Participated · Series A · Jun 2024

Raydiant Oximetry is a venture-backed, clinical-stage medical device company based in San Ramon, California, focused on improving outcomes for mothers and babies during childbirth. The company was founded by Neil P. Ray, MD, and has developed Lumerah™, a low-cost, non-invasive sensor that continuously monitors fetal oxygenation during labor, and Daisy™, a vacuum-induced surgical tool for OB/GYN applications. Raydiant’s core product work centers on fetal pulse oximetry to better identify fetal distress and potentially avoid medically unnecessary C-sections. The company plans to use prize funding and development sprints to further advance and de-risk its technologies for clinical adoption. Raydiant frames its innovations as transformative for monitoring practices during labor and delivery and is advancing through clinical-stage development and expert evaluation. Raydiant Oximetry, based in San Ramon, CA and founded by Neil P. Ray, develops two clinical-stage technologies: Lumerah™, a low-cost, non-invasive sensor that continuously monitors fetal oxygenation during labor, and Daisy™, a surgical device to quantify blood loss, treat uterine atony and prevent postpartum hemorrhage after C-section. The company is focused on improving outcomes for mothers and babies during childbirth. Raydiant plans to use its new funding to support two clinical studies of Lumerah and Daisy being conducted at Eastern Virginia Medical School under Dr. George Saade. The studies aim to generate clinical evidence to validate performance and safety in labor and delivery settings. Raydiant is pursuing regulatory and clinical pathways typical for medical devices as it advances these technologies through clinical evaluation. The company recently raised extension funding to advance those clinical programs. Raydiant Oximetry is a clinical-stage medical device company based in San Ramon, CA focused on improving women’s and neonatal health. Its core product is LUMERAH™, a non-invasive fetal oximeter designed to detect fetal distress during labor and delivery. LUMERAH is an investigational medical device and is not currently approved for commercial sale. The company is led by founder and CEO Neil Ray, MD. Raydiant raised $5M in a Series A2 financing and intends to use the funds to complete a clinical study at the University of Texas Medical Branch in Galveston. The UTMB study, with Dr. George Saade as principal investigator, is part of clinical research supported by the NIH Maternal‑Fetal‑Medicine Network to advance validation of the device. Raydiant Oximetry is a Mountain View, California medical device company that has developed a noninvasive fetal monitor to directly measure a baby’s oxygenation during pregnancy and childbirth. Founded in 2016 and led by CEO Dr. Neil P. Ray, the company is in residence at the Fogarty Institute for Innovation. It has demonstrated feasibility of the technology in pregnant women through an IRB‑approved study and validated results in animal models. Raydiant holds two issued patents protecting the core technology and expects up to ten more patents over the next 36 months. The company raised $1M in seed funding and intends to use the proceeds to build a subsequent prototype with improved accuracy and reliability.

Led · Series A · May 2021

Elucid's core product, PlaqueIQ, is an AI-powered computed tomography angiography (CTA) analysis software that objectively quantifies and characterizes arterial plaque and is FDA-cleared. The software simulates histology and is validated against tens of thousands of tissue annotations by pathologists. Elucid is pursuing an additional indication for non-invasive fractional flow reserve measurement (FFRCT) uniquely derived from its PlaqueIQ technology. The plaque analysis software is commercially available in the U.S., UK, EU, and South Korea. The company has been ramping commercial efforts, expanding clinical research and development, and has significantly bolstered its leadership team. Financially, Elucid announced an $80 million Series C and has raised $121 million in total funding since inception. Elucid builds interpretable, validated AI software that non-invasively quantifies atherosclerotic plaque characteristics compared to histopathology, including lipid rich necrotic core. Its machine-learning algorithms characterize tissue types in the artery wall and power applications that derive FFRct, estimate risk of heart attack/stroke, and produce expression-prediction outputs to inform therapeutic selection. The platform enables physicians to diagnose causes of chest pain and detect early-stage heart disease not visible with alternative methods. The software is FDA-cleared and CE-marked and is commercially available in the U.S., Europe, and South Korea. Led by CEO Blake Richards, the company intends to use new funding to accelerate growth and further development efforts. No revenue or user metrics were reported in the article. Elucid develops interpretable, validated AI software (ElucidVivo) to help physicians detect cardiovascular disease and optimize treatment decisions. ElucidVivo is the first FDA-cleared and CE-marked non-invasive software to quantify atherosclerotic plaque characteristics versus histopathology, including lipid-rich necrotic core, and is commercially available in the U.S. and Europe. The company has published studies on deriving fractional flow reserve (FFRct) from vasodilative vessel-wall capacity and on estimating coding and non-coding RNA transcripts (“Virtual Transcriptomics”). Management says the technology aims to reduce invasive procedures, improve diagnostic power, and enable precision medicine for cardiac and neurovascular patients. Recent hires include Jason Bottiglieri as Chief Commercial Officer and Murali Ayyapillai as Vice President of Engineering to support commercialization and product development. The company plans to continue advancing and commercializing its platform to improve outcomes and reduce healthcare costs.