Eargo, a Mountain View, CA-based direct-to-consumer hearing technology company, closed the first tranche of an aggregate $45m Series C funding round.
The round was led by Nan Fung Life Sciences with participation from New Enterprise Associates (NEA), Charles and Helen Schwab, and Maveron.
The company intends to use the funds to accelerate product innovation, marketing and branding initiatives.
Led by Christian Gormsen, CEO, Eargo provides Class I, FDA-regulated hearing devices created by a team of licensed professionals and designed for mild to moderate hearing loss and not to restore normal hearing.
The devices are sold in couple via a direct-to-consumer model.