Organ transplant company Paragonix Technologies raises $24M and more digital health fundings

Health & Wellbeing

Organ transplant company Paragonix Technologies scored $24 million in Series B funding led by Signet Healthcare Partners.

The company developed three FDA-cleared and CE-marked devices – Paragonix SherpaPak, LUNGguard Donor Lung Preservation System and the LIVERguard System – that incorporate digital tracking and communication technologies for organ tracking, reporting and monitoring. 

The company will use the investment to expand its commercial footprint, including its clinical service offerings and inventory, and advance its transplant innovations.

“This growth investment arrives at a critical moment as we strive to meet rising demands for our organ preservation products. We are excited to rapidly advance our innovation pipeline to enhance our ability to safely preserve and transport as many donor organs as possible. We are thrilled to have Signet as our partner in accelerating growth and achieving our ambitious long-term strategic objectives, and we look forward to leveraging their vast experience in the medical device market,” Dr. Lisa Anderson, CEO of Paragonix Technologies, said in a statement.

Shanghai-based SiYi Intelligence, specializing in medical rehabilitation robots, garnered nearly $15 million in Series A funding.

Chengdu Bio-town Equity Investment Fund led the round, with participation from existing investor Tao Capital.

The company offers a robotic hand rehabilitation glove, EEG-based assistive brain-computer interfaces, an exoskeleton walking suit for lower extremity augmentation and transcutaneous electrical nerve stimulation devices and accessories. 

It will use the funds to speed up research and development of its integration solutions for neurorehabilitation and create its digital rehabilitation service platform. 

Aiberry, an AI-backed mental health screening platform, scored $8 million in seed funding, bringing its total raise to $10 million.

Confluence Capital Group led the round with participation from Ascension AI. 

Aiberry’s platform helps detect mental health disorders using conversations between an AI therapeutic assistant and the user, analyzing speech patterns and changes in facial expressions. 

The Seattle-based company will use the funds to speed up the adoption of its platform. 

“I would like to thank our investors, whose support is enabling us to rapidly establish trust among patients, consumers and providers by engaging with psychiatrists, psychologists, social workers, licensed mental health counselors and others who assess and treat mental health disorders,” Johan Bjorklund, co-CEO of Aiberry, said in a statement. 

Wave Life, a mental health platform for Generation Z, raised a $6 million seed investment led by Santé Ventures. 

Hannah Grey, Gaingels, Telocity Ventures and Joyance Capital also participated in the round. 

The California-based company offers on-demand virtual mental health coaching for individuals and employers aimed toward the Gen Z population along with a mental health coaching certification and training program.

It will use the funds to refine its product offering and expand in the employer space.

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