Vapotherm, a US-based producer of respiratory devices, has raised $24m in its series B funding round.
The series B was led by Gilde Healthcare Partners, the venture capital firm that received an anchor investment for its last fund from electronics congolomerate Philips.
The round also included new investor Adage Capital Management, as well as existing investors Kaiser Permanente, the corporate venturing arm of care consortium Kaiser Permanente, 3×5 Special Opportunity Fund, Morgenthaler Ventures, Integral Capital Partners, QuestMark Partners and Cross Creek Capital.
The company previously raised $29m in its series A, which was led by 3×5 Special Opportunity Fund in 2013, when it moved its headquarters from Maryland to Exeter, New Hampshire, in order to gain access to New England’s medical technology industry. Vapotherm also appointed Geoff Pardo, general partner of Gilde Healthcare Partners, to its board of directors in conjunction with the round.
Vapotherm intends to use the new funds to expand its global reach.