Onera Health, a leader in sleep diagnostic and monitoring solutions, closed a €30M ($32M) Series C financing round. The all-equity round was led by EQT Life Sciences and co-led by Gimv, with existing investors Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock participating.

Amsterdam, The Netherlands. January 16, 2024 – EQT Life Sciences is pleased to announce that the EQT Health Economics strategy has invested in Onera Health (or “the Company”), a pioneer and leader in remote sleep diagnostic and monitoring solutions enabling clinicians to conduct sleep studies anytime, anywhere. This Series C financing round was led by EQT Life Sciences, co-led by new investor Gimv, and joined by existing investors, including Innovation Industries, Invest-NL, imec.xpand, BOM, and 15th Rock.

Onera Health focuses on breakthrough sleep testing solutions that are quick, convenient, and clinically accurate. With more than one in four of the adult western population suffering from some form of sleep disorder, the Company’s technology enables clinicians to better research and ultimately address disorders that can have a major impact on people’s health. The user-centric technology of their polysomnography (PSG) system brings clinical-grade PSG diagnostics and monitoring directly to the patient’s bed — in the comfort of their own home. The MedTech and Digital Health company operates in the U.S., the Benelux, and the DACH region.

This strong backing will allow the Company to accelerate manufacturing and deployment plans to meet the growing customer demand for its innovative, self-applied, no-wire end-to-end solution. Furthermore, the company intends to use the funds to expedite the clearance of the second generation of its PSG system in Europe and the United States, further underlining the ambition to position itself as a leader in home PSG within the field of sleep medicine.

Drew Burdon, Partner at EQT Life Sciences, said: “We all know the effect of a bad night’s sleep on our day. But for those that suffer with sleep disorders, this is more than an inconvenience, and can have a major long-term impact on their health. Onera Health’s disruptive medical technology is helping accelerate the diagnosis of these disorders and has the potential to have a meaningful impact on society. The Company has demonstrated a very strong product-market fit with great potential to improve the quality of patient care, whilst also positively impacting the cost of healthcare. Onera is a fantastic fit for the EQT Health Economics strategy and we could not be more thrilled to be supporting the next phase of their journey.”

“We are delighted that two premier Life Sciences investors, as well as our existing world-class investors, have the confidence to join and support us in the next phase of our company journey,” said Ruben de Francisco, Founder and CEO of Onera Health. “This capital infusion will accelerate our ability to scale in the US and Europe. We will continue aggressively investing in R&D, customer success, and geographic expansion to help the medical field provide the much-needed answers for millions of people affected by sleep disorders. We are incredibly proud and humbled by our success to date and look forward to driving growth together with our new partners.”

As part of this transaction, Drew Burdon and Michaël Vlemmix (Partner, Gimv) will join Onera Health’s Board of Directors.

Contacts

EQT Press Office, cerff@rdgcnegaref.pbz

About EQT Life Sciences

EQT Life Sciences was formed in 2022 following the integration of LSP, a leading European life sciences venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs entrepreneurs who have ideas that could truly make a difference for patients. The team combines deep sector knowledge, analytical skills, and investment experience to provide the added value that entrepreneurs seek. For more information, go to eqtgroup.com/private-capital/life-sciences/.

About Onera

Onera Health is a leader in transforming sleep medicine and remote monitoring. Their breakthrough diagnostic solutions and services are poised to help millions of people struggling with sleep-related ailments while also impacting other medical fields by monitoring various chronic conditions, ultimately improving the health and quality of life of patients worldwide. The company’s innovative solutions provide comprehensive sleep test data to physicians in a variety of clinical and non-clinical environments to optimize patient care and reduce healthcare costs. Onera has offices in the Netherlands and the US. For more information, go to onerahealth.com.