Marseille-based Volta Medical has just raised €36 million in a new funding round. The French startup is developing AI-based software that helps physicians treat complex cardiac arrhythmias.
Innovation in medicine and healthcare is predicted to be a key growth area this year. It’s a market area that actively shapes people’s lives, and has the potential to improve lives for the better -positively influencing people of all backgrounds right across the world.
Based in Marseille, Volta Medical is a medtech startup on a mission to improve treatment options for complex cardiac arrhythmias – such as atrial fibrillation. The startup has just raised new funding and is now set to expand.
The funding
- €36 million was raised in a Series B funding round which was led by Vensana Capital with co-investment from Lightstone Ventures and existing investor Gilde Healthcare.
- It brings the total capital raised by the company to over €70 million
- The funding will help with product development, clinical trials and preparing for commercialization
Justin Klein, MD, JD, co-founder and managing partner of Vensana Capital: “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. We are confident that Volta’s innovative AI software will transform the effectiveness and efficiency of these challenging procedures.”
AI Software for cardiac treatments
Founded in 2016, the Volta Medical team is developing artificial intelligence (AI) solutions to assist electrophysiologist physicians in treating complex cardiac arrhythmias such as atrial fibrillation (AF).
The company’s lead product, VOLTA VX1, is one of the first commercially available AI decision-support software products that can help guide physicians with the identification and real-time annotation of unique abnormalities on 3D anatomical and electrical maps of the heart. This technology may ultimately lead to optimized catheter-ablation procedures for complex arrhythmias, including persistent AF.
Theophile Mohr Durdez, Volta Medical CEO and co-founder: “There is a critical need to improve precision and consistency in cardiac ablation procedures for patients with persistent AF. With half of these patients requiring repeat treatments, clinicians need tools that enable them to better understand the disease and drastically improve patient outcomes. We believe VOLTA’s VX1 has the potential to do just that in a consistent, reproducible way. We are most grateful to the teams at Vensana, Lightstone, and Gilde for their support and confidence as we partner to further validate our products and expand access to it globally.”
Alongside this funding announcement, the company has appointed a new CFO – John Slump – as it ramps up expansion plans.
The startup was founded by three physicians and a data scientist in 2016 in Marseille, with the goal of improving cardiac arrhythmia management, and improve patient outcomes, by developing cutting-edge tech solutions.
The funding will help accelerate new product development, support additional clinical trials, prepare for full-scale US commercialisation, and pursue further regulatory approvals.
John Slump, CFO: “I’m excited to join the Volta Medical team and am pleased with our ability to attract significant equity investment from both new and existing investors in an increasingly challenging fundraising climate. VOLTA VX1 has the potential to make a major difference in the lives of millions of people with AF, and this Series B Financing will help to accelerate its development and adoption nationally and across the globe.”
