Koya Medical has raised $26m in a Series B financing round to advance its portfolio of active compression therapies for lymphedema and venous disorders.
The California-based healthcare technology company provides a portfolio of advanced, people-centric platforms for lymphatic and venous care.
Led by 3×5 Partners, the funding round has also seen participation from new investors Asahi Kasei Ventures, Cadence Healthcare Ventures.
Existing investors including Arboretum Ventures and Scientific Health Development, along with others, have also participated in the Series B round.
3×5 Partners managing director Joe Biller said: “Koya Medical is an innovative company that has the leadership, insights, and capabilities to bring ground-breaking treatment options that provide greater freedom and more mobility to patients with lymphedema and venous disorders.”
Koya intends to use the financing to support the expansion and commercialisation of its Dayspring active compression system.
In addition, the company will continue to advance the Dayspring platform research programmes to pursue additional indications for lymphedema and venous disorders.
Dayspring is a wearable active compression system, approved by the US Food and Drug Administration (FDA) to treat of lymphedema and other similar conditions.
The system includes an active garment, a soft, breathable mesh produced using Koya’s unique Flexframe technology, a rechargeable hand-held controller, and a mobile app.
It is the first and only compression therapy option that enables movement, mobility, and personalised care, that cannot be achieved with traditional therapy, said Koya.
Koya Medical founder, president, and CEO Andy Doraiswamy said: “Welcoming new investors alongside our existing investors further validates our progress and commitment to developing innovative patient-centric solutions.
“We are proud to have the support of experienced medtech investors who believe in our vision to reimagine treatment options that transform lymphatic and vein care and impact the lives of millions of patients.
“The financing strengthens our ability to provide a comprehensive suite of active compression solutions that enable natural movement and muscle use to promote healthy fluid flow and help improve the quality of daily life for people living with lymphedema, venous insufficiency, and other chronic swelling disorders.”
