OneProjects Secures $8M in Series A2 Funding and $9M in Grants
Irish-German cardiac imaging startup OneProjects recently announced $8 million in Series A2 funding and two grants totaling $9 million.
The company plans to use the funds to complete product development and move their developments along the pipeline. This includes conducting clinical trials, gaining FDA clearance, and preparing for U.S. commercialization of the first product developed from its proprietary 4D cardiac imaging platform, Verafeye.
The Series A2 financing was led by imec.xpand, with participation from the European Innovation Council (EIC) Fund and existing investors LSP and Atlantic Bridge Ventures, which led the startup’s Series A1 funding in 2020.
The grant funding came as a $6 million grant from the Irish government’s Disruptive Technologies Innovation Fund and a $3 million grant from the European Innovation Council (EIC) Accelerator.
OneProjects is focused on improving catheter ablation treatment of atrial fibrillation (AFib) and other cardiac arrhythmias. They also envision a future wherein their technology will benefit structural heart procedures. Verafeye uses a catheter-based sensor, advanced imaging and machine learning to capture 360°, high-resolution live imagery of the beating heart and determine where tissue has been fully ablated.
OneProjects CEO Fionn Lahart said his company can enhance catheter ablation outcomes by providing better information to physicians. “Our 4D imaging platform improves upon currently available imaging by providing high-precision navigation, procedural planning pre-ablation and expansive real-time imagery of the heart and tissue during the procedure,” Lahart said in a statement.
The company also believes that its proprietary cardiac imaging technology has potential beyond AFib. The technology could “improve any cardiac procedure that can benefit from precise navigation, detailed 4D anatomical imaging and tissue assessment within the heart,” Lahart continued.
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