Irish Medtech Startup FIRE1 Raises $25m For Heart Failure Recovery

FIRE1 is a Dublin based medtech company that specialises in medical device solutions dedicated to improving outcomes for people suffering with chronic diseases. 

Its mission is to empower millions of people suffering from heart failure to get their normal lives back. The FIRE1 team is led by an experienced medical devices team that is working closely with world-leading researchers, clinicians, and patients to help reduce the burden of heart failure.

In recent news, the company has closed a $25 million financing round to accelerate the development of its monitoring solution to improve outcomes for heart failure patients.

The round was led by new investors Andera Partners and Novo Holdings, with participation and ongoing support from existing investors Gilde Healthcare, Gimv, the Ireland Strategic Investment Fund, Lightstone Ventures, Medtronic, New Enterprise Associates and Seventure Partners.

Conor Hanley, FIRE1’s CEO and President, said, “we are delighted to add two premier healthcare investors to our existing world-class syndicate. FIRE1’s ability to raise an oversubscribed financing from investors of this calibre is a testament to the size of the opportunity in front of us. I also want to thank our existing investors for their ongoing support. This capital will help us to achieve our mission of helping millions of heart failure patients around the world regain their normal lives.”

The company also has revealed an overall investment of $82.1 million. Aneta Sottil, Director of Andera Life Sciences, and Eric Snyder, Partner of Novo Holdings’ Venture Investments, have joined FIRE1’s Board of Directors.

Aneta Sottil, Director of Andera Life Sciences, commented, “we have been impressed by the FIRE1 team and their drive to change the lives of heart failure patients. We believe they have developed a connected medical device solution that has a truly ground-breaking potential. With yet stronger financial backing, the team has the opportunity to deliver a market-changing solution to help heart failure patients stay healthy and at home.”

Source: FIRE1

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