MedTech startup Volta Medical has raised 36 million euros in a Series B funding round.
Founded by three physicians and a data scientist in Marseille in 2016, Volta Medical develops artificial intelligence (AI)-powered software to help physicians treat complex cardiac arrhythmias.
The 36 million euros ($37.9 million) will be used to accelerate product development, fund clinical trials, pursue further regulatory approval and commercialize its existing solutions.
Volta Medical’s primary product today is the VX1 real-time analysis algorithm, which can be used to assist electrogram-based atrial fibrillation ablation (a type of treatment for an irregular heartbeat).
In a press release announcing the latest raise, the company said VX1 is one of the first commercially available AI decision-support software products of its kind.
“There is a critical need to improve precision and consistency in cardiac ablation procedures for patients with persistent AF,” Volta Medical CEO and Co-founder Theophile Mohr Durdez said in the release. “With half of these patients requiring repeat treatments, clinicians need tools that enable them to better understand the disease and drastically improve patient outcomes.”
The latest funding round was led by Vensana Capital, with co-investment from Lightstone Ventures and existing investor Gilde Healthcare.
“Volta Medical’s technology is designed to redefine how electrophysiologists make real-time decisions in pinpointing areas relevant to atrial fibrillation persistence. We applaud the team’s commitment to validating their products with an investment in multiple high-quality clinical trials,” Justin Klein, MD, JD, co-founder and managing partner at Vensana Capital, said in the release.
“We are confident that Volta’s innovative AI software will transform the effectiveness and efficiency of these challenging procedures.”
In addition to announcing new funding, the company took the opportunity to reveal that it has appointed veteran MedTech executive John Slump as its new CFO.
From diagnostics to treatment, startups around the world are developing medical technology to help physicians better treat their patients and save lives.
For example, PYMNTS has reported how a handful of African MedTechs are helping overstretched doctors accelerate diagnoses and allowing patients to access specialists such as radiologists remotely.
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