Volta Medical, a French health technology startup working on artificial intelligence (AI) algorithms to treat cardiac arrythmias, has announced that it has successfully raised €23 million in financing round led by Gilde Healthcare with participation of existing shareholder Pasteur Mutualité.
The new capital will allow the company to establish its US Food and Drug Administration (FDA)-cleared and CE marked VX1 AI software solution as a new standard of care, pursue further R&D activities and start to roll out commercial activities across the USA and Europe. Recruitment for TAILORED-AF, an international multicentre trial has already started.
Volta Medical will also be welcoming two new Board members. Janke Dittmer, General Partner at Gilde Healthcare, has been nominated as a board member and former medical device industry top executive, Denis Gestin, as an independent board member.
After developing the commercially available AI software to help electrophysiologists improve management of cardiac arrythmias, Volta Medical is now preparing to transform the way ablation procedures will take place in the future, the company said in a press release.
Theophile Mohr-Durdez, CEO and co-founder of Volta Medical, said: “We are excited to be able to complete our highly ambitious medical program with the start of TAILORED-AF, a new randomised controlled trial (RCT). This trial aims to demonstrate how our AI software can help physicians optimise both efficacy and efficiency when performing complex procedures to treat heart rhythm disturbances.”