Minneapolis-based neuromodulation technology developer iVEAcare announced today that it raised $27.5 million in a Series A financing round.
iVEAcare spun out from NuXcel, a medical device accelerator. It seeks to develop and commercialize next-generation neuromodulation technologies to treat chronic diseases.
The company also named Todd Kerkow as its new president and CEO. A medical device industry veteran, Kerkow spent nearly three decades in the industry. His experience spans companies including Guidant, Cameron Health, Boston Scientific and Cardionomic.
Vensana Capital led the financing round, while Treo Ventures, Hatteras Venture Partners and an undisclosed strategic partner participated.
“We are very fortunate to have such an experienced medical device investor group supporting iVEAcare, and I look forward to partnering with them to develop this novel neuromodulation technology,” Kerkow said in a news release. “This Series A…