Nalu Medical Secures $20 Million in Series E Financing
Carlsbad-based medical company, Nalu Medical, has successfully raised an additional $20 million in equity funding through Series E financing. B Capital, a new investor, contributed to the funding round, bringing the total raised by Nalu Medical to $85 million. The majority of the funding, $65 million, was provided by Novo Holdings, with the round concluding in late-December 2023.
Nalu Medical specializes in developing innovative, minimally invasive, and non-pharmacologic solutions for chronic neuropathic pain. The company plans to utilize the latest funding to drive commercial growth, expand clinical and health-economic evidence, continue product development, and scale operations.
Tom West, the President and CEO of Nalu Medical, leads the company in its mission to provide effective solutions for patients suffering from chronic neuropathic pain. Nalu Medical’s flagship product, the Nalu Neurostimulation System, addresses the unmet needs in the treatment of chronic neuropathic pain by delivering gentle electrical pulses to the nervous system. This process helps to modulate the pain signals before they reach the brain, offering a unique and valuable proposition for both patients and physicians.
Nalu Medical’s successful funding round attracted a range of investors, including existing supporters such as Gilde Healthcare, MVM Partners, Endeavour Vision, Decheng Capital, Longitude Capital, Advent Life Sciences, Pura Vida, and Aperture Venture Partners. With the backing of these investors and the latest financing, Nalu Medical is well-positioned to accelerate its mission of providing innovative solutions for chronic neuropathic pain.
Analyst comment
Positive news. Nalu Medical has raised an additional $20 million in equity funding, bringing the total raised to $85 million. The funding will be used to drive commercial growth, expand clinical evidence, continue product development, and scale operations. With strong investor support, Nalu Medical is poised to accelerate its mission of providing innovative solutions for chronic neuropathic pain.
As an analyst, I predict that Nalu Medical will experience significant market growth and expand its market share in the field of chronic neuropathic pain treatment. The additional funding will allow the company to invest in research and development, expand its product offerings, and increase its commercial presence. This will attract more patients and physicians, resulting in increased revenue and market success for Nalu Medical.
