Onera raises €10.5 million in Series B funding

The Eindhoven (NL) based Onera Health (read also other IO-articles on Onera Health) a leader in sleep diagnostic and monitoring solutions, closed the Series B funding round today, which brought the total funding raised to date above the € 24 million mark.

Onera focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. The user-centric technology of their PSG system enables not only at-home diagnostics but also offers opportunities for hospitals that have limited or no access to a sleep clinic to implement sleep diagnostic testing within their institution.

Led by Innovation Industries in close collaboration with Invest-NL and with existing investors Jazz Pharmaceuticals, imec.xpand, BOM and 15th Rock, the company intends to use the funds to execute clinical studies and further commercialize its sleep diagnostics and monitoring products in Europe and the United States. Onera has recently obtained the CE mark for its first product, an innovative polysomnography (PSG) system that brings the gold-standard quality of a hospital diagnostic system directly to a user’s home.

Strong support

“We’re going to leverage the funding to conduct progressively larger scale clinical studies. Also we want to expand our partnerships in the EU and US and expedite product development to broaden our portfolio in sleep diagnostics and monitoring”, said Ruben de Francisco, Founder, CTO & interim CEO of Onera “This will facilitate the commercialization of our products. It will help the medical field provide the much-needed answers for millions who are affected by sleep disorders. We are excited to have such strong support from investors who share our vision.”

Harm de Vries, Partner at Innovation Industries, said: “We are delighted to lead this investment in Onera as the company is perfectly positioned to support the evolution of hospital-quality care to the home by its innovative sleep diagnostic products. With its world-class team, partners, and disruptive technology, we believe Onera is able to democratize gold-standard sleep medicine.”

Leo Holwerda, Director Capital of Invest-NL added: “Our investment in Onera is another good example of how we support promising Dutch start-ups and innovative companies to bring high-impact technologies and solutions to the market.”

Eindhoven

Last month, the MedTech and Digital Health company showcased its first-generation product at the SLEEP 2021 congress and presented its latest research to renowned world-experts, further underlining the ambition to position itself as a leader in the field of sleep medicine.
Onera recently relocated its headquarters to the Brainport region in Eindhoven, the Netherlands, while maintaining commercial operations in the United States.