What are the most valued startups in the MedTech market?

Last updated: 13 July 2026

In our updated market reports, you will find everything you need

The MedTech market includes medical devices, surgical robotics, diagnostics, clinical AI, wearables and implantable technologies.

This ranking compares 100 MedTech startups and listed innovators using their latest reported or estimated valuations.

We update this MedTech startup list every month as funding rounds, acquisitions and public market values change.

A quick summary table

Metric	Value
Most valuable MedTech startup	Oura, $10.0B–$12.0B
Second most valuable MedTech startup	Neuralink, $9.0B–$10.5B
Median MedTech startup valuation	Approximately $630M
Share of MedTech valuation captured by the top 10	Approximately 40%
Top MedTech valuation vs. median	Approximately 17 times
Median MedTech valuation-to-capital-raised ratio	Approximately 2.3 times
MedTech startups valued at $1B+	28

Top startups in the MedTech market ranked by valuation

Here is an updated table that ranks the top startups in the MedTech market based on their latest reported or estimated valuations.

#	Startup Name	What They Do	Current Valuation ($)	Valuation Confidence Level	Valuation Type	Evidence Status	Total Funding ($)	Funding Confidence Level
1	Oura	Smart ring health tracking	$10.0B–$12.0B	Strong Confidence	Announced Private Round Valuation	Observed	$1.3B	Strong Confidence
2	Neuralink	Implantable brain-computer interfaces	$9.0B–$10.5B	Strong Confidence	Announced Private Round Valuation	Estimated	$1.3B	Strong Confidence
3	CMR Surgical	Surgical robotics platform	$3.0B–$4.0B	Partial Confidence	Comparables-Based Estimate	Estimated	$1.1B	Strong Confidence
4	GRAIL	Multi-cancer blood testing	$3.0B	Full Confidence	Public Market Cap	Observed	$1.7B	Full Confidence
5	BVI Medical	Ophthalmic surgical devices	$2.0B–$3.0B	Low Confidence	Proxy-Based Estimate	Estimated	$1.0B	Low Confidence
6	HeartFlow	AI coronary diagnostics	$2.4B	Full Confidence	Public Market Cap	Observed	$855M	Partial Confidence
7	HistoSonics	Noninvasive tumor histotripsy platform	$2.3B	Full Confidence	Acquisition Value	Observed	$553M	Strong Confidence
8	Kardium	Atrial fibrillation ablation system	$1.7B–$2.5B	Strong Confidence	Implied Valuation from Raise	Implied	$471M	Strong Confidence
9	Neko Health	Preventive full-body health scans	$1.8B–$2.2B	Strong Confidence	Announced Private Round Valuation	Estimated	$325M	Full Confidence
10	Butterfly Network	Handheld ultrasound imaging	$1.9B	Full Confidence	Public Market Cap	Observed	$1.0B	Strong Confidence
11	Noah Medical	Robotic bronchoscopy platform	$1.4B–$2.1B	Partial Confidence	Comparables-Based Estimate	Estimated	$150M	Full Confidence
12	Cornerstone Robotics	Surgical robotics systems	$1.4B–$2.0B	Strong Confidence	Implied Valuation from Raise	Implied	$459M	Partial Confidence
13	Imperative Care	Stroke thrombectomy devices	$1.4B–$1.8B	Partial Confidence	Comparables-Based Estimate	Estimated	$345M	Partial Confidence
14	Kestra Medical Technologies	Wearable cardiac defibrillator platform	$1.6B	Full Confidence	Public Market Cap	Observed	$398M	Strong Confidence
15	OrganOx	Organ preservation perfusion systems	$1.5B	Full Confidence	Acquisition Value	Observed	$187M	Partial Confidence
16	Science Corp	Brain and retinal interfaces	$1.5B	Strong Confidence	Announced Private Round Valuation	Observed	$303M	Partial Confidence
17	4C Medical Technologies	Transcatheter heart valve therapies	$1.2B–$1.8B	Partial Confidence	Implied Valuation from Raise	Implied	$255M	Strong Confidence
18	Aidoc	Clinical AI imaging platform	$1.0B–$1.9B	Strong Confidence	Implied Valuation from Raise	Implied	$370M	Partial Confidence
19	Distalmotion	Dexter surgical robot	$1.1B–$1.7B	Strong Confidence	Implied Valuation from Raise	Implied	$390M	Partial Confidence
20	Impulse Dynamics	Heart failure implant therapy	$1.1B–$1.6B	Partial Confidence	Implied Valuation from Raise	Implied	$535M	Partial Confidence
21	Apreo Health	Emphysema airway scaffold	$900M–$1.6B	Strong Confidence	Implied Valuation from Raise	Implied	$153M	Partial Confidence
22	Freenome	Early cancer blood tests	$1.0B–$1.5B	Partial Confidence	Comparables-Based Estimate	Estimated	$1.3B	Full Confidence
23	PROCEPT BioRobotics	Robotic BPH surgery system	$1.2B	Full Confidence	Public Market Cap	Observed	$513M	Partial Confidence
24	Biofourmis	Virtual care digital medicine	$900M–$1.3B	Partial Confidence	Announced Private Round Valuation	Estimated	$465M	Strong Confidence
25	Viz.ai	AI clinical care coordination	$900M–$1.3B	Partial Confidence	Comparables-Based Estimate	Estimated	$250M	Full Confidence
26	Cleerly	AI coronary imaging	$850M–$1.2B	Partial Confidence	Implied Valuation from Raise	Implied	$383M	Partial Confidence
27	SonoThera	Ultrasound-delivered genetic medicines	$850M–$1.2B	Partial Confidence	Implied Valuation from Raise	Implied	$186M	Strong Confidence
28	CeQur	Wearable insulin delivery patch	$670M–$1.3B	Strong Confidence	Implied Valuation from Raise	Implied	$492M	Strong Confidence
29	Capstan Medical	Structural heart implants	$750M–$1.2B	Partial Confidence	Implied Valuation from Raise	Implied	$141M	Full Confidence
30	JenaValve	Transcatheter aortic valve replacement	$850M–$1.1B	Partial Confidence	Comparables-Based Estimate	Estimated	$364M	Partial Confidence
31	SetPoint Medical	Bioelectronic autoimmune disease therapy	$850M–$1.1B	Partial Confidence	Implied Valuation from Raise	Implied	$250M	Partial Confidence
32	Supira Medical	Percutaneous ventricular assist devices	$800M–$1.1B	Partial Confidence	Implied Valuation from Raise	Implied	$240M	Full Confidence
33	Synchron	Endovascular brain-computer interfaces	$900M–$1.0B	Strong Confidence	Announced Private Round Valuation	Observed	$345M	Strong Confidence
34	PathAI	AI pathology diagnostics platform	$750M–$1.1B	Strong Confidence	Acquisition Value	Observed	$255M	Strong Confidence
35	Biolinq	Wearable metabolic biosensors	$700M–$1.1B	Partial Confidence	Implied Valuation from Raise	Implied	$280M	Strong Confidence
36	Medical Microinstruments	Robotic microsurgery platform	$700M–$1.0B	Partial Confidence	Implied Valuation from Raise	Implied	$220M	Partial Confidence
37	CereVasc	Minimally invasive hydrocephalus device	$570M–$1.1B	Strong Confidence	Implied Valuation from Raise	Implied	$199M	Full Confidence
38	Exo	Handheld ultrasound platform	$670M–$1.0B	Low Confidence	Active Raise Valuation	Implied	$410M	Partial Confidence
39	FIRE1	Heart failure monitoring	$800M–$1.2B	Partial Confidence	Implied Valuation from Raise	Implied	$201M	Partial Confidence
40	Galvanize Therapeutics	Pulsed electric field therapies	$670M–$1.0B	Partial Confidence	Implied Valuation from Raise	Implied	$200M	Strong Confidence
41	Pulnovo Medical	Pulmonary hypertension device therapy	$670M–$1.0B	Partial Confidence	Implied Valuation from Raise	Implied	$215M	Strong Confidence
42	Magenta Medical	Miniature temporary heart pump	$650M–$950M	Partial Confidence	Implied Valuation from Raise	Implied	$183M	Partial Confidence
43	ForSight Robotics	Robotic eye surgery	$650M–$900M	Partial Confidence	Implied Valuation from Raise	Implied	$190M	Full Confidence
44	RefleXion Medical	Biology-guided cancer radiotherapy	$650M–$900M	Partial Confidence	Comparables-Based Estimate	Estimated	$449M	Strong Confidence
45	Beta Bionics	Automated bionic pancreas	$719M	Full Confidence	Public Market Cap	Observed	$570M	Strong Confidence
46	Caresyntax	Surgical intelligence software	$550M–$850M	Partial Confidence	Implied Valuation from Raise	Implied	$288M	Partial Confidence
47	Karius	Genomic infectious disease diagnostics	$550M–$800M	Partial Confidence	Comparables-Based Estimate	Estimated	$315M	Strong Confidence
48	RapidAI	AI imaging and stroke workflows	$550M–$800M	Partial Confidence	Comparables-Based Estimate	Estimated	$100M	Full Confidence
49	SPR Therapeutics	Temporary peripheral nerve stimulation	$650M	Strong Confidence	Acquisition Value	Observed	$87M	Partial Confidence
50	Endotronix	Heart failure monitoring	$600M–$675M	Strong Confidence	Acquisition Value	Observed	$102M	Partial Confidence
51	Amber Therapeutics	Neuromodulation for incontinence	$500M–$750M	Partial Confidence	Implied Valuation from Raise	Implied	$100M	Strong Confidence
52	MicroTransponder	Stroke recovery neurostimulation therapy	$500M–$750M	Strong Confidence	Implied Valuation from Raise	Implied	$180M	Partial Confidence
53	Ronovo Surgical	Modular surgical robotics platform	$500M–$700M	Partial Confidence	Implied Valuation from Raise	Implied	$186M	Partial Confidence
54	Precision Neuroscience	Minimally invasive brain implants	$500M–$650M	Strong Confidence	Announced Private Round Valuation	Estimated	$155M	Full Confidence
55	Augmedics	AR spine surgery navigation	$450M–$750M	Low Confidence	Comparables-Based Estimate	Estimated	$142M	Full Confidence
56	LightForce Orthodontics	Custom 3D-printed braces	$450M–$700M	Partial Confidence	Implied Valuation from Raise	Implied	$144M	Strong Confidence
57	NeuroPace	Responsive epilepsy neurostimulation	$562M	Full Confidence	Public Market Cap	Observed	$366M	Partial Confidence
58	BioIntelliSense	Medical-grade wearable monitoring	$390M–$725M	Partial Confidence	Implied Valuation from Raise	Implied	$140M	Strong Confidence
59	Nalu Medical	Chronic pain neurostimulation implants	$533M	Full Confidence	Acquisition Value	Observed	$289M	Strong Confidence
60	Think Surgical	Orthopedic surgical robotics systems	$400M–$650M	Low Confidence	Comparables-Based Estimate	Estimated	$105M	Partial Confidence
61	Cardiac Dimensions	Mitral repair implant	$400M–$600M	Partial Confidence	Implied Valuation from Raise	Implied	$165M	Partial Confidence
62	Moon Surgical	Collaborative laparoscopic surgical robotics	$400M–$600M	Partial Confidence	Comparables-Based Estimate	Estimated	$87M	Strong Confidence
63	VitalConnect	Wearable clinical biosensor monitoring	$400M–$550M	Partial Confidence	Comparables-Based Estimate	Estimated	$240M	Partial Confidence
64	Element Science	Wearable defibrillator platform	$350M–$550M	Partial Confidence	Comparables-Based Estimate	Estimated	$193M	Partial Confidence
65	TytoCare	Remote AI-enabled medical examinations	$350M–$500M	Partial Confidence	Comparables-Based Estimate	Estimated	$205M	Strong Confidence
66	CoMind	Non-invasive brain monitoring	$300M–$500M	Strong Confidence	Implied Valuation from Raise	Implied	$103M	Partial Confidence
67	Blackrock Neurotech	Brain-computer interfaces	$300M–$450M	Partial Confidence	Announced Private Round Valuation	Estimated	$210M	Full Confidence
68	Insightec	Focused ultrasound treatments	$300M–$450M	Partial Confidence	Announced Private Round Valuation	Observed	$574M	Partial Confidence
69	Ultromics	AI echocardiography heart diagnostics	$275M–$460M	Strong Confidence	Implied Valuation from Raise	Implied	$102M	Strong Confidence
70	Quibim	AI medical imaging biomarkers	$280M–$450M	Partial Confidence	Implied Valuation from Raise	Implied	$60M	Partial Confidence
71	AliveCor	Personal ECG monitoring	$250M–$450M	Low Confidence	Comparables-Based Estimate	Estimated	$149M	Partial Confidence
72	Scopio Labs	AI-powered digital blood microscopy	$280M–$420M	Partial Confidence	Implied Valuation from Raise	Implied	$73M	Partial Confidence
73	Eko Health	AI digital stethoscopes	$270M–$420M	Partial Confidence	Implied Valuation from Raise	Implied	$131M	Partial Confidence
74	WISE	Implantable flexible neurotechnology electrodes	$230M–$435M	Strong Confidence	Implied Valuation from Raise	Implied	$62M	Strong Confidence
75	Carlsmed	Personalized spine surgery	$328M	Full Confidence	Public Market Cap	Observed	$196M	Strong Confidence
76	Healthy.io	Smartphone kidney testing	$250M–$400M	Low Confidence	Comparables-Based Estimate	Estimated	$140M	Strong Confidence
77	Perspectum	AI medical imaging diagnostics	$260M–$390M	Partial Confidence	Revenue or ARR Multiple Estimate	Estimated	$140M	Partial Confidence
78	Theranica	Wearable migraine neuromodulation therapy	$250M–$400M	Low Confidence	Comparables-Based Estimate	Estimated	$86M	Strong Confidence
79	Paradromics	Brain-computer interface implants	$250M–$350M	Partial Confidence	Comparables-Based Estimate	Estimated	$89M	Partial Confidence
80	FineHeart	Implantable heart pump	$230M–$350M	Partial Confidence	Implied Valuation from Raise	Implied	$73M	Strong Confidence
81	restor3d	Personalized 3D-printed orthopedic implants	$250M–$320M	Strong Confidence	Announced Private Round Valuation	Implied	$197M	Partial Confidence
82	Qure.ai	AI medical imaging diagnostics	$220M–$280M	Strong Confidence	Announced Private Round Valuation	Estimated	$121M	Strong Confidence
83	Orchestra BioMed	Cardiovascular therapy device developer	$244M	Full Confidence	Public Market Cap	Observed	$220M	Partial Confidence
84	CardioFocus	Cardiac ablation systems	$180M–$300M	Low Confidence	Comparables-Based Estimate	Estimated	$138M	Low Confidence
85	Momentis Surgical	Miniaturized robotic surgery platform	$180M–$300M	Low Confidence	Comparables-Based Estimate	Estimated	$117M	Partial Confidence
86	Neuspera Medical	Miniaturized neurostimulation implants	$150M–$240M	Low Confidence	Implied Valuation from Raise	Implied	$125M	Strong Confidence
87	C2N Diagnostics	Alzheimer’s blood-based diagnostic tests	$120M–$220M	Low Confidence	Comparables-Based Estimate	Estimated	$35M	Low Confidence
88	Notal Vision	Remote retinal disease monitoring	$110M–$180M	Low Confidence	Revenue or ARR Multiple Estimate	Estimated	$89M	Partial Confidence
89	CroíValve	Transcatheter tricuspid valve repair	$110M–$170M	Strong Confidence	Implied Valuation from Raise	Implied	$45M	Strong Confidence
90	Hyperfine	Portable MRI imaging	$126M	Full Confidence	Public Market Cap	Observed	$216M	Partial Confidence
91	CardioMech	Transcatheter mitral valve repair	$70M–$110M	Low Confidence	Implied Valuation from Raise	Implied	$42M	Partial Confidence
92	Saluda Medical	Closed-loop spinal cord stimulation	$88M	Full Confidence	Public Market Cap	Observed	$610M	Partial Confidence
93	Paige	AI digital pathology software	$81M	Full Confidence	Acquisition Value	Observed	$241M	Strong Confidence
94	LensGen	Fluid-adjustable intraocular lens	$55M–$100M	Low Confidence	Proxy-Based Estimate	Estimated	$41M	Strong Confidence
95	Materna Medical	Women’s pelvic health devices	$45M–$80M	Partial Confidence	Implied Valuation from Raise	Implied	$57M	Partial Confidence
96	Proximie	Connected surgical collaboration platform	$40M–$70M	Low Confidence	Revenue or ARR Multiple Estimate	Estimated	$119M	Full Confidence
97	Mainstay Medical	Low-back pain neurostimulation	$31M	Strong Confidence	Public Market Cap	Observed	$284M	Partial Confidence
98	Sight Diagnostics	Automated AI blood testing	$10M–$40M	Low Confidence	Proxy-Based Estimate	Estimated	$124M	Strong Confidence
99	Adagio Medical	Cardiac cryoablation devices	$12M	Full Confidence	Public Market Cap	Observed	$72M	Partial Confidence
100	Vicarious Surgical	Single-port surgical robotics	$1M	Full Confidence	Public Market Cap	Observed	$188M	Partial Confidence

Key valuation trends in the MedTech market

Insights

Oura and Neuralink have a combined valuation midpoint of about $20.8B, which shows how consumer health wearables and brain-computer interfaces have become major MedTech value pools.
The top 10 MedTech companies represent about 40% of the dataset’s total valuation, but the group covers wearables, neurotechnology, diagnostics, robotics, ultrasound and tumor treatment.
Oura’s valuation midpoint is about 8.5 times its cumulative funding, while Neuralink’s midpoint is roughly 7.5 times funding, making both companies unusually capital-efficient MedTech leaders.
Neko Health has reached an estimated $2.0B valuation after raising $325M, giving the preventive health scanning company a valuation-to-funding ratio of more than six times.
HistoSonics produced a $2.3B transaction value from $553M in funding, which equals about 4.1 times invested capital for its noninvasive tumor treatment platform.
Kardium’s approximately $2.1B valuation midpoint equals about 4.5 times cumulative funding, showing the premium investors place on advanced cardiac ablation technologies.
MedTech public listings show sharply different outcomes. Kestra trades at roughly four times cumulative funding, while several smaller listed companies remain worth far less than the capital raised.
Paige’s $81M acquisition value was only about one-third of its $241M funding, illustrating how strategic demand for AI pathology does not always protect earlier investors from losses.
Neuralink, Synchron, Precision Neuroscience, Blackrock Neurotech and WISE have collectively raised about $2.1B, confirming brain-computer interfaces as one of MedTech’s best-funded emerging categories.
Ultromics has an estimated valuation midpoint near $368M, about 3.6 times its funding, which makes the AI echocardiography company one of the more capital-efficient clinical diagnostics businesses.

A few word about our methodology

As you can see, we built a database that ranks startups in the MedTech market based on their current valuation.

Estimating MedTech startup valuations is not always straightforward. Many companies do not publicly disclose their valuation, and the available information can vary widely depending on the company and its development stage.

To build this ranking, we applied a structured valuation methodology and cross-checked information across multiple reliable sources.

Whenever possible, we relied on direct disclosures. These include announced valuations from completed funding rounds, public filings for listed MedTech companies, or official acquisition prices.

When a MedTech company is publicly listed, we use its current market capitalization as the reference valuation.

If a company was acquired and no independent valuation can reasonably be estimated today, we use the acquisition price as the main reference point.

When a MedTech startup recently raised capital but the valuation was not disclosed, we estimate the implied valuation using typical dilution levels for that fundraising stage.

In some cases, we also estimate valuations using operating metrics such as revenue, recurring software revenue, device sales, installed systems or customer traction. We combine these indicators with valuation multiples from comparable MedTech companies.

When direct financial data is not available, we may rely on carefully selected comparable startups and other signals such as regulatory progress, clinical results, reimbursement, commercial adoption, hiring growth, investor quality or product traction.

All estimates follow a strict evidence hierarchy. Recent funding rounds with announced valuations carry the most weight, followed by public market information, acquisition values, strong operating metrics and comparable company analysis.

We also carefully evaluate the age of every data point. Recent information carries more weight, while older data is treated cautiously and adjusted conservatively when necessary.

Whenever information is uncertain or incomplete, we clearly distinguish between confirmed facts and reasonable inferences.

Because MedTech valuation data is not always fully public, each startup in the ranking is assigned a confidence level based on the reliability, recency and consistency of the available evidence.

Full confidence means the valuation is supported by strong and recent evidence. Strong confidence means the estimate is well supported but includes minor inference. Partial confidence means the estimate relies more heavily on indirect signals. Low confidence means available information is limited or inconsistent.

When confidence is lower, we take a more conservative approach by widening the valuation range. This helps reflect the uncertainty and increases the probability that the true valuation falls within the estimated range.

In a world where LLMs hallucinate and unreliable information is everywhere, our goal is simple: provide data you can trust.

If you want the full detail on a specific valuation estimate, feel free to contact us and we will gladly explain.

Finally, know that we update the dataset once per month, so come back here if you need fresh information.

Related blog posts

- What are the key fundraising trends in the MedTech market?

- The most heavily funded startups in the MedTech market

- What does funding activity look like in the MedTech market?

- A complete overview of funding deals in the MedTech market

Who is the author of this content?

NEW MARKET PITCH TEAM

We track new markets so founders and investors can move faster

We build living “market pitch” documents for emerging markets: from AI to synthetic biology and new proteins. Instead of digging through outdated PDFs, random blog posts, and hallucinated LLM answers, our clients get a clean, visual, always-updated view of what’s really happening. We map the key players, deals, regulations, metrics and signals that matter so you can decide faster whether a market is worth your time. Want to know more? Check out our about page. You can also follow us on Instagram or on Facebook.

How we created this content 🔎📝

At New Market Pitch, we kept seeing the same problem: when you look at a new market, the data is either missing, paywalled, or buried in 300-page reports that feel like they were written in the 80s. On the other side, LLMs and random blog posts give you confident answers with no sources, and sometimes they just make things up. That’s not good enough when you’re about to invest real money or launch a company.

So we decided to fix the experience. For each market we cover, we build a structured database and update it on a regular basis. We track funding rounds, fund memos, M&A moves, partnerships, new products, policy changes, and the real activity of startups and incumbents. Then we turn all of that into a clear “market pitch” that shows where the opportunities are and how people actually win in that space.

Every key data point is checked, sourced, and put back into context by our team. That’s how we can give you both speed and reliability: fast coverage of new markets, without the usual guesswork.

Back to blog