Medical device funding is on track to reach $3.5B in 2016, a slight increase over last year’s dollar total. Since 2012, most funding to medical device startups has occurred in the United States, with NEA leading venture capital activity and Johnson & Johnson Innovation leading corporate investment.
We used CB Insights data to identify 72 private medical device companies and mapped them according to the 9 main categories they operate within. While most of the companies work in a single medical specialty such as cardiology or orthopedics, there are many that work across specialties, such as in diagnostics or patient monitoring. In these cases, the company was categorized based on the category that best highlights their main product or service. For example, Michelson Diagnostics, which fits into both diagnostics and oncology, was placed in oncology to highlight their advances in detecting nonmelanoma skin cancer.
As per the FDA, a medical device is any instrument, apparatus, machine, implant, in-vitro reagent, or other related article which is intended for use in the diagnosis, prevention, or treatment of disease, or intended to affect the structure or function of the body.
This market map is not meant to be exhaustive of companies in this space. There are more than 7,000 medical device startups tracked on CB Insights. You can run this deal search to see all of them.
Click on the image below to enlarge.
Here are the primary medical device categories in our map:
General Surgery – Companies developing advances to common surgical techniques as well as procedures such as suturing. Examples include SentreHEART, which is working on suture delivery devices, and Gecko Biomedical, inventors of an elastic alternative to traditional sutures.
Cardiovascular – Companies developing medical or surgical solutions to diseases affecting the heart and/or vascular system. Examples include Mitralign, which focuses on heart valve abnormalities, and CardioKinetix, which develops devices to treat peripheral artery disease.
Ophthalmology – Companies developing medical and/or surgical solutions to diseases affecting the eye. Examples include Ivantis, which concentrates on glaucoma, and Acufocus, which develops treatments for presbyopia – the inability to focus up close — and cataracts.
Orthopedics – Companies focused on surgical and/or medical solutions to conditions affecting the skeletal system. Examples include a developer of spinal implants, Benvenue Medical, and OrthoSensor, which is at work on a wireless smart device for knee reconstruction procedures.
Neurology – Companies developing medical and/or surgical solutions to conditions affecting the brain. Examples include Neuropace, which produces a neurostimulator for the treatment of epilepsy, and BrainScope, developing a device for the assessment of traumatic brain injuries.
Oncology – Companies focused on the diagnosis, monitoring, prevention, or treatment of cancer. Examples include Pronova Solutions, delivering a lower-cost proton therapy system, and Novian Health, the developer of a minimally invasive laser therapy approach to breast tumors.
Diagnostics – Companies developing tools for the diagnosis of conditions caused by bacterial, viral, genomic, immunological, and other factors. One example is LineaGen Research, which has developed a genetic testing platform focused on uncovering the causes of developmental delays in children.
Imaging – Companies focused on improving or replacing traditional medical imaging platforms. One example is Signostics, a developer of advanced ultrasound technology.
Patient Monitoring – Companies developing tools to improve bedside and remote monitoring of medical conditions. Optiscan Biomedical, for example, makes a bedside device that tracks glucose levels in real-time.
| Company | Select Investors | Category |
|---|---|---|
| Via Surgical | Benslie Investment Group, Orange Blossom Ventures | General Surgery |
| Apollo Endosurgery | PTV Sciences, H.I.G BioHealth Partners, Remeditex Ventures | General Surgery |
| ZipLine Medical | MVM Life Science Partners, Claremont Creek Ventures | General Surgery |
| EndoGastric Solutions | Advanced Technology Ventures, Canaan Partners, Chicago Growth Partners | General Surgery |
| Medrobotics | BlueTree Allied Angels, Eagle Ventures, Pittsburgh Life Sciences Greenghouse | General Surgery |
| OmniGuide Surgical | OrbiMed Advisors, Agronaut Private Equity, Electro Scientific Industries | General Surgery |
| Gecko Biomedical | BPI France, CapDecisif Management, CM-CIC Capital Finance | General Surgery |
| Cambridge Medical Robotics | ABB Technology Ventures, Cambridge Innovation Capital, Escala Capital | General Surgery |
| USGI Medical | Alta Partners, GE Capital, InterWest Partners | General Surgery |
| SentreHeart | Prospect Venture Partners, US Venture Partners, Vivo Capital | General Surgery |
| Shockwave Medical | Ally Bridge Group, Deerfield Management, Venrock | Cardiovascular |
| Impulse Dynamics | Dr. Peter Lee Ka Kit (angel investor) | Cardiovascular |
| Silk Road Medical | CRG, The Vertical Group, Warburg Pincus | Cardiovascular |
| CardioKinetix | Edwards Lifesciences Corporation, Lexington Partners, New Leaf Venture Partners | Cardiovascular |
| Arstasis | NEA, GDN Holdings, Johnson & Johnson Innovation | Cardiovascular |
| BioVentrix | Taglich Brothers, Double D Venture Fund | Cardiovascular |
| VytronUS | Apple Tree Partners, BioStar Ventures, NEA, Windham Venture Partners | Cardiovascular |
| CardioFocus | Accuitive Medical Ventures, Aurora Funds, SV Life Sciences | Cardiovascular |
| LoneStar Heart | Themes Investment Partners | Cardiovascular |
| CVRx | Action Potential Venture Capital, Gilde Healthcare Partners, Johnson & Johnson Innovation, NEA | Cardiovascular |
| Intact Vascular | H.I.G BioHealth Partners, NEA, Quaker BioVentures | Cardiovascular |
| Mitralign | Forbion Capital Partners, Oxford Bioscience Partners, Medtronic | Cardiovascular |
| Ivantis | Ascension Ventures, Delphi Ventures, NEA | Opthalmology |
| Freedom Meditech | Silicon Valley Bank, JumpStart | Opthalmology |
| iScreen Vision | Innova Memphis, MB Venture Partners | Opthalmology |
| Retina Implant | Max Reindl, Robert Drosten (angel investors) | Opthalmology |
| TearScience | De Novo Ventures, Essex Woodlands, General Catalyst Partners | Opthalmology |
| ClarVista Medical | Cycad Group, NEA, Windham Venture Partners | Opthalmology |
| ReVision Optics | Canaan Partners, Domain Associates, InterWest Partners | Opthalmology |
| AcuFocus | SV Life Sciences, Accuitive Medical Ventures, HealthCare Royalty Partners | Opthalmology |
| Eye Tech Care | Everpine Capital, Omnes Capital, Sham Innovation Sante | Opthalmology |
| OrthoSensor | Bridger Healthcare, Ziegler Meditech Equity Partners, Tullis Health Investors | Orthopedics |
| Ceterix Orthopaedics | 5AM Ventures, Versant Ventures, Novo Ventures | Orthopedics |
| Benvenue Medical | De Novo Ventures, Domain Associates, InterWest Partners, Versant Ventures | Orthopedics |
| SpineWave | NEA, Acadia Woods Partners, California Technology Ventures | Orthopedics |
| Zyga Technology | Domain Associates, MB Venture Partners, Versant Ventures | Orthopedics |
| VertiFlex | NEA, Aberdare Ventures, Alta Partners, Morgenthaler Ventures | Orthopedics |
| Spinal Kinetics | SV Life Sciences, Ascent Biomedical Ventures, De Novo Ventures | Orthopedics |
| SI-BONE | Arboretum Ventures, Montreux Equity Partners, OrbiMed Advisors | Orthopedics |
| NeuroPace | Kleiner Perkins Caufield & Byers, DAG Ventures, Domain Associates | Neurology |
| eNeura Therapeutics | Domain Associates, InterWest Partners, MedVenture Associates | Neurology |
| NICO | CHV Capital, Halo Group, River Cities Capital Fund | Neurology |
| BrainScope | Alafi Capital, Brain Trust Accelerator Fund, ZG Ventures | Neurology |
| Monteris Medical | BDC Healthcare Venture Fund, Birchview Capital | Neurology |
| Claret Medical | Easton Capital, Lightstone Ventures, Morgenthaler Ventures | Neurology |
| Cerevast Therapeutics | Genstar Capital Partners, Kearny Venture Partners | Neurology |
| Neural Analytics | JSR, MassChallenge, Tech Coast Angels | Neurology |
| Neuros Medical | BlueTree Allied Angels, Boston Scientific Corporation, Case Western Reserve University | Neurology |
| ElMindA | HealthCrest, Palisade Capital Management, Shanda Capital | Neurology |
| Aleva Neurotherapeutics | Banexi Ventures, BB Biotech Ventures, BioMedPartners | Neurology |
| Pronova Solutions | Undisclosed | Oncology |
| Reflexion Medial | Johnson & Johnson Innovation, Pfizer Venture Investments, Sofinnova Partners | Oncology |
| Profound Medical | BDC Healthcare Venture Fund, Genesys Capital, GMP Securities | Oncology |
| Novian Health | iNetworks, Qualifying Therapeutic Discovery Project | Oncology |
| Michelson Diagnostics | Catapult Venture Managers, Innovate UK, London Business Angels | Oncology |
| Veran Medical Technologies | 3G Capital Management, Versant Ventures, Dynamic Investments | Oncology |
| Gamma Medica | BDC Venture Capital, Hercules Capital, Psilos Group | Oncology |
| Mevion Medical Systems | Caxton Advantage Life Sciences Fund, CHL Medical Partners | Oncology |
| Seno Medical Instruments | Houston Angel Network, MedCare Investment Funds | Oncology |
| Genalyte | BioMed Ventures, Claremont Creek Ventures, Khosla Ventures | Diagnostics |
| Somalogic | Quest Diagnostics, Affentranger Associates, Novartis | Diagnostics |
| LineaGen Research | Commonwealth Capital Ventures, HealthQuest Capital, Kickstart Ventures | Diagnostics |
| Biodesix | AstraZeneca, Crabtree Ventures, CRG, Global Health Care Partners | Diagnostics |
| Delphinus Medical Technologies | Arboretum Ventures, North Coast Technology Investors | Imaging |
| SonoCiné |
Undisclosed | Imaging |
| Signostics | Brandon Capital Partners, Kohlberg Kravis Roberts & Co, Playford Capital | Imaging |
| VisionGate | National Institutes of Health, Qualifying Therapeutic Discovery Project, Ridgetop Health | Imaging |
| Ornim Medical | Agate Medical Investments, GE Ventures, OrbiMed Advisors | Patient Monitoring |
| OptiScan Biomedical | Ascension Ventures, Brentwood Associates, MedVenture Associates | Patient Monitoring |
| Intuity Medical | Accuitive Medical Ventures, Emergent Medical Partners, Investor Growth Capital | Patient Monitoring |
| Vital Connect | Perceptive Advisors | Patient Monitoring |
| EarlySense | Bridge Investment Fund, ProSeed Venture Capital, Samsung Ventures | Patient Monitoring |
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