Medical advances seem to hit the headlines almost daily at the moment – and it is no wonder!
The scope of both the advancement in medical knowledge, together with the transformative effect of increasingly powerful-yet-cheaper computer power and other tech devices, is giving medical firms an almost unlimited amount of resources with which to experiment and develop amazing new advances in research.
There are hundreds, if not thousands, of impressive companies who could have made it onto this list, but we have chosen to go for these top 25 MedTech startups to highlight this time around.
4C Medical Technologies
4C Medical Technologies is a Midwestern medical startup that has created a medical device that they believe to a solution to invasive surgeries for structural heart disease. Instead of replacing a person’s mitral valve, 4C Medical has pioneered the AltaValve device which is placed supra-annular to the leaking native mitral, preventing the leak from entering the left atrium. The AltaValve device is designed to minimise the risks associated with transcatheter mitral valve replacement.
2015 – Maple Grove, Minnesota, USA
Total funding: $48.1m
ABLE Human Motion
ABLE is a Barcelona based start-up developing lightweight and affordable robotic exoskeletons to enable mobility for wheelchair users. ABLE designs and develops exoskeleton technology to empower people with limited mobility, such as paraplegic individuals. The ABLE Exoskeleton helps people to stand up, walk, and sit down, without the aid of other people. The lightweight and affordable exoskeleton should help clinicians to improve the efficiency of rehabilitation, and help people to have a better quality of life.
2018 – Barcelona, Catalonia, Spain
Alex Garcia, Alfons Carnicero, Josep Font
Total funding: €2.1m
Acurable is a London-based MedTech startup, pioneering and commercialising the first-ever wearable medical device for the accurate diagnosis and management of respiratory conditions at home, without the need for invasive intervention. The wearable device not only makes treatment more comfortable for the patient, but reduces overall costs of treatment, and the automated diagnosis of the device greatly reduces the possibility of misdiagnosis. Acurable’s mission is to ensure that no patient dies of a treatable condition.
2016 – London, UK
Esther Rodriguez Villegas
Total funding: £2.1m
Galway-based Atlantic Therapeutics is a MedTech startup that is developing pelvic floor muscle strengthening and nerve stimulation products in the form of devices, apps and other technologies. By treating weak pelvic floor muscles, Atlantic Therapeutics can alleviate the symptoms of incontinence, sexual health dysfunctions and other associated disorders. Atlantic Therapeutics’ technologies are corroborated by clinical evidence and subjected to controlled trials.
2013 – Galway, Ireland
Total funding: $48.8m
Ava is a MedTech company formed specifically for women. Ava has designed and created a patented multi-sensor bracelet, allowing women to monitor their menstrual cycles and to accurately predict their fertile days. Ava has engineered an app in conjunction with their wearable, which uses AI and big data to produce self-learning algorithms to interpret hormonal fluctuations and make accurate ovulation predictions. Ava’s technology has been validated in clinical trials.
2014 – Zürich, Switzerland
Lea von Bidder, Pascal Koenig, Peter Stein, Philipp Tholen
Total funding: $42.4m
Babylon is a London-based startup that is working to provide affordable healthcare combining real medical expertise from doctors with AI. Babylon is a digital health service provider that delivers full access to healthcare, including in-person appointments with a doctor, personalised health assessments, treatment advice, and an app where users can monitor their health using the comprehensive tracking system. Babylon’s mission is to make health care accessible and affordable to everybody and to enable people to proactively manage their health. The Babylon app allows users to connect with doctors virtually within minutes via text, or phone and video calls.
2013 – London, UK
Total funding: $631.1m
Bea Fertility is a London-based medical startup providing a direct-to-consumer monthly medical subscription programme for at-home fertility treatment and ovulation tracking. Bea Fertility’s fertility kit will include a kit for Intracervical Insemination (ICI); a fertility treatment that is less expensive and less invasive than Intrauterine Insemination (IUI) and only marginally less effective (2.3%), but requires no help from a medical professional. The fertility kit also contains LH (ovulation) tests and hCG (pregnancy) tests to help women start their pregnancy journey.
2020 – London, UK
David O’Rourke, Tess Cosad
Total funding: $1.1m
BenevolentAI is a startup developing artificial intelligence and computational medicine technologies to improve the quality of care. BenevolentAI combines advanced AI and machine learning to understand complex disease biology and discover effective methods of care. The startup has pioneered a computational R&D platform that covers all phases of the drug discovery process, running an in-house pipeline of more than drug programmes with both early discovery and clinical phases. BenevolentAI is currently the only AI-drug discovery company with a clinically validated approach.
2013 – London, UK
Brent Gutekunst, Ivan Griffin, Ken Mulvany, Michael Brennan
Total funding: $292m
BlindShell is a startup developing a smartphone for visually impaired users.
There are 285 million visually impaired users and BlindShell has identified that the majority of them use traditional keyboard‐based mobiles, which are designed for people without impairment, making it difficult for the visually impaired to use. BlindShell has created a solution for this social issue by creating a low-cost, easy-to-use mobile, optimised for visual impairment. The mobile phone has an interface adapted to touch and voice commands, making it simple and intuitive for people with visual impairments to use.
2014 – Prague, Czech Republic
Daniel Novak, Petr Svobodnik
Total funding: €50k
Bloomlife is a healthcare startup developing clinically certified wearable medical devices for pregnant women, to improve birth outcomes. Bloomlife has identified that there are significant and underrated challenges in pre-natal healthcare, and have created a wearable solution with data analytics to increase access to care and to provide personalised feedback to mothers, and help doctors predict and pre-empt any pregnancy complications.
2018 – San Francisco, California, USA
Eric Dy, Julien Penders
Total funding: $14.4m
Cognetivity Neurosciences is a MedTech startup developing a groundbreaking AI platform for the early detection of cognitive impairment, dementia and Alzheimer’s disease. Diagnostic tests for dementia have not substantially changed for decades, and Cognetivity Neuroscience’s radical new approach uses AI as part of a rapid cognitive analysis technology that is easy to use and makes early detection a reality for patients and doctors.
2013 – London, UK
Seyed-Mahdi Khaligh-Razavi, Sina Habibi
Total funding: $994.2k
Encellin is a MedTech startup based in San Francisco, pioneering a novel thin-film cell encapsulation device for cell-based therapeutics. Behind Encellin’s medical innovations is a team of dedicated scientists working on the advancement of next-generation therapies. Encellin’s mission is to help alleviate the suffering of chronic patients, beginning with Type 1 diabetes as its primary focus.
2016 – San Francisco, California, USA
Crystal Nyitray, Grace Wei
Total funding: $5.9m
FibriCheck is a medically certified screening and monitoring app, on prescription which is used to detect irregular heart rhythms, including atrial fibrillation. This medical software solution requires the user to place their finger on the camera of the smartphone to measure the cardiac rhythm easily. The data is recorded and shared with a medical professional to increase the efficiency of diagnosis and prognosis.
2014 – Limburg, Liege, Belgium
Bieke Van Gorp, Jo Van der Auwera, Kobe Leysen, Lars Grieten
Total funding: $12.8m
FindMeCure is a Bulgarian startup working to support medical innovations. FindMeCure describes itself as ‘the Google of clinical trials’, helping individuals to find treatments and apply to participate in studies with just a few clicks. The startup is helping to support medical discovery and connect clinical programmes with willing participants.
2015 – Sofia, Grad Sofiya, Bulgaria
Ivaylo Yosifov, Maya Zlatanova, Miroslav Valchev
Total funding: $420k
Flow Neuroscience is a Swedish medical startup that has developed a direct-current stimulation device and behavioural therapy app designed to effectively treat depression. Flow Neuroscience’s wearable medical headset, developed in collaboration with Harley Street (London) clinics, treats clinical depression with electrical signals. The startup has also engineered a Flow depression app to help patients understand, treat and prevent depression for a holistic approach towards treatment. When headset usage is combined with the app, Flow claims that 24% of users could overcome depression completely.
2016 – Malmö, Skane Lan, Sweden
Daniel Månsson, Erik Rehn
Total funding: $11.6m
FundamentalVR is a London-based MedTech startup creating VR haptic ‘flight simulators’ for surgery. Using VR technology, surgeons in training can refine their skills virtually in a safe, measurable and repeatable place. FundamentalVR works in collaboration with leading pharmaceutical companies to combine virtual and mixed reality with haptic feedback to develop their surgical procedure simulations to educate and train physicians.
2012 – London, UK
Chris Scattergood, Richard Vincent
Total funding: $9.6m
GyroGear is a London-based medical startup developing a wearable device to help individuals with hand tremors, such as patients with Parkinson’s and Essential Tremor. The team at GyroGear consists of designers, engineers and medics to develop the most effective and comfortable solution to hand tremors possible. GyroGear is currently producing the GyroGlove, a wearable device that mechanically stabilises hand tremors. GyroGear’s mission is to restore independence, dignity and quality of life to people suffering from hand tremors.
2014 – London, UK
Total funding: $9.5m
Hinge Health is a digital clinic that specialises in the treatment of chronic musculoskeletal conditions such as back and joint pain. The startup develops a digital care platform that combines an app, health coaching for remote physical and behavioural health therapy, and wearable sensors that are synchronised to the app to monitor patient health. Hinge Health aims to improve the quality of care for patients and help them to avoid preventable chronic pain, opioid use and surgeries.
2015 – San Francisco, California, USA
Daniel Perez, Gabriel Mecklenburg
Total funding: $426.1m
Lightpoint Medical is a medical device startup that has pioneered a cutting-edge intra-operative imaging technology that can detect cancer during surgery. The intraoperative imaging technology is called Cerenkov Luminescence Imaging (CLI) and is able to detect cancer in real-time during surgery. CLI is an important solution for doctors as it can minimise the likelihood of cancer recurrence and therefore can prevent repetitive surgical treatments.
2012 – Chesham, Buckinghamshire, UK
Total funding: $33.4m
ŌURA is a Finnish startup that has pioneered a sleep performance platform consisting of a wearable and an app. The ŌURA Ring and app monitors sleep performance and then processes this information to give users daily feedback for sleep improvement, ultimately resulting in better health. By using the platform, users can understand their body’s sleep rhythms better and improve their health and wellbeing.
2013 – Oulu, Finland
Kari Kivela, Markku Koskela, Petteri Lahtela
Total funding: $148.3m
Psyomics is a digital solution to maximise clinical capacity while improving the patient experience for mental health assessments. Psyomics’ digital platform Censeo, for mental health assessments, allows primary care providers to access an in-depth, psychiatric level review of every patient, within their service. Psyomics enables primary care practitioners to manage their mental health patients’ needs efficiently, as well as helping patients to better understand and manage their symptoms.
2015 – Cambridge, UK
Total funding: $3m
SkinVision is a mobile app that allows you to track your moles and analyse their risk factor for cancer. By using SkinVision early, individuals can prevent melanoma, squamous cell carcinoma, basal cell carcinoma and precancerous actinic keratosis. SkinVision has been used in clinical trials at the university clinic of Ludwig Maximillian University and is the first medically certified skin cancer application globally.
2012 – Amsterdam, The Netherlands
Mircea Popa, Victor Anastasiu, Victor Anastasiu
Total funding: $12.2m
Spry Health is a Californian startup that had developed a wearable medical device called the Loop System, designed for patients with chronic illnesses. The wearable provides health care providers with real-time data analytics which will help them to monitor and manage chronically ill patients remotely. This remote solution not only gives patients a better quality of life but helps to avoid hospitalisations and unnecessary expenditure for the 5% of patients who drive 50% of health spending.
2013 – Palo Alto, California, USA
Elad Ferber, Pierre-Jean Cobut
Total funding: $8.5m
Suki is an AI-powered, digital voice assistant for doctors. Suki was designed to help healthcare organisations with administrative tasks. With Suki, physicians can more easily handle tasks such as notes dictation, retrieving info, and works with EHR. The startup was founded in 2017 in California.
2017 – California, United States
Anshu Sharma, Karthik Rajan, Punit Soni
Total funding: $40m
Thriva is a medical startup that offers individuals a personalised at-home finger-prick blood test allowing them to easily track and understand what they need to improve their health. The blood tests are then analysed by the partner laboratory and are reviewed by their in-house doctor to ensure accurate results and health analysis.
2015 – London, UK
Eliot Brooks, Hamish Grierson, Tom Livesey
Total funding: $14.7m
The list above includes startups that are developing amazing advances within the medical tech industry.
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Data source: crunchbase.com