Luminate Medical raises USD 15 million to accelerate innovative cancer care technology

Galway-based start-up Luminate Medical has secured USD 15 million in Series A funding to accelerate the development of its cutting-edge medical technologies aimed at preventing chemotherapy side effects. The investment round, led by ARTIS Ventures, also saw participation from Metaplanet, Lachy Groom, and 8 VC, alongside healthcare executives from companies like Dexcom, and additional support from Sci Founders, Faber, and others. Winner of the 2022 EIT Health Catapult Audience Choice Awards, Luminate Medical was founded in 2018 as a spin-out from the University of Galway. The start-up is pioneering wearable medical devices that mitigate painful chemotherapy-induced side effects such as hair loss and peripheral neuropathy. We are delighted that Luminate has achieved such an impressive fundraising success, having supported them to build their pan-European visibility through EIT Health Catapult. Luminate’s innovations have the potential to transform cancer care and we’re proud to have played a part in fast-tracking their important work for the benefit of patients across Europe and beyond. Magda Krakowiak, EIT Health Accelerator Director This latest funding brings the company’s total financing to over USD 25 million, following a USD 5 million investment in May 2022 and significant grant funding from sources like Europe’s EIC Accelerator and Enterprise Ireland’s Disruptive Technology Innovation Fund. Luminate Medical’s first product, Lily, is a wearable cap designed to prevent...