FluidAI Medical (formerly NERv Technology Inc.) develops the Stream™ Platform, which combines advanced sensors and an AI-driven algorithm to help surgeons detect postoperative leaks earlier and improve clinical outcomes. Led by CEO Youssef Helwa and based in Kitchener, Canada, the company is focused on postoperative patient monitoring and plans to broaden its clinical indications. FluidAI intends to use its recent financing to expand into existing and new global markets, grow its team, and amplify R&D efforts. The company aims to introduce novel AI-driven solutions addressing a wider range of postoperative complications. Its current financial position was bolstered by a $15M Series A announced in October 2023. No operating metrics were disclosed in the article. NERv Technology has developed an all-in-one sensory platform (hardware and software) designed to help doctors monitor postoperative patients remotely by detecting leakages from catheters and wound drains that can lead to critical complications. The device attaches to catheters and wound drains and moved the company from prototype to a product-launch phase over the past year. NERv commenced clinical studies, including a multi-site feasibility study led by researchers from St. Michael’s Hospital and Hamilton Health Sciences, and has grown its team from about 16 to 24 employees. The startup manufactures devices locally in Waterloo and recently relocated operations to the Medical Innovation Xchange (MIX) to access lab space and commercialization expertise. NERv plans to use new funding to secure regulatory approval, complete clinical studies, and scale manufacturing and assembly locally, with expectations to seek Health Canada approval first and later pursue approval in the United States and Middle East. NERv Technology has built a sensory platform designed to detect anastomotic leakage—a postoperative leak of gastrointestinal contents into the abdominal cavity—capable of identifying leaks in a matter of minutes. The startup says its solution targets a major clinical problem: about 1.7 million high‑risk abdominal surgeries occur annually in the US, with complications arising in roughly 8% of patients and contributing to at least 13,000 deaths per year. NERv was co‑founded in 2014 by CEO Youssef Helwa and COO/co‑founder Amr Abdelgawad, both University of Waterloo engineering graduates; the executive team also includes CTO Abdallah El‑Falou and lead scientist Mohamed Okasha. The company has completed the first phase of preclinical studies and plans to begin regulatory submissions, clinical studies, and pilot programs as it approaches commercialization. Financially, prior to this round NERv had raised under $1M CAD from non‑dilutive sources and government grants. The new funding is intended to support further preclinical research and development of a flagship post‑operative surgery platform.

Total raised

$18M

Funding rounds

3

Latest round

Series A

Latest activity

Oct 2023