MATTER Startup Shoutouts: Spring 2023

Every day, innovators across the MATTER community are building new solutions that accelerate innovation, advance care and improve lives. Over the last three months, MATTER startups raised more than $40 million, fostered impactful partnerships and much more.

There’s no shortage of good news to celebrate in the MATTER community. Learn more about our community’s impressive accomplishments below.

Seven MATTER members received strategic investments or completed raises.

Able Innovations received $800K from the Government of Canada to bring its patient transfer portal to market.
Able Innovations, a medical device company, received an investment of nearly $800,000 from the Federal Economic Development Agency of Canada. The funding will help Able Innovations purchase new equipment to advance the manufacturing process of the ALTA Platform™, their patient transfer device, and bring it to market. Able also recently sold multiple units to Bruyère, an academic healthcare organization.

Dimension Inx raised $12M to accelerate the commercialization of a new generation of regenerative therapeutics.
Dimension Inx, a biomaterials platform company, raised a $12 million Series A led by Prime Movers Lab with participation from KdT Ventures, Revolution’s Rise of the Rest Seed Fund (ROTR), Solas BioVentures, Portal Innovation Ventures and Alumni Ventures. The company plans to use the funding to advance the development of their therapeutics focused on functional organ restoration and expand their manufacturing capabilities.

JupiterDX raised $500K to accelerate the development of their chronic care management platform.
JupiterDX, a chronic care management company, raised a $500,000 pre-seed round with Drive Capital, a leading venture capital firm in the Midwest, to further advance their solution that allows patients to consolidate and track all their health data, from symptom tracking to wearable information. As data is collected, Jupiter is able to provide feedback on how to best optimize a user’s health.

OpenLoop Health raised $15M to meet record-breaking company growth.
OpenLoop Health, a leader in white-label telehealth support services, raised a $15 million Series A led by Nava Ventures with participation from UnityPoint Health Ventures, PrimeTime Ventures, SpringTide Ventures and ManchesterStory. The company has seen record-breaking growth having reached 10,000 providers, signed more than 80 new clients and increased internal headcount by 640 percent. The funds will be used to accommodate the company’s growth and expanding client base.

Rhaeos raised $10.5M to support the in-hospital launch of their product FlowSense®.
Rhaeos, a clinical stage medical device company, raised a $10.5 million Series A led by Steel Foundation for Hope with participation from Creative Ventures and Lateral Capital. The funding will be used to support the in-hospital launch of the FlowSense shunt monitor, a wireless, non-invasive thermal sensor that rapidly monitors shunt function in people with hydrocephalus, and further develop Rhaeos’ product pipeline.

RhythmScience raised $6M to advance their cardiology data platform.
RhythmScience, a leader in cardiac data, raised a $6 million Series A led by Cedars-Sinai Health Ventures with participation from OCA Ventures and TenOneTenVentures. They plan to use the funding to accelerate the development of their Rhythm360 cardiology data platform, which offers providers a complete data system across hypertension, heart failure and rhythm disorders.

Sift Healthcare received a strategic investment from IKS Health.
Sift Healthcare, a healthcare payments analytics and data science company, received a strategic investment from IKS Health, a healthcare provider enablement platform. Sift and IKS will work jointly to bring their solutions to their existing customers as well as provider enterprises dealing with increasing operating costs, high input cost inflation, changing payer and regulatory rules and evolving consumer preferences.

Eight MATTER startups secured impactful partnerships to help expand and scale their businesses.

Carium partnered with Alio to improve health outcomes for people with chronic conditions.
Carium, a virtual care platform, and Alio, a medical technology company, announced a partnership focused on improving health outcomes for patients with chronic conditions. Alio’s remote patient monitoring platform will be made available through Carium’s network of solutions.

Cerebra partnered with Somnoware to integrate Cerebra’s autoscoring technology into the Somnoware platform.
Cerebra, a medical device company, and Somnoware, a cloud-based platform, partnered to integrate Cerebra’s autoscoring technology into the Somnoware platform. The partnership will enable automated sleep study scoring directly within the Somnoware platform. This integrated platform will reduce the time clinicians spend assessing sleep studies leading to reduced costs, decrease testing backlogs and allow clinicians to focus on patient care.

Embr Labs announced distribution partnerships making the Embr Wave® more accessible.
Embr Labs, a health wearables company, announced several distribution partnerships to make the company’s revolutionary thermal wearable, the Embr Wave, accessible through leading online retailers such as Amazon, CVS, Walmart, Target and more. The Embr Wave is patented technology that delivers precisely engineered cooling or warming Thermal Waves™ at the touch of a button for instant, discreet relief from menopause symptoms on demand.

Level Ex partnered with Gladskin to create custom, interactive gaming experiences for medical professionals.
Level Ex, the world’s leading medical video game studio, partnered with GladSkin to create interactive gaming experiences to educate and train medical professionals on the science of endolysin technology. The partnership will bring together leading minds across healthcare and interactive entertainment to achieve a common goal — create better experiences and outcomes for healthcare providers, staff and patients.

OPTT Health partnered with Canary Speech to evaluate patients’ mental state using their voices.
OPTT Health, a digital mental health technology company, partnered with voice AI specialist Canary Speech to increase OPTT’s AI mental healthcare toolbox usability for patients by allowing them to interact with the service exclusively with their voices. OPTT hopes this will make the patient experience even more seamless and user-friendly which is important for long-term monitoring purposes.

Supply Clinic partnered with ODP Business Solutions to deliver easy access to office supplies.
Supply Clinic, a free online marketplace for healthcare and dental supplies, partnered with ODP Business Solutions, previously Office Depot Business Solutions Division, to offer a wide range of office supplies on their marketplace. The partnership will increase productivity and efficiency for Supply Clinic customers who now have a one-stop-shop for healthcare, dental and office supplies.

StrongPath partnered with Tolmar to provide their patient assistance program for prostate cancer patients.
StrongPath, a digital care company, partnered with Tolmar, a pharmaceutical company, to provide a patient assistance program for prostate cancer patients. StrongPath will leverage Tolmar’s nationwide sales force and their existing relationships in the urology-oncology market to promote the program.

Soundable Health partnered with Valensa International to track and manage lower urinary tract symptoms.
Soundable Health, a digital health startup, and Valensa International partnered to evaluate the progression and management of lower urinary tract symptoms using proudP, Soundable’s FDA Class II mobile uroflow monitoring application.

Six MATTER startups received grants, won innovation competitions and reached key business milestones.

Aruna Revolution Health was named a finalist in Impact Canada’s Food Waste Reduction Challenge.
Aruna Revolution Health, a company creating 100 percent compostable menstrual pads, was named a finalist in Impact Canada’s Food Waste Reduction Challenge. As a finalist, Aruna will receive up to $450,000 to test their technology in an operational environment with at least one partner and will compete to win one of two grand prizes of up to $1 million.

HemaChrome won phase one of a National Institute of Health challenge.
HemaChrome, a digital health startup that uses smartphone technology to noninvasively and instantly measure blood hemoglobin levels, won phase one of the National Institutes of Health’s RADx Tech for Maternal Health Challenge. HemaChrome received a cash prize and was vetted by NIH’s panel of scientific, medical and business experts for technical and commercial viability.

metaMe Health received licensing rights to gut-directed hypnotherapy protocol for functional dyspepsia.
metaMe Health, a digital therapeutics company, announced it has licensed exclusive worldwide rights to use and distribute a newly developed gut-directed hypnotherapy protocol for the treatment of functional dyspepsia, a chronic disorder of the upper gastrointestinal tract that currently lacks substantially effective therapy options.

patientMpower was awarded a grant to investigate the outcomes of digitally-enabled care following lung transplants.
patientMpower, a digital health company, received a grant from the United Kingdom’s Small Business Research Initiative. The funding will be used to run a randomized, controlled trial comparing the clinical and health economic outcomes of a digitally enabled hybrid model of care versus standard care in the follow-up of patients after lung transplantation.

Pillar received SOC2 Type I certification.
Pillar, a white-label care management platform, announced they received their SOC2 Type I certification. From powering white-labeled coaching programs for health and wellness partners to scaling case management for at-risk populations, patient safety is Pillar’s highest priority.

Tell Health launched their new social media app Tell™.
Tell Health announced the launch of its new social media app, Tell™, where only verified health providers can post medical information and engage with the general public. Following over two years of development and beta testing, the app is now available for free in the App Store and Google Play.

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