Averto Medical Secures $30M in Series A Funding
Averto Medical, a medical device company, announced today that it has raised over $30 million in an oversubscribed Series A financing round. The round was led by investors including New Enterprise Associates (NEA) and Perceptive Advisors, with participation from other undisclosed investors. The funds will be used to advance the company’s innovative medical device that avoids the need for ostomy.
Details
The Series A financing round was oversubscribed, with a total of $30 million raised. New Enterprise Associates (NEA) and Perceptive Advisors led the round, with participation from other undisclosed investors. The funds will be used to advance the development of Averto Medical’s innovative medical device that eliminates the need for ostomy.
Company Background
Averto Medical is a medical device company founded in 2019 and based in the United States. The company is focused on developing innovative solutions for patients with gastrointestinal and other medical conditions that require ostomy. Their flagship product is a device that eliminates the need for ostomy, providing a more comfortable and convenient alternative for patients.
Market Context
This funding round is significant in the medical device sector, as it highlights the growing interest in innovative solutions that improve patient care and quality of life. The ostomy market is a large and growing segment, with millions of patients worldwide requiring ostomy care. Averto Medical’s device has the potential to disrupt this market by providing a more comfortable and convenient alternative for patients. This funding will enable the company to advance the development of their device and bring it to market, potentially transforming the lives of millions of patients.
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Source: X / Twitter