Series C Funding Round Nets Onera Health More Than €30 Million

Onera Health has completed a Series C financing round that brings its total investment to date to more than €55 million.
 
The latest round was led by new investor EQT Life Sciences, investing from its EQT Health Economics 3 fund, co-led by new investor Gimv, and joined by existing investors including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock. The backing will allow the company to accelerate manufacturing and deployment plans to meet growing customer demand for its self-applied, no-wire end-to-end solution. Furthermore, Onera Health will use the funds to expedite clearance of its second-generation polysomnography (PSG) system in Europe and the United States.
 
“We are delighted that two premier life sciences investors as well as our existing investors, have the confidence to join and support us in the next phase of our company journey,” Onera Health Founder/CEO Ruben de Francisco said. “This capital infusion will accelerate our ability to scale in the U.S. and Europe. We will continue aggressively investing in R&D, customer success, and geographic expansion to help the medical field provide the much-needed answers for millions of people affected by sleep disorders. We are proud and humbled by our success to date and look forward to driving growth together with our new partners.”

Onera Health focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. The user-centric technology of its PSG system brings clinical-grade PSG diagnostics and monitoring directly to the patient’s bed in their own home. The company operates in the United States, the Benelux, and the DACH region.
 
“Onera Health, with its disruptive medical technology, is a perfect fit for the EQT Health Economics strategy. We are dedicated to growing companies with the potential to have a meaningful impact on society, and Onera is aligned with this mission,” EQT Life Sciences Partner Drew Burdon stated. “The company demonstrated a very strong product-market fit with great potential to improve the quality of patient care while also positively impacting the cost of healthcare. We could not be more thrilled to be supporting the next phase of their journey.”
 
“Gimv’s Life Sciences’ partnership with Onera Health is driven by the shared commitment to addressing unmet clinical needs. Onera is perfectly positioned to support the continued growth potential of hospital-quality care at the patient’s home through its sleep diagnostic solution. With its team and patch-based technology, we believe Onera can and will democratize the gold-standard in sleep medicine,” Gimv Life Sciences Partner Michaël Vlemmix added.
 
As part of the funding round, Burdon and Vlemmix will join Onera Health’s Board of Directors. 
 
Onera Health’s sleep medicine and remote monitoring diagnostic solutions and services provide comprehensive sleep test data to physicians in various clinical and non-clinical environments to optimize patient care and reduce healthcare costs. Onera has offices in the Netherlands and the United States. 
 
EQT Life Sciences was formed in 2022 by integrating LSP, a European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised more than €3 billion and supported the growth of 150-plus companies since it started to invest over 30 years ago. With a team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT LifeSciences backs the smartest inventors who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that inventors seek. 

Gimv is a European investment company listed on Euronext Brussels. With more than 40 years of experience in private equity, Gimv currently has €1.6 billion of assets under management. The portfolio has around 60 companies, with a combined turnover of €3.7 billion and 20,000 employees. Gimv identifies entrepreneurial companies with high growth potential and supports them in their transformation into market leaders. Gimv’s five investment platforms are Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. In Life Sciences, Gimv focuses on European R&D-focused companies developing breakthrough solutions that have a positive impact on human health, from early preclinical proof of concept through to late-stageclinical trials.