Helsingborg-based Acorai, a Swedish startup focused on heart failure management devices, has successfully raised €4.28 million (approximately $4.5 million) in a new funding round. The investment comes from the European Innovation Council (EIC) Fund, Taiwan Medical University, and several private investors. This funding will help Acorai complete its clinical studies and obtain regulatory approvals in both the United States and Europe.
Earlier this year, in January 2024, Acorai completed an oversubscribed seed equity round, raising over $4.5 million.
Funding Utilization
Acorai has finished enrolling patients for its CAPTURE-HF study, which includes more than 1,600 participants from 20 hospitals across six countries. The company has received FDA Breakthrough Device Designation and is collaborating through the FDA’s TAP Pilot program, positioning itself for regulatory submissions and a planned commercial launch by 2026.
Additionally, the EIC Fund has provisioned $6 million for future equity financing, allowing Acorai to prepare for another capital raise in 2025.
This funding will support clinical validation, regulatory approvals, and early commercialization of its heart failure management technology.
Filip Peters, CEO of Acorai, expressed enthusiasm about the investment: “We are happy to welcome the EIC Fund as an investor in Acorai and look forward to working closely with them as one of Europe’s leading deep tech investors. Acorai is at a transformative point and has built a solid foundation to become a world leader in non-invasive cardiac care.”
Peters emphasized the significance of this funding: “This represents another important step toward bringing our solution to the market, with the potential to positively impact over 60 million heart failure patients worldwide.”
Innovative Device for Heart Failure Management
Acorai is developing a non-invasive intracardiac pressure monitoring device aimed at improving heart failure management for over 64 million patients globally. The device utilizes the patented SAVE Sensor System, which integrates non-invasive hardware with machine learning technology.
The SAVE Sensor System employs various sensors—seismic, acoustic, visual, and electrical—to gather detailed cardiac data.
This information is then analyzed in real-time by a machine learning engine trained on one of the largest clinical datasets available.
With these advancements, Acorai aims to address significant unmet needs in heart failure management and improve patient outcomes through innovative technology.
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