What are the top MedTech startups by total funding raised?

Top startups in the MedTech market ranked by total funding raised

Here is an updated table that ranks the top startups in the MedTech market based on the total amount of funding they have raised to date.

The table also includes the total number of funding rounds, the date and size of the latest round, the financing type (e.g. Series A, equity financing), key investors, the startup’s current status (active, IPO, acquired, or shut down), and a confidence score based on the data collected (we excluded startups with very low data confidence, to make sure everything is reliable).

If you need to dig deeper and get more detailed data, please check our report covering the MedTech market.

Is GRAIL still the most funded MedTech company in the ranking?

Yes. GRAIL remains comfortably ahead of the rest of this group with roughly $1.9 billion raised through its major private equity rounds before becoming public again.

GRAIL’s own Series D announcement said that the company had raised more than $1.9 billion through four equity rounds by 2020. That figure is unusually easy to defend because it came directly from the company rather than being reconstructed from scattered database entries.

Its corporate history is less straightforward. Illumina acquired GRAIL, but the companies were later separated, and GRAIL became an independent Nasdaq-listed company again in 2024 under the ticker GRAL. Calling GRAIL a traditional startup is increasingly awkward, although its cumulative private funding still matters for a ranking like this.

The $1.9 billion figure also puts GRAIL roughly $600 million ahead of the $1.3 billion cluster underneath it. On its own, that gap would be enough to put a company around the top 20 in this dataset.

Why are Hinge Health, Tempus AI, CMR Surgical and Neuralink all around $1.3 billion?

The four companies reached a similar funding scale through completely different paths, which is why the $1.3 billion cluster is more interesting than the raw ranking suggests.

Hinge Health turned employer-funded musculoskeletal care into one of digital health’s largest venture-backed businesses before going public. Tempus spent heavily on clinical data, diagnostics and AI infrastructure before its Nasdaq listing. Neuralink remained private much longer and raised a $650 million Series E alone, while CMR Surgical required deep hardware, regulatory and commercialization spending to build a global surgical robotics platform. Hardware-heavy platforms like these take years to prove, and we track what already works and what is still being tested in our MedTech market report.

Neuralink’s $650 million Series E is especially revealing. One round equaled roughly half of the company’s cumulative funding in our ranking. The company said the capital would help expand access to its brain interfaces, clinical trials and future devices.

CMR has a different accounting wrinkle. Its 2025 financing was announced as more than $200 million, but CMR explicitly described that amount as a combination of equity and debt. We therefore cannot responsibly treat the full headline figure as additional equity funding.

The totals look similar. The capital structures do not.

Is Oura now one of the best-funded MedTech companies?

Yes. Oura has moved from being a well-funded wearable startup to one of the largest capital stories in health technology, and it is now trying to cross into the public market.

The major change came from two consecutive financings. Oura announced a $200 million Series D in 2024 at a $5.2 billion valuation, followed by a round of more than $900 million in 2025. The second financing alone was larger than the entire cumulative funding of most companies in this ranking.

Oura has since gone further. The company filed for an IPO and formally launched an offering of 50 million shares. The SEC filing shows that only 13.5 million of those shares were being offered by Oura itself, while existing shareholders planned to sell the other 36.5 million. Secondary shares do not provide fresh capital to the company, so that split matters.

For now, Oura is better described as a heavily funded late-stage health-technology company in an active IPO process than simply another private wearable startup.

How much did WHOOP’s latest funding change its position?

WHOOP’s $575 million Series G completely changed its position in the MedTech funding hierarchy, pushing the company close to the billion-dollar cumulative-funding mark.

WHOOP announced the round at a $10.1 billion valuation, with Collaborative Fund leading and QIA, Mubadala, Abbott, Mayo Clinic and other investors participating. The single financing represents more capital than the lifetime funding of dozens of companies in the ranking.

There was also real commercial scale behind the financing. QIA said WHOOP had more than 2.5 million members and that bookings had grown 103% in 2025. The Financial Times subsequently reported an annual subscription-revenue run rate of roughly $800 million.

Investors were not just funding a future clinical story here. They were funding an already large consumer-health platform and betting it can move deeper into preventive healthcare.

Which MedTech startups have raised funding most recently?

The freshest MedTech funding activity shows unusually strong interest in brain interfaces, health wearables, clinical AI and software-enabled treatments.

Precision Neuroscience raised $250 million in a Series D, Ultrahuman added $70 million, Big Health raised another financing, Beta Bionics completed a $172.5 million public offering, and Aidoc raised $150 million earlier in the year. Recent rounds are a quick read on momentum, and we follow the market's signals every quarter in our market report about MedTech.

The checks are big. These are not mainly $10 million or $20 million experimental rounds; investors are still writing nine-figure checks where clinical adoption, regulatory progress or commercial scale is visible.

Company	Recent financing	Amount	Area	What it says about the market
Precision Neuroscience	Series D	$250M	Brain-computer interface	BCI has entered large late-stage funding
Beta Bionics	Public equity offering	$172.5M	Diabetes devices	Public MedTech can still raise major growth capital
Aidoc	Series E	$150M	Clinical AI	Hospital AI remains fundable at scale
Ultrahuman	Growth financing	$70M	Wearables	Smart-ring competition is attracting more capital
Click Therapeutics	Series D	$50M	Digital therapeutics	Strategic pharma capital remains available
Subtle Medical	Series C	$33M	Imaging AI	Imaging AI is still producing growth rounds
TytoCare	Growth financing	$25M+	Remote examination	Remote care continues to consolidate around proven platforms

What are the biggest individual funding rounds in MedTech?

Oura, Neuralink and WHOOP have produced some of the most striking recent rounds, with individual financings large enough to rival the entire histories of established MedTech companies.

Oura’s more-than-$900 million financing currently stands out in this group. Neuralink followed with $650 million, while WHOOP raised $575 million. Earlier rounds such as Noom’s $540 million Series F, Quantum-Si’s roughly $500 million-plus SPAC-related financing and Tempus AI’s $410.7 million IPO also show how often the biggest capital events now happen near the transition from private company to public-scale business.

A $100 million MedTech round still sounds enormous. In this ranking, more than a dozen companies have completed financings around or above that level.

Company	Financing	Approx. size	Main area
Oura	Late-stage financing	$900M+	Wearables
Neuralink	Series E	$650M	BCI
WHOOP	Series G	$575M	Wearables
Noom	Series F	$540M	Digital health
Tempus AI	IPO	$410.7M gross	Precision medicine / AI
insitro	Series C	$400M	AI drug discovery
GRAIL	Series D	$390M	Cancer detection
Heartflow	IPO	$364.2M gross after option exercise	Cardiac AI
Seer	IPO / private placement	~$336M	Proteomics
Precision Neuroscience	Series D	$250M	BCI

Is raising more than $1 billion in MedTech still unusual?

Very much so. Billion-dollar cumulative funding remains an extreme outcome even inside a ranking deliberately built around heavily financed companies.

Only a small group in our ranking crosses approximately $1 billion: GRAIL, Hinge Health, Tempus AI, CMR Surgical, Neuralink, Oura and Freenome, with WHOOP now sitting around that threshold depending on the exact reconstruction of earlier rounds.

The difference between the top and the middle of the table is enormous. Companies around rank 40 have raised roughly $300 million. Around rank 70, the figure is closer to $120 million. By rank 100, it falls to only a few million.

A billion-dollar funding history is roughly eight times the capital of a company sitting near rank 70. That is a different capital class.

What types of MedTech startups attract the most funding?

Diagnostics, surgical robotics, digital care, wearables and brain-computer interfaces currently dominate the upper end of MedTech fundraising.

Cancer diagnostics alone produced GRAIL and Freenome above $1 billion, Guardant Health around the half-billion level before its IPO, and several additional companies in adjacent molecular-testing categories. Surgical robotics produced CMR Surgical, PROCEPT BioRobotics, Distalmotion, ForSight Robotics, Moon Surgical and Mendaera.

Health software also matters much more than a traditional hardware-only definition of MedTech would suggest. Hinge Health, Tempus AI, Omada Health, Sword Health, Aidoc, PathAI and Viz.ai collectively represent several billion dollars of financing. Software-heavy and hardware businesses earn money differently, and we compare which models make money and keep margins in our MedTech market report.

The biggest recent shift is that wearables and BCIs are joining those older capital-heavy categories. Oura and WHOOP have raised rounds previously associated with biotech or infrastructure companies, while Neuralink, Precision Neuroscience and Synchron have turned neural interfaces into a real late-stage venture category.

MedTech area	Examples from the ranking	Funding pattern
Cancer diagnostics	GRAIL, Freenome, Guardant Health	Several very large late-stage raises
Surgical robotics	CMR Surgical, PROCEPT, Distalmotion, ForSight	Capital intensive from development through commercialization
Digital care	Hinge Health, Omada, Sword, Virta	Large rounds followed by IPOs for the strongest platforms
Clinical AI	Tempus, Aidoc, Heartflow, PathAI, Viz.ai	Increasingly supported by growth-stage capital
Wearables	Oura, WHOOP, Eight Sleep, Ultrahuman	Recent round sizes have increased sharply
Brain-computer interfaces	Neuralink, Precision Neuroscience, Synchron, Paradromics	One of the fastest-rising funding clusters
Diabetes technology	Beta Bionics, Tandem, Insulet, Dexcom, Senseonics	Long histories of both venture and public equity financing

Why have cancer-detection startups raised so much money?

Cancer diagnostics combine an enormous potential market with unusually expensive evidence generation, which helps explain why GRAIL and Freenome sit so high in the ranking.

GRAIL had already raised more than $1.9 billion before broad commercialization of Galleri. That sounds excessive until we look at what building such a product requires: population-scale clinical studies, sequencing infrastructure, regulatory work, commercial laboratory operations and years of validation before widespread reimbursement becomes realistic.

Freenome followed a similar pattern. Its $254 million financing was led by Roche and was explicitly intended to advance clinical programs and expand its cancer-detection platform. Roche later deepened the relationship through a broader collaboration that included a $75 million equity instrument.

In cancer screening, a large part of the funding pays for proving the product, not merely building it.

Is surgical robotics still one of the biggest MedTech funding categories?

Yes. Surgical robotics remains one of the most capital-hungry parts of MedTech because companies have to finance hardware engineering, clinical evidence, regulatory work, manufacturing and hospital commercialization at the same time.

CMR Surgical is the largest example in the dataset at around $1.3 billion. Its Versius system had been used in more than 30,000 procedures when the company announced its 2025 financing, showing that the fundraising was supporting an already commercial platform rather than an early prototype.

Further down the ranking, PROCEPT BioRobotics, Distalmotion, ForSight Robotics, Moon Surgical and Mendaera show that the category is broader than one company. ForSight alone raised $125 million in its Series B to advance robotic ophthalmic surgery.

Investors keep accepting those capital requirements because the prize is a platform embedded directly in hospital workflows.

Are brain-computer interfaces becoming one of the best-funded parts of MedTech?

Yes. Brain-computer interfaces have moved from speculative research projects into a serious late-stage funding category.

Neuralink raised $650 million in its Series E. Synchron raised $200 million in its Series D. Precision Neuroscience has now raised $250 million in a Series D that brought total capital raised to $430 million according to the company. Big rounds are only the start, and what has to happen for MedTech categories like this to accelerate is covered in our report on MedTech.

Precision is particularly important because the new figure corrects our earlier number. We had approximately $405 million, but the company’s latest announcement says cumulative capital raised reached $430 million after the new round.

Taken together, Neuralink, Precision, Synchron and Paradromics represent well over $2 billion in cumulative capital using the funding histories in this ranking. BCI is no longer a niche experiment in financing terms.

Is healthcare AI still attracting large funding rounds?

Yes. Healthcare AI remains highly fundable, but investors increasingly favor companies that already sit inside clinical workflows.

Aidoc is a strong example. Its $150 million Series E brought reported total funding above $500 million, and the company has been expanding its hospital AI platform rather than selling a single isolated algorithm.

The same pattern appears elsewhere. Qure.ai raised $65 million to expand internationally and invest in foundational AI models. Subtle Medical raised $33 million after building a commercial imaging platform across MRI, PET and CT. Proscia raised $50 million while reporting that its pathology platform was already used by 16 of the 20 largest pharmaceutical companies.

A clever medical AI model by itself is a much weaker fundraising story now. Adoption, regulation and workflow integration carry more weight.

Are wearables really MedTech now?

At the funding level, wearables are increasingly behaving like MedTech companies even when regulators still classify many of their products as consumer devices.

Oura raised more than $900 million in one financing. WHOOP raised $575 million at a $10.1 billion valuation. Ultrahuman then added another $70 million while describing its strategy as a broader health-intelligence platform.

The products are also moving closer to clinical use through ECG features, blood-pressure research, biomarker integrations, metabolic-health partnerships and healthcare programs.

There is still a boundary. Oura’s SEC materials explicitly say that Oura Ring is not a medical device and is not intended to diagnose or treat medical conditions.

For a broad MedTech funding analysis, these companies belong in the conversation because capital is being invested in continuous health measurement and prevention. Under a strict regulatory definition of medical devices, some would sit in health technology instead.

Who are the biggest investors in heavily funded MedTech startups?

No single venture firm controls MedTech funding, but a relatively small group of crossover investors, healthcare specialists and strategic investors keeps reappearing around the largest companies.

Sequoia Capital appears around Neuralink, Guardant Health and Virta Health. Insight Partners appears around Cleerly, Viz.ai, TytoCare and Proscia. RA Capital has backed companies including Freenome, Exo, Natera and Empatica. OrbiMed appears around Binx Health, TytoCare, Natera and Biobeat. Repeat names among the backers say a lot about what investors favour; where the money goes, and what they avoid, is in our MedTech market report.

Sovereign investors are also becoming much more visible. Qatar Investment Authority participated in Neuralink, WHOOP and Synchron, while Mubadala backed WHOOP and Precision Neuroscience.

These are investors that can hold through long regulatory and commercialization cycles. That matters more in MedTech than the simple number of names on a cap table.

Investor	Examples in this ranking	Typical exposure
Sequoia Capital	Neuralink, Guardant Health, Virta Health	Large technology-enabled healthcare bets
Insight Partners	Cleerly, Viz.ai, TytoCare, Proscia	Software and clinical platforms
RA Capital	Freenome, Exo, Natera, Empatica	Life sciences and diagnostics
OrbiMed	Binx Health, TytoCare, Natera, Biobeat	Specialist healthcare investing
QIA	Neuralink, WHOOP, Synchron	Large late-stage rounds
Mubadala	WHOOP, Precision Neuroscience	Growth-stage health technology
Fidelity	Oura, Butterfly Network	Late-stage and crossover financing
General Catalyst	Aidoc, Sword Health	Digital health and clinical technology

Are strategic healthcare companies becoming more important investors?

Yes. Corporate investors increasingly appear beside traditional venture firms when a MedTech startup has technology that could fit directly into a larger healthcare ecosystem.

Dexcom invested in Oura. Roche led Freenome’s $254 million financing and later expanded the commercial relationship. Boehringer Ingelheim made a $50 million Series D investment in Click Therapeutics while transferring commercialization responsibility for CT-155 to the startup.

Abbott and Mayo Clinic participated in WHOOP’s $575 million round. Johnson & Johnson Innovation and JJDC invested strategically in Distalmotion according to the funding history we compiled.

A strategic investor can bring distribution, regulatory knowledge, product integration, manufacturing experience or a possible future acquisition path. For a later-stage MedTech company, that can easily matter as much as the check.

Are IPOs now a major part of MedTech funding totals?

Yes. IPOs and follow-on offerings can dramatically reshape cumulative funding rankings once a MedTech company reaches the public market.

Tempus AI raised $410.7 million gross in its IPO. Heartflow ultimately raised about $364.2 million after the underwriters fully exercised their option. Omada Health raised about $172.6 million gross. Beta Bionics recently added another $172.5 million through a post-IPO public offering.

That creates a conceptual problem: a ranking of startup fundraising and a ranking of lifetime equity capital increasingly diverge once companies go public.

Public offerings still belong in the financing story, but they should not be mistaken for another venture round.

Should IPO proceeds count as startup funding?

They should be shown separately rather than silently mixed with venture rounds.

An IPO is still equity capital raised by the company, so excluding it entirely can make the lifetime financing history incomplete. At the same time, calling a company’s IPO its latest “startup funding round” is misleading. Counting rules like this change the totals, so we build our own market size with every assumption visible in our market report about MedTech.

Heartflow makes the problem obvious. Our data lists approximately $794 million in cumulative funding and a 2023 Series F as the latest round. Yet Heartflow subsequently completed an IPO that generated roughly $364 million in gross proceeds.

The cleanest approach is to distinguish private equity raised before listing from IPO and post-IPO equity. That keeps startup funding comparable without throwing away the later capital story.

Does more MedTech funding mean a company is more successful?

No. Funding tells us how much capital investors were willing to supply, not whether the business ultimately worked.

Babylon Health is the clearest warning in the table. It raised hundreds of millions of dollars and reached the public market, yet the company ultimately collapsed.

Cue Health followed another version of the same story. It raised substantial private capital and completed an IPO during the diagnostic-testing boom but later shut down.

Meanwhile, companies such as Dexcom, Insulet and iRhythm appear much lower in a historical fundraising ranking despite building significant public MedTech businesses.

The table is much better at measuring capital intensity and investor conviction than eventual company quality.

Which heavily funded MedTech startups have already gone public?

A surprisingly large share of the upper ranking has already crossed into public markets.

GRAIL is publicly traded again after its separation from Illumina. Hinge Health listed on the NYSE. Tempus AI, Heartflow, Omada Health, Beta Bionics, PROCEPT BioRobotics, Quantum-Si, Guardant Health and several other companies in the table are also public.

Hinge Health priced its IPO at $32 a share. Tempus priced at $37. Omada priced at $19. Heartflow also priced at $19 before the underwriters exercised their full option.

So the top of this ranking is not really a list of very young startups anymore. Many of these companies used venture capital to get to the point where public investors could fund the next stage.

Which major private MedTech companies could be next to go public?

Oura is the clearest answer because the company has already started the IPO process.

Oura filed its S-1 and later launched an offering of 50 million shares, seeking a Nasdaq listing under OURA. The filing also showed how far the company had grown: management expected roughly 5.7 million paid members by the end of its fiscal year, representing 96% year-over-year growth.

Other heavily funded private companies such as Neuralink, CMR Surgical, Freenome, WHOOP and Aidoc have enough funding and operational scale to be obvious long-term IPO candidates, although that does not mean a listing is imminent. Which heavily funded private players could list next is easier to judge alongside the market maps and grids in our report covering the MedTech market.

WHOOP may be the most interesting after Oura. Its latest funding valued the company at $10.1 billion and gave it enough capital to remain private for quite some time. The Financial Times reported that management was considering an IPO within roughly two years.

Which smaller MedTech companies are moving up the funding ranking fastest?

Precision Neuroscience currently stands out because one financing increased its cumulative capital by well over 100%.

The company went from roughly $180 million raised before its latest financing to $430 million after closing a $250 million Series D. That is the type of round that can move a company dozens of positions in a funding ranking.

Ultrahuman is another fast mover. Its new $70 million financing is huge relative to its previous funding base and pushes the company further into the wearable-health competition with Oura and WHOOP.

Subtle Medical is smaller, but its $33 million round lifted total funding to $86 million. Aidoc’s $150 million financing pushed cumulative funding beyond $500 million.

The lower half of a cumulative ranking can move fast. One $50 million to $250 million round can reshuffle it completely.

Does the MedTech funding ranking favor capital-intensive technologies?

Absolutely. Surgical robots, diagnostic platforms, sequencing systems and implanted devices naturally rise toward the top because they cost more to develop and commercialize.

A software company can often test a product with relatively little capital. A robotic surgery company may need custom hardware, manufacturing, clinical trials, regulatory submissions, surgeon training and a field-service organization before reaching meaningful scale.

BCI companies face an even harder version of this problem because they combine implants, neurosurgery, electronics, software, clinical trials and regulatory work.

Total funding is therefore a bad popularity score. A company that needs $500 million to reach commercialization has not automatically created five times as much value as one that got there with $100 million.

Does this ranking include digital health as well as traditional medical devices?

Yes, and that broader definition changes the leaders considerably.

Hinge Health, Noom, Omada Health, Sword Health, Virta Health and Sidekick Health would normally be described as digital-health companies rather than traditional medical-device manufacturers. Tempus, Aidoc, PathAI, Viz.ai and Qure.ai sit between software, diagnostics and regulated medical technology. Where digital health stops and medical devices begin is a line we spell out by defining what counts in our report on MedTech.

That broader view is useful because healthcare technology is no longer neatly divided into hardware and software. A cardiac diagnosis may now come from imaging hardware plus an AI analysis layer. A diabetes product may combine a sensor, pump, algorithm and app.

A few names still sit close to the boundary. Pure drug-discovery platforms such as insitro are closer to biotech than conventional MedTech. Owkin also spans drug discovery and diagnostics.

The ranking is best read as a broad technology-enabled MedTech and clinical-healthcare universe rather than a list restricted to FDA-classified devices.

How concentrated is MedTech funding at the top?

Very concentrated. The top ten companies in our ranking have raised roughly $12.1 billion, while companies ranked 11 through 20 account for about $6.8 billion.

That gap appears even though positions 11 through 20 include substantial businesses such as PROCEPT BioRobotics, Heartflow, Beta Bionics, insitro, Quantum-Si, Noom, Omada Health and Guardant Health.

Another way to see it: GRAIL’s approximately $1.9 billion is roughly equivalent to the combined funding of more than a dozen companies around the $100 million to $150 million level.

The market has a long tail, but most of the money is concentrated in a relatively small group that survived repeated large rounds.

Are investors still willing to fund MedTech before profitability?

Yes. MedTech investors continue to finance companies well before mature profitability when clinical evidence, adoption or strategic value is strong enough.

BCI companies provide the most obvious examples because none of the major players has a mature mass-market business yet, but Neuralink, Synchron and Precision Neuroscience have nevertheless attracted hundreds of millions of dollars.

Clinical AI shows the same behavior at a later stage. Aidoc raised another $150 million after establishing a large hospital footprint. Qure.ai raised $65 million while expanding its global deployment.

The bar has changed, though. Large rounds increasingly come with something concrete attached: FDA clearance, clinical trials, hospital deployment, membership growth, commercial revenue or a credible path into a very large healthcare market.

Are the biggest MedTech rounds getting bigger?

At the top end, yes. The recent Oura, Neuralink and WHOOP rounds show that the ceiling for late-stage MedTech financing has moved much higher.

A $200 million round is still enormous for most MedTech startups. Yet Oura raised more than four times that amount in one transaction. Neuralink raised more than three times it. WHOOP raised almost three times it. Huge rounds going to a handful of category leaders are among the concentration risks we rate by likelihood in our MedTech market report.

Precision Neuroscience then raised $250 million despite being far earlier commercially than Oura or WHOOP.

Most MedTech companies are not suddenly receiving bigger checks. A handful of perceived category winners can now access financing at a scale once associated mainly with biotech, FinTech or late-stage enterprise software.

So who are the most funded MedTech startups today?

GRAIL remains the clear cumulative-funding leader at roughly $1.9 billion, but the more interesting story is the group of billion-dollar MedTech companies underneath it.

Hinge Health, Tempus AI, CMR Surgical and Neuralink sit around the $1.3 billion level in our reconstruction. Oura has joined that upper tier after an extraordinary late-stage financing cycle, while Freenome remains above $1 billion and WHOOP is now around the billion-dollar mark after its $575 million Series G.

The ranking also shows where investors are placing their biggest bets. Cancer diagnostics and surgical robotics still absorb huge amounts of capital, but wearables, clinical AI and brain-computer interfaces are now competing with them for nine-figure rounds.

There is no single winning MedTech technology here. The common thread is simpler: category leaders with very large healthcare markets, deep clinical differentiation or obvious commercial scale can still raise huge amounts of capital, and crossing $1 billion remains rare.