California-based Cala Health, maker of wearable neuromodulation therapy, has completed the initial closing of an oversubscribed $50 million growth round. The round was co-led by Vertex Growth Fund and Nexus NeuroTech Ventures, with participation from existing investors, including Johnson & Johnson Innovation, Lux Capital, GV (Google Ventures), Action Potential, Lightstone, TriVentures, Fiscus, Reimagined Ventures, Ascension Ventures, Peak6, and OSF Ventures.
Cala Health is a bioelectronic medicine company focused on chronic diseases, particularly essential tremor, a neurological disorder causing involuntary shaking. Its Cala kIQ System is an FDA-cleared wearable device designed to reduce hand tremors through transcutaneous afferent patterned stimulation (TAPS). The wrist wearable offers on-demand therapy and provides data insights to track progress over time.
Cala CEO Deanna Harshbarger highlighted that the funding will drive commercialization efforts, especially following a recent positive Medicare Coverage Determination for Cala TAPS therapy. This will help raise awareness among patients and physicians about this innovative treatment.
In 2021, Cala Health secured $77 million in funding, led by Ascension Ventures, with additional contributions from Dolby Family Ventures, PEAK6 Strategic Capital, and Innovatus Capital Partners. Prior to that, the company raised $55 million in a Series B round. Meanwhile, UK-based GyroGear, another company working on tremor-related wearables, secured $4.3 million in seed funding in 2021 for its GyroGlove.
Click here to read the original news story.