The Venture Codex

Participated · Series C · Apr 2025

Biolinq is a healthcare technology company developing precision intradermal biosensors to improve metabolic health. Its initial product is a wearable biosensor patch with an array of tiny electrochemical microsensors that measure glucose continuously just beneath the skin’s surface, providing real-time feedback via a color-changing indicator light on the upper forearm. The device is designed to combine glucose monitoring with activity and sleep information to support people with Type 2 diabetes not on insulin. Biolinq’s platform is positioned for future multi-analyte sensing capabilities and the company says it has spent the last decade developing the underlying technology. The company recently completed a US pivotal trial and submitted for regulatory review; its intradermal glucose sensor remains investigational and is not yet FDA cleared. A $100 million Series C will finance the company’s push from development toward commercial readiness as it pursues US regulatory approval; Biolinq is headquartered in San Diego. Biolinq develops a wearable patch that uses an array of tiny electrochemical microsensors placed in the intradermal space to measure glucose and relative activity from just beneath the skin surface. The device is designed for simplicity and user feedback, with an intuitive on-device display that notifies users when glucose is within or outside target ranges. Its sensor array is engineered for redundancy, reliability and multi-analyte capabilities without the use of introducer needles or bleeding. Biolinq describes the intradermal glucose sensor as investigational and not yet cleared or approved by the FDA. The company is headquartered in San Diego, CA. Proceeds from the completed financing will fund completion of a U.S. pivotal clinical trial this year and support a subsequent FDA submission. Biolinq is developing a wearable biosensor platform whose first product is a needle-free, intelligent continuous glucose sensor with a novel integrated display on the device. The device leverages semiconductor-industry innovation to miniaturize electrochemical sensors into a micro-array of miniature biosensors roughly 25 times smaller than conventional glucose sensors, enabling redundant measurements for reliability. Early feasibility studies demonstrated the microarray patch can track glucose continuously for up to seven days in people with diabetes. Biolinq’s approach includes multiplexed sensing capabilities and immediate biosensor feedback designed to simplify diabetes management and support future consumer health and wellness applications. The company is advancing clinical, regulatory, manufacturing and commercialization milestones to expand the sensing category. Financially, Biolinq completed a $100 million Series B financing, described as a record private capital raise in the continuous glucose monitoring space, with a broad syndicate of strategic and financial investors. Biolinq is developing a skin-applied, minimally-invasive electrochemical biosensor platform that analyzes interstitial fluid to provide actionable health information. Its first commercial product aims to let people with diabetes continuously monitor blood glucose without the pain and hassle of traditional continuous glucose monitoring systems. The platform is wirelessly enabled and designed to simultaneously measure multiple biomarkers, enabling a pipeline of biomonitoring products. Biolinq plans to use new financing to support growth of its technology platform and to fund additional clinical studies. The company completed its first clinical study in 2018 and reports promising initial clinical results. Biolinq was founded in 2012 and is located in San Diego. Biolinq develops a skin-applied, minimally-invasive electrochemical biosensor platform that analyzes biomarkers in interstitial fluid. Its wirelessly-enabled, nickel-sized biosensor patch is designed to continuously monitor multiple biomarkers and its first commercial product targets blood glucose monitoring without the pain and hassle of traditional CGM systems. The company emphasizes factory calibration (no finger sticks), low cost-of-goods, high manufacturing uniformity, and ease of use. Biolinq intends to leverage its novel manufacturing approach to increase access to CGM and simplify diabetes management. The platform’s ability to simultaneously measure multiple biomarkers supports plans to build a pipeline of additional biomonitoring products. Biolinq was founded in 2012 (as Electrozyme, LLC) and is located in San Diego.

Participated · Series B · Sep 2024

Venova Medical is developing the velocity percutaneous arteriovenous fistula (pAVF) system to create AVFs for hemodialysis access. The velocity system is designed to reduce the need for reinterventions to achieve fistula maturation, improve vascular access outcomes, and lower costs. The company is conducting the prospective, single-center, single-arm VENOS-1 clinical trial (NCT05757726) evaluating the safety and feasibility of the velocity system in patients on hemodialysis. Venova intends to use new funding to support clinical studies of the velocity pAVF system in patients with chronic and end-stage renal disease. The company was co-founded by CEO Erik van der Burg and Shant Vartanian, MD, and recently appointed Darshana Zaveri of Catalyst Health Ventures to its board. Venova is based in Los Gatos, California.

Participated · Series D · Apr 2024

Nectero Medical is developing the Nectero EAST System, an investigational single-use endovascular system that delivers pentagalloyl glucose (PGG) locally into the aneurysmal wall to bind elastin and collagen and potentially strengthen the aortic vessel wall. The procedure is performed in under an hour, leaves no permanent implant, and does not preclude future interventions; early clinical results from a first-in-human study were published in the Journal of Vascular Surgery. The company initiated a Phase II/III stAAAble trial in January 2024 to evaluate safety and efficacy in infrarenal AAAs (3.5–5.0 cm), and the Nectero EAST System received Fast Track and Breakthrough Therapy designations. Nectero positions the therapy as a potential first approved option for smaller AAAs beyond surveillance if trials are successful. The company cites a large addressable population (over 1M diagnosed Americans and ~60,000 treated annually) and will use recent financing to advance clinical work and regulatory submission. Its lead product aims to offer a minimally invasive alternative to current surveillance or treatments reserved for larger or symptomatic AAAs. Nectero Medical is developing the Endovascular Aortic Stabilization Treatment (EAST), a one-time catheter-based procedure that locally delivers a proprietary compound to stabilize small- to mid-sized aortic aneurysms and leave no implant behind. The EAST system has shown early clinical results and is currently treating AAA patients in a multi-site Phase 1 safety study. The therapy is intended to significantly reduce aneurysm growth rate, prevent rupture, and provide an option for patients who are managed with active surveillance or are ineligible for surgical repair. Proceeds from the recent financing will support in vivo and clinical trials to advance the platform. The company also cites potential broader applications including thoracic aneurysms, aortic dissections, neurovascular aneurysms, and other cardiovascular and connective tissue disorders. The company is based in Tempe, Ariz.

Led · Seed · Apr 2021

Moving Analytics (Movn) offers a 12-week, data-driven at-home cardiac rehabilitation program that provides patients with a cellular-enabled scale, Bodytrace blood pressure cuff, Garmin fitness tracker, exercise bands and an American Heart Association information book. The company operates as a healthcare provider and contracts with payers including Kaiser Permanente, Allegheny Health Network and CDPHP, running operations in 14 states and serving approximately 4,000 patients. Movn reports large improvements in enrollment and completion rates with partners (for example, Kaiser completion improved from 14% to 88%) and positions its program as a cheaper alternative to in-person sessions. The founders — Harsh Vathsangam, Shuo Qiao and Ade Adesanya — built the offering around a clinician-supported, empathy-focused intervention. Financially, the company has raised a total of $30 million to date and just closed a $20 million Series A. Planned uses for the new capital include expanding coverage to all 50 states, hiring staff and launching bilingual programming to better serve marginalized communities. Moving Analytics offers Movn, a virtual cardiac rehabilitation and cardiovascular disease management program developed in partnership with Stanford and grounded in more than 30 years of published research involving over 70,000 patients. The company’s flagship Movn product targets patients after acute coronary events and has been deployed with customers such as Kaiser Permanente, Highmark Health, Allegheny Health Network and the Veteran Affairs. Moving Analytics says it has served several thousand patients and cites Highmark results showing over a 60% enrollment rate, an 80% completion rate and equivalent clinical outcomes. The company will use the new funding to expand the Movn program, grow its partner and customer base, enroll more patients and improve the patient experience with richer, more tailored educational content. Moving Analytics also plans to expand into more markets and ensure its programs meet Medicare reimbursement requirements to support future growth. Financially, the company raised $6M in a Series Seed-2 and has received $9.5M in total funding to date; the round was led by Aphelion Capital through Cardeation Capital with co-investments from OCA Ventures and Seae Ventures. Moving Analytics provides Movn, a technology-enabled, home-based cardiac rehab program based on MULTIFIT, an evidence-based protocol developed at Stanford. The app generates individualized care plans, guides patients through supervised exercises, delivers educational content, tracks vital signs, enables provider chat, analyzes patient behavior, and alerts care managers to issues. Care managers coach patients with weekly phone-based sessions and modify treatment plans based on symptoms and progress. Movn has been validated on over 70,000 patients and is being used in hospitals including NYU Langone Medical Center, Our Lady of Lourdes, and the Atlanta Veterans Affairs Medical Center. The company said it will use the new capital to expand sales and marketing and to roll the product out into additional locations with existing customers. Moving Analytics is led by CEO and founder Harsh Vathsangam. Moving Analytics is a digital health company offering a home-based cardiac rehab solution hospitals can deploy for patients to do at home. Its cardiac rehab program, developed by researchers at Stanford University, includes evidence-based clinical protocols, a chronic care management system, a patient mobile application and implementation support. The company will use the $1.1M funding to expand its cardiac rehab product into the U.S. market and to further develop a home-based COPD product to complement its offerings. The $1.1M round was led by Launchpad Digital Health with participation from HealthX Ventures. Moving Analytics is led by CEO and founder Harshvardhan Vathsangam and is based in Marina Del Rey, California; it is participating in Launchpad Digital Health’s one-year accelerator in San Francisco. Its clients include medical institutions across the U.S., including California, New York, New Jersey, Florida and Georgia.

Led · Equity · Apr 2021

ExplORer Surgical offers a platform that combines video, role-specific digital procedural playbooks, and time-stamped intraoperative data capture to support virtual proctoring, case support, clinical trials data collection, and product launches. The company originated from a research laboratory in the University of Chicago Medical Center Department of Surgery and integrates remote, HIPAA-compliant two-way video connectivity so offsite team members can join procedures. Its Remote Case Support feature, launched in early 2020, drove a 6X increase in sales over the last year. ExplORer has built more than 1,000 unique procedures on its platform and onboarded over 10 new medical device customers in under three months, including large global MedTech companies and startups. The company plans to use the new funding to grow headcount from about 30 to roughly 50, expand technology, marketing, and customer success teams, and deliver additional platform updates; it also expects to raise another round later this year. ExplORer Surgical offers a software-as-a-service platform for intraoperative surgical and interventional procedure workflow management and analytics. The platform lets hospital and device company teams guide, track and analyze activity in the operating room, during training events and throughout stages of clinical use. Each team member sees their own content on any connected device, and the system collects live procedural data. Led by CEO and co-founder Jennifer Fried, the company is based in Chicago, IL. ExplORer intends to use the recently raised funds to accelerate growth of its surgical software platform. The article does not disclose revenue or user metrics. ExplORer Surgical offers a software-as-a-service interactive digital playbook to manage, track and analyze intra-operative activity and information for operating rooms and interventional suites. The platform supports team coordination during procedures and delivers granular analytics on procedure activity. Customers include hospitals and medical device manufacturers that use the tool to improve intraoperative workflow and data capture. The company was founded out of a research laboratory at the University of Chicago Medical Center and is led by CEO Jennifer Fried. ExplORer intends to use the new financing to accelerate commercialization of its workflow management platform. The company is based in Chicago, Illinois. ExplORer Surgical builds an interactive surgical playbook as a software-as-a-service intraoperative workflow management tool. The platform aims to optimize operating room teamwork by preventing delays and disruptions caused by missing or incorrect instruments. It also seeks to reduce instances of opened-but-unused disposable items and to capture granular intraoperative data in real time. The company is led by CEO and co-founder Jennifer Fried, with Dr. Alex Langerman as Chief Medical Officer, Dr. Marko Rojnica, Eugene Fine as CTO, and Tom Knight as COO. ExplORer says it will use the funding to scale operations.