Fueling Innovation: iVEAcare Raises $27.5M to Advance Neuromodulation Therapy
iVEAcare, Inc., a pioneer in neuromodulation technology, has announced the successful close of a $27.5 million Series A financing round. Led by Vensana Capital, with participation from Treo Ventures, Hatteras Venture Partners, and an undisclosed strategic partner, this funding marks a significant milestone for the Minneapolis-based medical device company.
The company, the third spin-off from NuXcel, a renowned medical device accelerator, is dedicated to developing and commercializing next-generation neuromodulation technologies for treating chronic diseases. With this substantial investment, iVEAcare aims to propel its innovative neuromodulation therapy into the forefront of medical advancement.
Alongside the funding announcement, iVEAcare has appointed Todd Kerkow as President and CEO. With nearly three decades of experience in the medical device industry, including stints at Guidant, Cameron Health, Boston Scientific, and Cardionomic, Kerkow brings a wealth of expertise to lead the company forward.
Expressing excitement about the future, Kerkow emphasized the importance of the experienced investor group supporting iVEAcare. He envisions this Series A financing as a pivotal step towards delivering innovative neuromodulation therapy to patients and clinicians alike.
Amrinder Singh and Kirk Nielsen of Vensana Capital echoed Kerkow’s sentiments, highlighting the significance of neuromodulation as a frontier in medicine. They see iVEAcare’s technology as a potential best-in-class therapy with the power to impact countless patients positively.
With strong support from seasoned investors and a dedicated team at the helm, iVEAcare is poised to revolutionize neuromodulation therapy and make significant strides in improving patient outcomes.
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