Onera Health Raises $12 Million in Series B Funding

Onera Health, a developer of at-home wireless medical-grade sleep diagnostic monitoring system, closed a €10.5 million (~$12 million) Series B funding round.

Including the latest funding round, Onera Health has raised €24 million (~$29 million) to date.

The funding round was led by Innovation Industries with participation from Invest-NL and existing investors Jazz Pharmaceuticals, imec.xpand, BOM, and 15th Rock.

The company plans to use the funds to execute clinical studies and commercialize its sleep diagnostics and monitoring products in Europe and the United States.

“We’re going to leverage the funding to conduct progressively larger scale clinical studies, expand our partnerships in the EU and US and expedite product development to broaden our portfolio in sleep diagnostics and monitoring,” said Ruben de Francisco, Founder, CTO & interim CEO of Onera

Ruben de Francisc added: “This will facilitate the commercialization of our products and help the medical field provide the much-needed answers for millions who are affected by sleep disorders. We are excited to have such strong support from investors who share our vision.”

According to Onera Health, its solutions provide comprehensive sleep test data to physicians in various clinical and non-clinical environments to optimize patient care and reduce healthcare costs.

Harm de Vries, Partner at Innovation Industries, said: “We are delighted to lead this investment in Onera as the company is perfectly positioned to support the evolution of hospital-quality care to the home by its innovative sleep diagnostic products. With its world-class team, partners, and disruptive technology, we believe Onera can democratize gold-standard sleep medicine.”

Leo Holwerda, Director Capital of Invest-NL, added: “Our investment in Onera is another good example of how we support promising Dutch start-ups and innovative companies to bring high-impact technologies and solutions to the market.”

Mobile Wireless digital health devices have raised $403 million in the first half of 2020, according to Mercom’s latest digital health funding report.