Smart AED Maker Avive Pockets $56.5M in Growth Funding

Avive Solutions has closed a $56.5 million growth equity financing. The round was led by Questa Capital, Laerdal Million Lives Fund (LMLF), and Catalyst Health Ventures, and included new investors RC Capital and Eckuity Capital.
 
The company said the new funds will be used to boost its U.S. commercial developments and expand its team with top talent. Avive also appointed Rik Vandevenna, managing partner at RC Capital, to its board of directors.
 
Avive aims to improve cardiac arrest survival rates by making automated external defibrillators (AEDs) ubiquitous with portable, ready-to-use devices in communities, schools, businesses, and homes. The company hopes to create a new paradigm where AEDs are accessed and used more often in the critical early minutes of cardiac emergency.
 
The Avive Connect AED has internet connectivity via cellular, WiFi, GPS, and Bluetooth. This powers a number of the company’s software solutions, including the Avive Intelligent Response Platform. This powers a program called the 4-Minute City, which the company said drives improvement of survival rates throughout the U.S.
 
The company partners with its 4-Minute Cities to use historical sudden cardiac arrest (SCA) data to deploy hundreds of Avive Connect AEDs throughout their community. The communities then use Avive’s software to network the AEDs into their 911 and public safety ecosystem through Avive’s partnership with intelligent safety company RapidSOS.
 
That way, the company is building a connected network of willing responders with AEDs that can be audibly alerted by 911, and dispatched with a map on the device and via SMS to a nearby SCA emergency, with the goal of an AED being used on the patient well before EMS arrives on scene.
 
“Since we successfully launched our Avive Connect AED in the summer of 2023, we’ve been incredibly encouraged by the tremendous demand we’ve seen for our lifesaving technology,” said Sameer Jafri, Avive’s CEO. “Most importantly, our device has already saved numerous lives. Just last week in Georgia, a young man in his 30’s collapsed during his regular morning run, and was resuscitated by a quick-thinking police officer who used the Avive Connect AED. Because of the product our team has made possible, and the foresight of that police department to equip their vehicles with Avive Connect AEDs, that gentleman now has a chance to have an entire life ahead of him. We are grateful for the strong support from our investors, and look forward to partnering with them to enable many more lifesaving stories and impact.”