Volta Medical announced this week that it raised $28 million in a financing round for its AI algorithms for treating cardiac arrhythmias.
Marseille, France-based Volta Medical said in a news release that the $28 million, raised in a round led by Gilde Healthcare with participation from existing shareholder Pasteur Mutualité, will help the company establish its VX1 AI software solution as a new standard of care.
VX1 is a machine- and deep-learning algorithm designed to assist operators in the real-time manual annotation of 3D anatomical and electrical maps of the human atria during Afib or atrial tachycardia. The company received FDA clearance for the platform in December 2020.
The company also expects to utilize the funds raised to pursue further R&D activities and begin the rollout of commercial activities across the U.S. and Europe, as the device has CE Mark approval, too.Volta is currently recruiting for an international multicenter trial called Tailored-AF.
In addition to the funding, Volta will add two board members, with Gilde Healthcare general partner Janke Dittmer joining while Denis Gestin has been appointed as an independent board member.
We are excited to be able to complete our highly ambitious medical program with the start of TAILORED-AF, a new randomized controlled trial (RCT),” Volta Medical CEO & co-founder Theophile Mohr-Durdez said in the release. “This trial aims to demonstrate how our AI software can help physicians optimize both efficacy and efficiency when performing complex procedures to treat heart rhythm disturbances.”