Indiana-based Neurava raises $650,000 in seed funding
Indiana-based Neurava recently raised $650,000 in seed funding led by Elevate Ventures. The round also saw participation from Purdue Foundry, First Leaf Capital, UCB Biopharma, iO Life Ventures and angel investors.
Neurava co-founder Jay Shah said, “We have put together a well-rounded group of investors consisting of venture capital firms, angel investors, Purdue Foundry and an important strategic partner, UCB Biopharma. Our group of investors bring more than just capital. They also share their experience in entrepreneurship, medical device development and the epilepsy space.”
“We are really pleased to receive such tremendous support from these top-tier firms and appreciate the confidence they’ve placed in our team. SUDEP is a risk faced by millions of people worldwide. With this funding, we can complete a prototype that we believe can have a massive impact on epilepsy patients and their caregivers,” added co-founder Vivek Ganesh.
The healthtech startup is developing a wearable device to monitor and alert for the impending risk of sudden, unexpected death in epilepsy (SUDEP). The new funding will allow the company to finish a final prototype and collect data through epilepsy monitoring studies, along with finalizing their insurance reimbursement strategy and acquiring talent.
Commenting about the development, UCB’s Charl van Zyl stated, “At UCB, we are driven to improve the lives of people living with epilepsy, and supporting the broader epilepsy community is at the forefront of everything we do. It is our goal to improve the detection, management and treatment of seizures, and the development of health technology is a key area of focus. We welcome the opportunity to partner on this much-needed area of research.”
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