Volta Medical, a France-based health technology company developing AI solutions to assist electrophysiologist physicians and surgeons, has secured €36 million in Series B funding. With this, the total funding raised by the company accounts for €70 million.
Development of VOLTA VX1
The funding will help accelerate new product development, support additional clinical trials, prepare for full-scale US commercialisation, and pursue further regulatory approvals.
The company’s lead product, VOLTA VX1, is the first commercially available AI decision-support software to help guide physicians with identification and real-time annotation of unique abnormalities on 3D anatomical and electrical maps of the heart. This technology ultimately may lead to optimised catheter-ablation procedures for complex arrhythmias, including persistent AF.
Theophile Mohr Durdez, Volta Medical CEO and co-founder said “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.”
“Volta Medical’s technology is designed to redefine how electrophysiologists make real-time decisions in pinpointing areas relevant to atrial fibrillation persistence,” said Justin Klein, MD, JD, co-founder and managing partner of Vensana Capital. “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.”
Appoints new CFO
Besides the investment, medical device executive John Slump joined as Chief Financial Officer.
“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,” John said. “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.”
AI in cardiac surgeries
Volta Medical was founded by Founders Clément Bars, Julien Seitz and Théophile Mohr Durdez in 2016. It aims at developing a wide range of intelligent software solutions designed to guide cardiologists treating complex cardiac arrhythmias such as atrial fibrillation (AF). It helps them improve clinical outcomes for patients.
It develops data-driven medical devices trained on large databases of procedural data with the highest standards of data protection.
The company’s first product, VX1, is a digital AI companion device and algorithm to assist cardiologists with real-time identification of specific abnormal electrograms (EGMs), known as dispersed EGMs. For more information, visit the company’s website at www.volta-medical.com.
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