to use the funds to advance its clinical programs for multiple mechanical circulatory support (MCS) indications. It hopes to secure the first FDA approval for Elevate in patients undergoing high-risk percutaneous coronary interventions (HR-PCI).
Magenta’s high-flow, low-profile device holds a duo of FDA breakthrough device designations. The agency deemed it a breakthrough option for high-risk percutaneous coronary intervention and cardiogenic shock. Magenta completed a first-in-human study in Tbilisi, Georgia, and presented results in 2022. In August 2023, it completed enrollment in an early feasibility study for the pump. Now, the company plans to launch a pivotal study in the U.S.
Kardium — $104 million
PFA technology developer Kardium said in June that it raised $104 million to support its Globe system.
The new financing enabled Kardium to complete the PULSAR clinical study of its Globe system. Vancouver, British Columbia-based Kardium wants to use the results to obtain regulatory approvals. Funds could also go toward growing the company’s manufacturing team and capacity, as well as building clinical and commercial support in preparation for a commercial launch for Globe.
Kardium’s Globe mapping and ablation system features a catheter with a 122-electrode array and advanced software. The platform enables rapid pulmonary vein isolation, high-definition mapping and the ability to ablate anywhere in the atrium. All of these capabilities combine in one single catheter.
HistoSonics — $102 million
Minnesota-based HistoSonics, developer of a histotripsy treatment for liver tumor procedures, brought in an oversubscribed Series D funding round worth $102 million in August.
Edison, HistoSonics’ image-guided therapy system, uses advanced imaging and proprietary sensing technology. It delivers non-invasive, personalized treatments with precision and control. Histotripsy, a novel form of focused ultrasound, uses high-amplitude, very short pulses to create a “bubble cloud.” That cloud mechanically destroys and liquefies targeted liver tumors. Histotripsy could offer an alternative to treatments like surgery, radiation and chemotherapy.
The system received an FDA investigational device exemption in February 2023. A month later, HistoSonics announced the first kidney tumor treatment with its novel therapy system. In October 2023, the FDA granted de novo authorization for the Edison system.
Precision Neuroscience — $102 million
BCI maker Precision Neuroscience announced this month that it closed a Series C funding round worth $102 million. The company says its round makes it one of the best-funded companies in the growing BCI industry.
Precision Neuroscience plans to use the funds to expand its team, advance its clinical research efforts and refine future versions of its AI-powered brain implant. The company’s Layer 7 thin-film BCI features 1,024 electrodes embedded in a flexible film that conforms to the brain surface. The film comes in at one-fifth the thickness of a human hair.
This device aims to help users with severe paralysis operate digital devices, like computers and smartphones, using their thoughts.
Amber Therapeutics — $100 million
London-based neuromodulation technology developer Amber Therapeutics made a splash with its $100 million Series A round in June, another of the largest medtech funding rounds of 2024.
Amber develops adaptive neuromodulation technology to treat mixed urinary incontinence (MUI). Amber-UI, a fully implantable system, targets the pudendal nerve through a novel, minimally invasive surgical procedure. The company labeled it the first fully implantable adaptive neuromodulation therapy in development for women with MUI.
Amber plans to use the funds raised to support the development of Amber-UI through pilot and pivotal studies. It aims to move toward regulatory approval in the U.S. The company said it already has plans for pilot studies in Europe and a pivotal trial in the U.S. underway.
