GE Ventures, the corporate venturing arm of industrial technology manufacturer General Electric, has participated in a $100m series D round for US-based electrophysiology technology developer Acutus Medical.
8VC, Opaleye Management, Pura Vida Investments, OrbiMed, Deerfield Management Company, Advent Venture Partners and Xeraya Capital also contributed to the equity portion of the round, which was secured alongside a $70m credit facility supplied by OrbiMed Credit, Royalties Fund and Deerfield.
Founded in 2011, Acutus is developing cardiac imaging and mapping technology that is intended to provide a 3D view of a patient’s heart and heartbeat to help treat arrhythmia.
In addition to the AcQMap technology, Acutus has also developed an imaging and mapping catheter and an intracardiac device used for electrophysiology procedures, as well as a steerable sheath that assits with the intracardiac placement of implants.
The capital will be used to accelerate commercialisation of the company’s AcQMap, AcQCross QX, AcQGuide Flex and AcQGuide Mini products.
Acutus had secured $75m in a 2016 series C round backed by GE Ventures, Deerfield Management, Xeraya Capital, OrbiMed, Advent offshoot Advent Life Sciences and an undisclosed strategic investor.
GE Ventures, OrbiMed and Advent Life Sciences had joined Index Ventures to supply $28m for Acutus in 2013, as part of a series B round that closed at $48.6m the following year according to a regulatory filing.
The company had secured $5.5m and $3.5m in debt financing over the course of 2011 and 2012 according to securities filings, and it identified Advent and Index as existing investors in the series B round.