Rhaeos Raises $2.2M in Seed Funding

Rhaeos, Inc., a Evanston, Ill.-based clinical stage medical device company developing a platform wireless and non-invasive wearable sensor initially targeting the neurosurgical suite, closed a $2.2m seed financing.

The round, which brings a total of over $8m in dilutive and non-dilutive financing to date, included participation from Creative Ventures, Portal Innovations, Lateral Capital, Cedars-Sinai Accelerator, Kyto Life Science and Technology, Band of Angels, Northwestern University’s NXT Fund, University of Michigan Social Venture Fund, and private investors.

Rhaeos, Inc. is a private, clinical stage, medical device company, formed out of the John A. Rogers Research Group at Northwestern University, focused on developing wearable sensors to improve care of patients suffering from chronic and difficult-to-treat conditions. The company’s novel FlowSense™ noninvasive wireless sensor addresses a clinical unmet need for patients with hydrocephalus and is funded by the National Institute of Health, National Science Foundation, the Pediatric Hydrocephalus Foundation, the Southwest Pediatric Device Consortium, the National Capital Consortium for Pediatric Device Innovation, the UCSF-Stanford Pediatric Device Accelerator, the West Coast Consortium for Technology & Innovation in Pediatrics, MedTech Innovator, and private and institutional investors.

Proceeds will be used to prepare for the 2022 commercial launch of FlowSense™, the company’s first product.