Eindhoven-based Onera bags €30M to help people struggling with sleep-related ailments: Know more

Eindhoven-based Onera, a company specialised in remote sleep diagnostic and monitoring solutions, announced on Tuesday that it has secured €30M in a Series C round of funding. The latest round brings the total funding to over €55M.

The round was led by new investor EQT Life Sciences, investing from its EQT Health Economics 3 fund, co-led by new investor Gimv, and joined by existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock.

The capital injection will allow the company to accelerate manufacturing and deployment plans to meet the growing customer demand for its self-applied, no-wire end-to-end solution. 

Additionally, the company intends to use the funds to expedite the clearance of the second generation of its polysomnography (PSG) system in Europe and the United States. 

As a part of the funding round, Drew Burdon and Michaël Vlemmix will join Onera Health’s Board of Directors.

“We are delighted that two premier Life Sciences investors, as well as our existing world-class investors, have the confidence to join and support us in the next phase of our company journey,” says Ruben de Francisco, Founder and CEO of Onera Health. 

“This capital infusion will accelerate our ability to scale in the US and Europe. We will continue aggressively investing in R&D, customer success, and geographic expansion to help the medical field provide the much-needed answers for millions of people affected by sleep disorders. We are incredibly proud and humbled by our success to date and look forward to driving growth together with our new partners,” adds Francisco.

Onera Health: Sleep diagnostic and monitoring solutions

Founded in 2017 by Pieter Ermers, Ruben de Francisco, and Soukaina Adnane, Onera Health is a spin-off of imec, the research centre for nanoelectronics and digital technology. 

The company focuses on breakthrough sleep testing solutions with two simple patches instead of sensors usually attached to the face, scalp, chest, and limbs.

It provides comprehensive sleep test data to physicians in a variety of clinical and non-clinical environments to optimise patient care and reduce healthcare costs.

The MedTech and Digital Health company operates in the U.S., the Benelux, and the DACH region.

The investor

EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform.

With a dedicated team of investment professionals from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the inventors with ideas that could make a difference for patients. 

Drew Burdon, Partner at EQT Life Sciences, says, “Onera Health, with its disruptive medical technology, is a perfect fit for the EQT Health Economics strategy. We are dedicated to growing companies with the potential to have a meaningful impact on society, and Onera is strongly aligned with this mission. The company demonstrated a very strong product-market fit with great potential to improve the quality of patient care while also positively impacting the cost of healthcare. We could not be more thrilled to be supporting the next phase of their journey.”