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January 18, 2024

Sleep Health: Onera Health Secures €30 Million in Series C Funding

Dreams just turned into reality for Onera Health, the startup that's not just interpreting your sleep

In a significant stride toward improving sleep diagnostics and monitoring, Onera Health, a pioneering startup, has successfully raised €30 million ($32 million) in a Series C funding round. This injection of funds propels Onera into the forefront of sleep technology, offering a unique clinical-grade solution aimed at transforming the landscape of sleep studies for clinicians.

The economic impact of poor sleep on the U.S. economy alone is a staggering $400 billion, attributed to factors such as absenteeism and sleep-related presenteeism. In response to this widespread issue, Onera Health positions itself as a game-changer, distinguishing its solution from the myriad sleep-tracking aids already saturating the market. With a focus on clinical-grade accuracy, Onera has earned regulatory clearance, including the coveted approval from the Food and Drug Administration (FDA) in the U.S.

Onera's innovation lies in its end-to-end "polysomnography-as-a-service," empowering healthcare professionals to seamlessly conduct comprehensive sleep studies directly in patients' homes or in a lab setting, if necessary. Here's how it works: Clinicians order a polysomnography (PSG) study through Onera, and the company dispatches the required sensors directly to the patient. The patient, following simple instructions, connects four wireless devices to the forehead, upper chest, abdominal area, and lower leg.

Once the study is complete, the patient returns the hardware to Onera. The collected data is then processed in Onera's secure cloud environment, culminating in a detailed report for clinicians to assess, providing valuable insights into sleep patterns and potential disorders.

Founded in the Netherlands in 2017, Onera has now amassed €55 million in funding, with its latest Series C round co-led by EQT Life Sciences and Gimv, and contributions from Innovation Industries, Invest-NL, Imec.xpand, BOM, and 15th Rock. With an additional €30 million in hand, Onera is poised to expedite regulatory clearance for a second-generation PSG system in both the U.S. and Europe. Currently serving the Benelux and DACH regions, the company expresses its commitment to aggressive investment in research and development, customer success, and geographic expansion.

In a statement, Onera's Founder and CEO, Ruben de Francisco, affirmed the company's dedication, stating, "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." This bold commitment solidifies Onera Health's position as a transformative force in the realm of sleep health, promising innovative solutions and brighter mornings for millions around the globe.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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