French medtech company CorWave has raised $42.7 million in Series C funding. It is reported that early-stage startups healthcare funding is largely focused on Europe and Africa.
Bpifrance, Novo Holdings, Seventure, Sofinnova Partners and Ysios Capital were the existing shareholders. They have increased their stake in the medtech company. Additionally, EIC Innovation Council Equity Fund, also known as EIC, was part of the funding round.
Chairman Gérard Hascoët, a venture partner at Sofinnova Partners, told the media, “CorWave has built an international team of excellence that has achieved critical R&D milestones. The company is now in a very good position to seize a multi-billion-euro market opportunity.”
That said, another medtech company Volta Medical has raised €23 million. Gilde Healthcare led the funding with the participation of an existing shareholder, media reports said.
Volta Medical was founded in 2016. It has developed an artificial intelligence-based software to help cardiac electrophysiologists in the operating room. Gilde Healthcare’s Janke Dittmer, told the media, “We are excited to support Volta’s team in bringing a unique solution to address one of the biggest unmet needs in the large and fast-growing electrophysiology market.”
In Africa, Nawah Scientific has raised a second pre-Series A round for its business expansion. The round raised $1 million, media reports said. Founded in 2015, the company is a leading hub to outsource scientific services and research experiments in Egypt.