12th December 2024 – Furthr VC participated in this funding round which was co-led by Elkstone and Atlantic Bridge.
LaNua Medical, an Irish MedTech device startup, has raised €6m in seed funding.
The company is developing a new technology that makes it easier, safer, and cheaper for doctors to treat internal bleeding, vascular malformations and many benign and malignant tumours.
The company’s “Ecore” device is designed to help modernise embolization procedures – a technique used by surgeons and radiologists to control the flow of blood in certain areas of the body.
The umbrella-shaped device is able to enter blood vessels deep within the body and form an occlusive barrier.
LaNua is a spin-out from University College Dublin (UCD) and was founded in 2024.
The company said the funding will be used to accelerate product development and market access.
“It will enable our team to hire additional skilled resources, develop a range of devices to meet the growing demands of embolization in the interventional radiology medical community and gain entry into our first market in the US,” said CEO and co-founder of LaNua Medical Tom Fitzmaurice.
The funding round was co-led by Elkstone and Atlantic Bridge, with participation from Enterprise Ireland and Furthr VC.
“LaNua Medical exemplifies Ireland’s continued excellence and innovation in the MedTech sector,” said Niall McEvoy, Head of Venture at Elkstone.
“As an early investor in pioneering companies like LetsGetChecked, Luminate Medical and Croi Valve, we at Elkstone have seen firsthand how Irish Health Tech and MedTech start-ups can revolutionise patient care on a global scale,” Mr McEvoy said.
By Brian O’Donovan of RTÉ.
