Burlington, Vt.-based startup CoreMap has secured $10.5 million in a Series A funding round led by Qure Ventures.
Founded in 2016, CoreMap is taking aim at atrial fibrillation (AF) with technology designed to map complex arrhythmias inside the heart. The company’s patented system combines an electrode pair design in a high-density array configuration with algorithm-driven mapping and visualization software to help electrophysiologists make more informed therapeutic decisions and improve patient outcomes.
The Series A round included both existing investors such as Dr. Ronny Ginor of Fifth Focus/HRMG Investments and Orbimed Venture Partners. The funds will be used to accelerate CoreMap’s product development and regulatory submission for its first products.
“CoreMap’s inventions have broad potential for biological sensing which in turn may unlock patient-specific treatment for the millions of people suffering with persistent AF issues,” Ginor said in a news release.
“We are building a group of smart, hardworking, innovative, people committed to delivering a cure
for AF,” said CoreMap CEO and co-founder Sarah Kalil. “Having the financial support and domain expertise of the health tech pioneers that are resident in our investor group will allow us to better execute on our vision and change lives.”
CoreMap also recently won a National Science Foundation Phase I SBIR grant to support development of its technology. And it was a 2019 member of the MedTech Ignite Growth Challenge Cohort assembled by the Massachusetts Medical Device Industry Council (MassMEDIC) virtual accelerator program, which relaunched last year.
“We congratulate Sarah Kalil and her team at CoreMap on the financing,” said MassMEDIC president Brian Johnson in a separate statement. “CoreMap is the first Ignite founder to secure a Series A round but will surely not be the last.”
Kalil now serves on the board of RBI Medical, an Ignite 2020 cohort member company.
“MassMEDIC Ignite helped us in many ways and we are grateful to have participated in the first year of the program’s relaunch,” Kalil said. “Thanks to Ignite, we honed our pitch, received great counsel on financial, legal and regulatory issues—and perhaps most importantly, Ignite provided CoreMap national exposure and introductions to a well-connected support network.”
