Onera lands €30m to advance remote sleep diagnostic tech

Company brings clinical-grade sleep diagnostics into the patient’s home via wireless patch-based system.

Dutch MedTech company Onera Health has closed a Series C funding round, raising more than €30 million to advance its remote sleep diagnostic and monitoring technology. With operations in the Netherlands and the US, the company is developing diagnostic solutions to remotely monitor chronic conditions and aid people struggling with sleep-related issues.

The duration and quality of our sleep is closely associated with healthy longevity, and Onera aims to allow clinicians to conduct sleep studies at any time and from any location. The company says it brings clinical-grade monitoring into the patient’s home, offering “quick, convenient, and clinically accurate” remote diagnostics.

A clinical sleep study typically uses a test called polysomnography (PSG), which records a wide range of data, including brain waves, blood oxygen levels, heart rate, breathing, as well as eye and leg movements during sleep. Onera claims its wireless “patch-based” sensor system captures all the signals required for PSG, measuring and recording multiple physiological parameters related to cardiovascular, respiratory and brain functions.

The latest financing round, co-led by EQT Life Sciences and Gimv Life Sciences, brings the total investment in the Onera to date to more than €55 million. The funding will enable Onera to accelerate manufacturing and deployment plans. Additionally, the company plans to expedite the clearance of the second generation of its PSG system in Europe and the United States.

“This capital infusion will accelerate our ability to scale in the US and Europe,” said Ruben de Francisco, CEO of Onera. “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.”

As part of the funding transaction, EQT’s Drew Burdon and Gimv’s Michaël Vlemmix will join Onera’s Board of Directors. The company plans to showcase its product at the ‘Sleep Medicine Trends 2024’ event hosted by the American Academy of Sleep Medicine next month.