🇸🇪 Acorai closes $4.5 million investment from the European Innovation Council Fund
Acorai, a Swedish developer and manufacturer of innovative devices for heart failure management, announced the closing of a $4.5M investment from the EIC Fund, Taiwan Medical University, and private investors. The capital will be used to complete Acorai’s clinical studies and prepare for regulatory submissions in the US and Europe.
Patient enrollment for Acorai’s flagship clinical study, the CAPTURE-HF study, has been completed successfully, with over 1600 patients across 20 hospitals and 6 countries. With its FDA Breakthrough Device Designation in place and working closely with the FDA through the TAP Pilot, Acorai targets regulatory submissions and commercial launch by 2026.
With an additional $6M provisioned from the EIC Fund for future equity financing, Acorai is preparing to raise additional capital in 2025 to fund further clinical validation, regulatory approvals and early commercialisation.
Acorai CEO Filip Peters commented, “We are happy to welcome the EIC Fund as an investor in Acorai and look forward to working closely with the fund as one of Europe’s leading deep tech investors. Acorai is at a transformative point and has built a solid foundation to become a world leader in non-invasive cardiac care. With more than $6M in additional capital provisioned from the EIC Fund to Acorai’s future funding rounds, this investment will allow Acorai to scale up its clinical and regulatory efforts to reach the market. This represents another important step toward bringing our solution to the market, with the potential to impact over 60 million heart failure patients worldwide positively.”
About EIC Fund
The European Innovation Council Fund from the European Commission is an agnostic fund that invests across all technologies and verticals and all EU countries and countries associated with Horizon Europe. It provides the investment component of the EIC Accelerator blended finance.
The EIC Fund aims to fill a critical financing gap. Its main purpose is to support companies in the development and commercialisation of disruptive technologies, bridging with and crowding in market players and further sharing risk by building a large network of capital providers and strategic partners suitable for co-investments and follow-on funding.
The Fund pays particular attention to the empowerment and support of female founders and the ambition to reduce the innovation divide among EU countries.
About Acorai
Acorai is transforming non-invasive cardiac care and is dedicated to improving patient outcomes and empowering clinicians with next-generation technology for enhanced patient management. Acorai’s patented SAVE Sensor System received FDA Breakthrough Device Designation in 2023, enabling Acorai’s participation in the FDA Total Product Life Cycle Advisory Program (TAP) Pilot. Supported by leading institutional medtech investors, healthcare systems, and strategic partners, Acorai is committed to shaping the future of cardiac care through non-invasive innovation.
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Originally published on 27 November by Acorai.
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