West Lafayette-based startup Neurava says it has received more than $650,000 in seed funding, allowing the young company to complete a final prototype of its technology. The developers have created a wearable device to monitor and alert for the impending risk of sudden, unexpected death in epilepsy, or SUDEP.
The funding was led by Indy-based Elevate Ventures with participation from Purdue Foundry, First Leaf Capital, UCB Biopharma, iO Life Ventures and angel investors.
Neurava says the new funding will allow it to collect human data through epilepsy monitoring studies, as well as finalize an insurance reimbursement strategy and expand its team.
“We are really pleased to receive such tremendous support from these top-tier firms and appreciate the confidence they’ve placed in our team,” said Vivek Ganesh, one of the company co-founders and a Ph.D. candidate at Purdue University’s College of Engineering. “SUDEP is a risk faced by millions of people worldwide. With this funding, we can complete a prototype that we believe can have a massive impact on epilepsy patients and their caregivers.”
In 2019, Neurava received a $20,000 pre-seed investment from Elevate Ventures through the Elevate Nexus Regional Pitch Competition.
The company has also been a finalist this year at pitch competitions in Boston and at Rice University