Participated · Series A · Oct 2023

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.

Participated · Series A · Nov 2022

Spintly develops a hardware-enabled, software-controlled access management platform that eliminates the need for traditional wiring by using its proprietary Bluetooth Low Energy (BLE) mesh networking technology. The system lets enterprises quickly retrofit or install door controllers, badges, and readers while maintaining secure local log storage during power outages. Spintly is layering AI-driven analytics onto existing camera infrastructure to enhance security insights for its customers. The company targets enterprise clients that operate large commercial buildings and multi-site facilities across India, the Middle East & Africa, and the United States. Founded by Rohin Parkar, Spintly combines wireless hardware devices with cloud software for centralized management. Financially, the company has secured an $8 million Series A round and previously closed a ₹3.5 crore extended seed round in January last year along with an earlier $5.36 million seed raise. The fresh capital will be used for product development, global expansion, and strengthening its AI capabilities.

Participated · Seed · Jan 2022

Rhaeos is a clinical-stage medical device company focused on addressing unmet needs in the care of people with hydrocephalus and developing wearable sensors for chronic conditions. Its core product, the FlowSense shunt monitor, is a wireless, non-invasive thermal sensor delivered as a small, bandage-sized patch that adheres above implanted shunt tubing. FlowSense rapidly monitors shunt function and wirelessly transmits critical data to a mobile app in minutes to support clinical decision making. Rhaeos received FDA Breakthrough Device Designation for FlowSense in 2020 and is currently evaluating the device in a multi-center FDA pivotal study in the US. The company intends to use the Series A proceeds to support an in-hospital launch of FlowSense and anticipates making the monitor commercially available to physicians and patients in 2023. The company is led by CEO Anna Lisa Somera. Rhaeos is a private, clinical-stage medical device company based in Evanston, Ill., formed out of the John A. Rogers Research Group at Northwestern University. The company is developing FlowSense™, a noninvasive wireless wearable sensor that addresses a clinical unmet need for patients with hydrocephalus and is initially targeted at the neurosurgical suite. Rhaeos has received support from federal and nonprofit sources, including the National Institutes of Health and the National Science Foundation, as well as foundations and pediatric device consortia. The company closed a $2.2M seed financing and has secured more than $8M in total dilutive and non-dilutive financing to date. Proceeds from the seed round will be used to prepare for the 2022 commercial launch of FlowSense. Additional institutional and accelerator supporters include MedTech Innovator and several pediatric device accelerators and consortiums.

Participated · Seed · Jun 2021

AOA Dx is a NYC-based company developing a detection test for ovarian cancer using its GlycoLocate™ platform. The platform focuses on glycolipids and tumor marker gangliosides and harnesses novel biomarkers through data science to improve early detection. Led by CEO and co‑founder Oriana Papin‑Zoghbi, the company’s initial focus is ovarian cancer. AOA Dx plans to use the new capital to open new lab facilities, expand its prospective ovarian cancer clinical trial (OVERT), and develop GlycoLocate into additional cancer areas. The company raised $17M in the latest round led by Good Growth Capital and has now raised $24M in total. Investors in the round include RH Capital, Y Combinator, Astia Fund, Adaptive Capital Partners, Gore Range Capital, LongeVC, The Helm, VU Venture Partners, FemHealth Ventures and diagnostic investors such as Labcorp Venture Fund. AOA Dx is developing AKRIVIS GD, a liquid‑biopsy assay intended to enable accurate early detection of ovarian cancer. In a landmark peer‑reviewed study in the Journal of Precision Medicine, the technology showed over 90% accuracy for detecting ovarian cancer, including early‑stage disease. The company says AKRIVIS GD has high sensitivity and specificity and would be the first available tool to enable early detection of ovarian cancer. AOA plans to use new funding to further develop the next generation of AKRIVIS GD and to expand its team. Teams are based in Boston, New York, and London, and the company participated in Y Combinator’s program in 2021. The work responds to a large unmet need: roughly 225,000 women are diagnosed annually and late detection drives high mortality, while early detection can dramatically improve five‑year survival rates. AOA is developing AKRIVIS GD, a blood-based liquid biopsy intended to detect ovarian cancer at earlier stages. The company reports that its proof-of-concept demonstrates high accuracy across all cancer stages and epithelial ovarian cancer subtypes. AOA says its technology detects 53% more patients with early-stage disease compared with the current standard, CA 125. The team partnered with Professor H. Uri Saragovi of the Lady Davis Institute/McGill University to develop the test. AOA is part of Y Combinator’s summer 2021 batch and raised seed funding to advance development. The company plans further prospective patient clinical trials and to pursue FDA regulatory processes to bring the test to market.

Participated · Series A · May 2021

Astrocyte Pharmaceuticals is a privately held, clinical-stage biopharmaceutical company based in Groton, Conn., focused on developing novel cerebroprotective therapeutics. Its lead candidate, AST-004, has shown efficacy across diverse small and large animal brain injury models and is being evaluated for a broad array of acute brain injuries including stroke and traumatic brain injury. Astrocyte is currently conducting Phase 1B clinical safety studies of AST-004 and is preparing for Phase 2 efficacy studies in 2024. The company is also assessing AST-004 in preclinical models of Alzheimer's disease to explore potential benefits in chronic neurodegenerative conditions. The announced financing will be used to accelerate clinical development of AST-004 and further preclinical assessment in Alzheimer's disease. Astrocyte positions its approach as a potential way to reduce astrocyte-induced excess inflammation and provide neuroprotection in combination and precision medicine strategies. Astrocyte Pharmaceuticals is advancing novel neuroprotective therapeutics intended to reduce brain injury from stroke, traumatic brain injury, concussion and other neurodegenerative conditions. Its lead therapeutic is based on technology licensed from the University of Texas Health Science Center at San Antonio. The company completed a Series A financing that raised $6 million. Proceeds from the round will be used to advance the lead program into Phase 1 human trials. Astrocyte describes itself as focused on addressing an unmet need for drugs that limit neurodegenerative brain injury. No operating metrics were disclosed in the article. Astrocyte Pharmaceuticals is a privately held drug development company focused on small‑molecule neuroprotective therapeutics for stroke, traumatic brain injury/concussion, and neurodegenerative disorders. The company is committed to proving the neuroprotective benefits of enhancing astrocyte function and advancing related therapeutic agents. Its lead program is AST‑004, which the company and investors cite as having promising preclinical efficacy and a novel mechanism of action. Astrocyte completed a Pre‑A financing that raised over $2.3M to support its development plans. The company intends to use proceeds to advance its first program into clinical studies. The press release also notes research support from the National Institute of Neurological Disorders and Stroke (NIH) and the Department of Defense under specific award numbers.