As the count for fundraising rounds fell across the board in 2016 in the medical devices space, early stage round count registered the maximum dip by 16%, followed by late (11%) and seed (8%). With funding dollars increasing by more than 50% from previous year, the medical devices space saw 114 companies emerge.
Funding dollars increased for both late (10%) and seed (7%) but showed a slightly downward trend for early (5%). Average ticket size increased particularly for seed (11%) and Series A (45%) investments with the a 7% drop for Series B.
As Western Technology Investment with funding dollars in 60 companies and NEA in 59 emerged as the most active investors in this sector, top investments in the last year include Verily raising $800M through a private equity round led by Temasek followed closely by Intarcia raising $215M (Series J ) in September.
By stage of entry, High-Tech Grunderfonds topped the investor list for seed with investments in 19 companies, NEA emerged the leader for both Series A (19) and Series B (22); JJDC led for late stage with investments in 30. Overall, NEA with investments in 69 companies for Series A and beyond came out as a top investor in this sector in 2016. As 15 companies went public since 2015, Abbott Medical Optics getting acquired by JnJ for $4.3B was the highest disclosed deal value among the 15 acquisitions that took place between Jan-Feb, 2017.
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