Avive Solutions raises $7 million
Avive Solutions, the company focused on addressing the global public health issue of Sudden Cardiac Arrest, has raised $7 million in funding, bringing the total raised to over $15 million since the its inception in 2017. This round was led by new investor, Laerdal Million Lives Fund, with participation from Kenko Venture Partners, Irish Angels, and numerous renowned medical device executives and healthcare leaders from current and past companies such as ResMed, Hill-Rom, Evalve, and Northwestern Health.
With national average survival rates of <10%, SCA accounts for over 350,000 out of hospital deaths per year in the US, and it is the leading cause of death of people over age 40, and the leading cause of death for student-athletes. While CPR can help to “buy time,” a person in SCA must ultimately receive a high energy defibrillation shock delivered from an AED to survive, and every minute that a person goes without receiving a defibrillation shock reduces their chances of survival.
The California-based startup is developing a “next-generation” automated external defibrillator and software solutions for out of hospital cardiac arrest response in an effort to increase survival rates.
“Over the past two decades, despite the AED industry deploying millions of units throughout the U.S., there has been no meaningful increase in SCA survival rates across the country. For more than 20 years, the industry’s status quo approach to addressing this significant problem has been to deploy more and more hardware that has modest incremental feature improvements, without addressing the true problem that is inhibiting tens of thousands of additional lives from being saved every year – which is simply getting AEDs where they are needed, when they are needed.” – Sameer Jafri, cofounder and president of Avive Solutions.
“By bringing data-driven connectivity in the form of an integrated software and device platform, we believe Avive can play a meaningful role across the Chain of Survival for cardiac arrest. By building a superior AED which includes features that create accessible CPR training, and developing a new system to improve rapid defibrillation, while also creating a data link to professional first responders, we are excited about the life-saving technology and opportunity Avive has in front of them, and we are passionate about helping them bring their product to millions of SCA patients.” – Jeff Trost, Managing Partner of Laerdal Million Lives Fund.