The company formerly known as OneProjects is seeking FDA approval for its Verafeye device, which is designed to help doctors treat cardiac diseases.
Luma Vision, a medtech based in Dublin and Munich, has raised $22m to gain regulatory approval for its novel 4D cardiac imaging technology.
The Series A3 funding round was led by existing investors EQT Lifesciences, ABV Uni Fund and imec.xpand. It also included three new investors, which are Atlantic Bridge Growth Fund, Bayern Kapital and an undisclosed multinational strategic investor.
Luma Vision – previously known as OneProjects – was founded in 2017 and originates from the BioInnovate Ireland medical device centre in Galway. The founders subsequently advanced their technology concept with Trinity College Dublin and NUI Galway, before gaining significant development activities in Munich.
The company is working on Verafeye, a medical imaging device that aims to furnish cardiologists with accurate anatomical data to help them treat a variety of diseases such as atrial fibrillation – an irregular heartbeat caused by chaotic electric signals entering the heart.
Luma Vision has gained significant funding over the years, securing €11m in a Series A round in 2020 and a advance $17m in 2021. The company also said it received $6m from Ireland’s Disruptive Technologies Innovation Fund and $3m from the European Innovation Council.
Luma Vision said it will use the latest batch of funds to gain clearance from the US Food and Drugs Administration and prepare for commercialisation in the US. The company also plans to evolve the next generations of Verafeye for give it more clinical applications in cardiology and other branches of medicine.
“Physicians demand accurate, real-time data at the point of care in order to effectively treat patients,” said Luma Vision CEO Fionn Lahart. “Our goal with Verafeye is to furnish the data and imaging physicians need in one system to successfully treat as many of the conditions their patients face as possible.
“By developing a technology platform that can be tailored for specific therapies in cardiology, we believe that Verafeye can be a bedrock of medical imaging for many years to come.”
10 things you need to know direct to your inbox every weekday. Sign up for the Daily Brief, Silicon Republic’s digest of essential sci-tech news.
