Onera raises €10.5M in Series B funding
Onera Health, a leader in sleep diagnostic and monitoring solutions, closed the Series B funding round today, which brought the total funding raised to date above the €24M mark.
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The model is wearing the head and chest patch of Onera STS innovative PSG system. (Photo: Business Wire)
Led by Innovation Industries in close collaboration with Invest-NL and with existing investors Jazz Pharmaceuticals, imec.xpand, BOM and 15th Rock, the company intends to use the funds to execute clinical studies and further commercialize its sleep diagnostics and monitoring products in Europe and the United States. Onera has recently obtained the CE mark for its first product, an innovative polysomnography (PSG) system that brings the gold-standard quality of a hospital diagnostic system directly to a user’s home.
“We’re going to leverage the funding to conduct progressively larger scale clinical studies, expand our partnerships in the EU and US and expedite product development to broaden our portfolio in sleep diagnostics and monitoring,” said Ruben de Francisco, Founder, CTO & interim CEO of Onera “This will facilitate the commercialization of our products and help the medical field provide the much-needed answers for millions who are affected by sleep disorders. We are excited to have such strong support from investors who share our vision.”
Harm de Vries, Partner at Innovation Industries, said: “We are delighted to lead this investment in Onera as the company is perfectly positioned to support the evolution of hospital-quality care to the home by its innovative sleep diagnostic products. With its world-class team, partners, and disruptive technology, we believe Onera is able to democratize gold-standard sleep medicine.”
Leo Holwerda, Director Capital of Invest-NL added: “Our investment in Onera is another good example of how we support promising Dutch start-ups and innovative companies to bring high-impact technologies and solutions to the market.”
“From the very beginning, we were convinced that Onera has the potential to revolutionize the remote monitoring industry. We look forward to seeing Onera’s continued success, enabled by this investment, in the commercialization of its products in Europe and the United States", said Tom Vanhoutte, Partner at imec.xpand.
Onera focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. The user-centric technology of their PSG system enables not only at-home diagnostics but also offers opportunities for hospitals that have limited or no access to a sleep clinic to implement sleep diagnostic testing within their institution.
Last month, the MedTech and Digital Health company showcased its first-generation product at the SLEEP 2021 congress and presented its latest research to renowned world-experts, further underlining the ambition to position itself as a leader in the field of sleep medicine.
Onera recently relocated its headquarters to the Brainport region in Eindhoven, the Netherlands, while maintaining commercial operations in the United States.
Onera Health is a leader in transforming sleep medicine and remote monitoring. Their breakthrough diagnostic solutions and services are poised to help millions of people struggling with sleep-related ailments, while also impacting other medical fields by monitoring a variety of chronic conditions, ultimately improving the health and quality of life for patients around the world. The company’s innovative solutions provide comprehensive sleep test data to physicians in a variety of clinical and non-clinical environments to optimize patient care and reduce healthcare costs. Onera has offices in the Netherlands and the US. For more information, go to www.onerahealth.com
About Innovation Industries
Innovation Industries is a Deeptech venture capital investor that invests up to €30M in Hightech, Agri&Foodtech and Medtech businesses.
Today, Innovation Industries manages over €275M across two funds and has a team of 15 investment professionals. Its largest investors are the Dutch pension funds PME and PMT. Innovation Industries invests from seed to late stage and has partnerships with all Dutch technical universities and research institute TNO. For more information on Innovation Industries see: www.innovationindustries.com
Invest-NL is an impact investor committed to businesses and projects that will make the Netherlands more sustainable and innovative. Its focus lies on carbon-neutral and circular economy and on innovative, fast-growing companies, or scale-ups. Invest-NL supports innovative entrepreneurs through financing and advice according to one simple principle: impact is our goal, return is our means. As the Dutch partner for European investment institutions, Invest-NL is dedicated to cooperation and always works together with other investors. Invest-NL is headquartered in Amsterdam and employs a staff of 60 people. For more information, go to www.invest-nl.nl
imec.xpand is an early-stage and growth venture capital fund with powerful strategies that evolve hardware-driven nanotechnology innovations into successful global companies. The fund is independently managed by a team of entrepreneurs, seasoned investors and business experts who target ambitious tech start-ups where imec technology, expertise and infrastructure can impact success. For more information, please visit www.imecxpand.com
About Jazz Pharmaceuticals plc
Jazz Pharmaceuticals plc (NASDAQ: JAZZ) is a global biopharmaceutical company whose purpose is to innovate to transform the lives of patients and their families. We are dedicated to developing life-changing medicines for people with serious diseases – often with limited or no therapeutic options. We have a diverse portfolio of marketed medicines and novel product candidates, from early- to late-stage development, in neuroscience and oncology. We actively explore new options for patients including novel compounds, small molecules and biologics, and through cannabinoid science and innovative delivery technologies. Jazz is headquartered in Dublin, Ireland and has employees around the globe, serving patients in nearly 75 countries. For more information, please visit www.jazzpharmaceuticals.com and follow @JazzPharma on Twitter.
About BOM (Brabant Development Agency)
Entrepreneurship is the driver of change. From sustainable food sources to a healthy future, climate-neutral energy, and developing promising key technologies – the Brabant Development Agency (BOM) ensures that startups playing a role in these fields get off to a flying start and grow into scaleups, that the right facilities are always available to Brabant-based companies, and that companies that aspire to go global can actually do so. Over the last four years BOM has worked with over 600 companies to achieve such an impact. BOM. Catalyzing Change. For more information, please visit www.bom.nl
About 15th Rock Ventures
15th Rock Ventures is a venture capital firm that invests in human augmentation and information technology with the aim of creating a prosperous society in the age of 100 years. The definition of human augmentation is to create a world where people can improve their physical abilities, acquire various skills that were previously impossible, and have more options in life by combining multiple elemental technologies such as AI, robotics, electronics, AR/VR, and brain-machine interface. For more information, please visit www.en.15th-rock.com
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