Volta Medical, a Marseille, France-based HealthTech startup, working on novel artificial intelligence (AI) algorithms to treat cardiac arrythmias, raised $28m in financing.
The round was led by Gilde Healthcare with participation from existing shareholder Pasteur Mutualité. In addition, Janke Dittmer, General Partner at Gilde Healthcare, joined as a board member while former medical device industry top executive Denis Gestin joined as an independent board member.
The company intends to use the funds to establish its FDA-cleared and CE marked VX1 AI software solution as a new standard of care, pursue further R&D activities and start to roll out commercial activities across the US and Europe.
Founded by three physicians and a data scientist in 2016 in Marseille and led by Theophile Mohr-Durdez, CEO, Volta Medical is a HealthTech company developing AI software solutions to assist cardiac electrophysiologists in the operating room. Its first product, VX1, assists cardiologists for the real-time identification of specific abnormal electrograms, known as dispersed electrograms. It is a medical device which is FDA cleared and has a CE mark.
After developing the first commercially available AI software to help electrophysiologists improve management of cardiac arrythmias, Volta Medical is now preparing to transform the way ablation procedures will take place in the future.