Renovia Inc. is a biotech startup that was created to develop health products for women affected by the pelvic floor problems. The mission of the company is to come up with high-quality products that utilize the latest cutting-edge technology that will offer low-cost treatment solutions for the affected persons. The prominent product that they have is the Leva pelvic digital health system, a digital platform that allows victims to engage in the correct pelvic exercises. By engaging in the right exercise routine, victims can manage to eliminate excessive urinary frequency and strengthen muscles to relieve incontinence. Renovia Inc has already obtained the FDA approval for a number of its products. As the organization invests more into their operations, there is hope that patients will receive better and advanced treatment methods from Renovia.
In order to meet their goals, the management went out to acquire Series B funding. This comes after successfully raising funds through the Series A funding round which allowed them to lay the groundwork for product development. Now the funds obtained through Series B funding will be used in the development of more new products and the improvement of existing products. Other funds will go into clinical trials, commercialization of products and boosting the operations of the company.
The Series B funding helped Renovia Inc to raise 42.3 million. $10 million was obtained through the venture debt, and $32.3 million raised through Series B equity. In the process of raising these funds, Renovia attracted the attention of investors such as Longwood fund, OSF ventures, and Western Technology Investments. The Longwood Fund is one of the prominent investors in Series B funding. Judging from the kind of investors who have been attracted by the business model of Renovia Inc, it is clear that this organization is engaged in activities that could lead to huge success in the future. Before investors can put the money into a project, they must be convinced that they will be earning profits from the investment.
The funds received by Renovia will allow it to engage in building high tech digital health platforms as well as wearable devices that will improve health care management. The Leva health system is designed in such a way that it helps victims of pelvic floor disorders to obtain crucial data on the status of the pelvic muscles. They can be able to know the areas that have weaknesses and therefore engage in exercises that will direct attention to these sections.
Through solutions developed by Renovia Inc, it is clear that we will soon have a better way of handling pelvic floor problems. The stigma that has been associated with this disorder will be a thing of the past as a holistic treatment method will be available.
Marc Beer has worked in the biotechnology sector for two decades, and his expertise in different fields of biotechnology allows him to come up with ideas which link technology to medicine. Learn more: https://renoviainc.com/