January 5, 2021
Volta Medical is a pioneering French-based HealthTech startup, working on novel artificial intelligence (AI) algorithms to treat cardiac arrhythmias. Today they announced that it has successfully raised 28 million USD.
Volta Medical advises that the financing round was led by Gilde Healthcare with the participation of existing shareholder Pasteur Mutualité.
The new capital will allow the company to establish its revolutionary FDA-cleared and CE-marked VX1 AI software solution as a new standard of care, pursue further R&D activities and start to roll out commercial activities across the US and Europe. Recruitment for TAILORED-AF, an international multicenter trial has already started. Volta Medical will be welcoming two new Board members. Janke Dittmer, General Partner at Gilde Healthcare, has been nominated as a board member and former medical device industry top executive, Denis Gestin, as an independent board member.
After developing the first commercially available AI software to help electrophysiologists improve the management of cardiac arrhythmias, Volta Medical is now preparing to transform the way ablation procedures will take place in the future.
Theophile Mohr-Durdez, CEO and co-founder of Volta Medical mentioned: “We are excited to be able to complete our highly ambitious medical program with the start of TAILORED-AF, a new randomized controlled trial (RCT). This trial aims to demonstrate how our AI software can help physicians optimize both efficacy and efficiency when performing complex procedures to treat heart rhythm disturbances.” Among these disturbances, atrial fibrillation (AFib) is the most common and currently affects over 30 million patients worldwide.”
He concluded, “This underlines the importance of the TAILORED-AF trial which is likely to result in a breakthrough approach for tackling one of the world’s greatest public health challenges in a more consistent and reproducible manner. According to Gilde Healthcare’s Janke Dittmer, “We are excited to support Volta’s team in bringing a unique solution to address one of the biggest unmet needs in the large and fast-growing electrophysiology market”.