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Sleep diagnostics company Onera Health bags over €30 million in funding
Onera Health, a Dutch company developing sleep diagnostics and monitoring solutions, raised over €30 million in funding. The company developed a patch-based sensor system that can record all sleep signals wirelessly.
The round was led by new investor EQT Life Sciences, investing from its EQT Health Economics 3 fund, co-led by new investor Gimv, and joined by existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock. This Series C financing round brings Onera’s total investment to more than €55 million.
Why you need to know this
Sleep disorders like insomnia can have a major impact on one’s quality of life. 2018 Gerard & Anton Award winner Onera Health developed a user-friendly sensor system to monitor sleep and diagnose potential disorders more easily.
This strong backing will allow the company to accelerate manufacturing and deployment plans to meet the growing customer demand for its innovative, self-applied, no-wire end-to-end solution. Besides that, the company is using the funds to expedite the clearance of the second generation of its polysomnography (PSG) system. A PSG is a test to diagnose sleep disorders. They focus on Europe and the United States, further underlining the ambition to position itself as a leader in home PSG (hPSG) within the field of sleep medicine.
Onera Health focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. The user-centric technology of their PSG system brings clinical-grade PSG diagnostics and monitoring directly to the patient’s bed— in the comfort of their own home. The medtech and digital health company operates in the United States, the Benelux, and the DACH region.
Scaling in the US and Europe
“We are delighted that two premier Life Sciences investors, as well as our existing world-class investors, have the confidence to join and support us in the next phase of our company journey,” said Ruben de Francisco, Founder and CEO of Onera Health. “This capital infusion will accelerate our ability to scale in the US and Europe. We will continue investing in R&D, customer success, and geographic expansion to help the medical field provide the much-needed answers for millions of people affected by sleep disorders.”
Drew Burdon, Partner at EQT Life Sciences, said: “Onera Health, with its disruptive medical technology, is a perfect fit for the EQT Health Economics strategy. We are dedicated to growing companies with the potential to have a meaningful impact on society, and Onera is strongly aligned with this mission. The company demonstrated a very strong product-market fit with great potential to improve the quality of patient care while also positively impacting the cost of healthcare. We could not be more thrilled to be supporting the next phase of their journey.”
“Gimv’s Life Sciences’ partnership with Onera Health is driven by the shared commitment to addressing unmet clinical needs. Onera is positioned to support the continued growth potential of hospital-quality care at the patient’s home through its innovative sleep diagnostic solution. With its top-notch team and innovative patch-based technology, we believe Onera can and will democratize the gold- standard in sleep medicine,” Michaël Vlemmix, Partner at Gimv Life Sciences.
Next month, Onera Health will showcase its product and discuss its impact at the AASM (American Academy of Sleep Medicine) event ‘Sleep Medicine Trends 2024’ on Feb. 23–24 in La Jolla, California.