Marseille, France-based Volta Medical, an healthtech startup that works on novel Artificial Intelligence (AI) algorithms to treat cardiac arrhythmias, announced on Thursday that it has secured €36M in a Series B round of funding.
The round was led by Vensana Capital, with co-investment from Lightstone Ventures and existing investor Gilde Healthcare. The latest capital brings the total funding raised to over €70M.
The French company says it will use the funds to accelerate new product development, support additional clinical trials, prepare for full-scale US commercialisation, and pursue further regulatory approvals.
Besides funding, Volta Medical also announced the appointment of John Slump as its CFO.
Slump has a proven track record as a founder and CFO, leading multiple MedTech companies from concept through regulatory approvals, commercial growth, and strategic acquisitions. He co-founded FARAPULSE, a medical device company in electrophysiology pioneering novel pulsed field ablation technology, acquired by Boston Scientific in 2021.
“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,” says Slump. “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.”
The announcement comes after raising €23M funding led by Glide Healthcare in 2021.
Volta Medical: What you need to know
Founded by Julien Seitz, Théophile Mohr Durdez, and Clément Bars in 2016, Volta Medical is developing AI software to assist cardiac electrophysiologists during arrhythmia treatment procedures to improve clinical outcomes for patients.
The company aims to improve cardiac arrhythmia management by developing data-driven medical devices based on large databases of procedural data with the highest data protection standards.
VOLTA VX1 is its first product, which assists cardiologists in the real-time identification of specific abnormal electrograms called dispersed electrograms. According to the company, VX1 is CE-marked and FDA-cleared.
“There is a critical need to improve precision and consistency in cardiac ablation procedures for patients with persistent AF,” says Theophile Mohr Durdez, Volta Medical CEO and co-founder.
He adds, “With half of these patients requiring repeat treatments, clinicians need tools to understand the disease better 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 Vensana, Lightstone, and Gilde teams for their support and confidence as we partner to validate our products further and expand access to it globally.”
Vensana Capital is a venture capital and growth equity investment firm dedicated to partnering with entrepreneurs who seek to transform healthcare.
The VC currently manages $550M in capital. It is actively investing in development and commercial stage companies across the MedTech sector, including medical devices, diagnostics and data science, life science tools, digital health, and tech-enabled services.
“Volta Medical’s technology is designed to redefine how electrophysiologists make real-time decisions in pinpointing areas relevant to atrial fibrillation persistence,” says Justin Klein, MD, JD, co-founder and managing partner of Vensana Capital.
He adds, “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.”