Nevro, a US-based maker of medical devices to treat pain, has raised $48m in its series C round from a consortium including corporate venturing units.
Novo Ventures, the quasi-corporate venturing unit of the eponymous Denmark-based drugs group’s foundation, led the C round, alongside corporate venturing peers from US-based healthcare companies Johnson & Johnson, Mayo Clinic and Covidien and venture capital firms New Enterprise Associates, Accuitive Medical Ventures, Bay City Capital, MPM Capital and Three Arch Partners.
In July 2011, Johnson & Johnson Development Corporation led a $58m round for Nevro. A Nevro spokesman said then that the company had raised $105m in its history.