What is SpectraWAVE?
Founded in 2017, SpectraWAVE is a privately held medical device company dedicated to improving outcomes for patients with coronary artery disease (CAD). The company's flagship product, the HyperVue Imaging System, represents a significant advancement in diagnostic technology by integrating next-generation DeepOCT imaging with near-infrared spectroscopy (NIRS).
Designed specifically for the cardiac catheterization lab, the HyperVue system serves as a central hub for clinical decision-making. By providing interventionalists with unrivaled optical and computational insights, SpectraWAVE addresses the critical need for precision in percutaneous stent placement, where adverse events remain a persistent challenge for one in five patients. The company's focus on high-fidelity imaging and optimized clinical workflows establishes it as a pivotal player in the medical technology sector.
How much funding has SpectraWAVE raised?
SpectraWAVE has raised a total of $63.2M across 2 funding rounds:
Series A
$13.2M
Series B
$50M
Series A (2021): $13.2M with participation from Deerfield Communications Inc
Series B (2024): $50M led by Johnson & Johnson Innovation, Lumira Ventures, and Heartwork
Key Investors in SpectraWAVE
Johnson & Johnson Innovation
Johnson & Johnson Innovation is a pharmaceutical manufacturing company that focuses on positively impacting human health through innovation. The firm partners with early-stage businesses to develop healthcare solutions that improve lives globally through a network of regional innovation centers.
Lumira Ventures
Lumira Ventures is Canada's largest life sciences venture capital firm, specializing in investments in healthcare innovators across various stages. The firm partners with mission-driven entrepreneurs to develop and commercialize impactful products aimed at improving patient outcomes.
Heartwork
Heartwork Inc specializes in designing and manufacturing modern workspace solutions tailored for creative cultures. The company serves diverse sectors, including healthcare, by providing thoughtfully designed storage and infrastructure that enhances workplace efficiency.
What's next for SpectraWAVE?
With the successful closure of this major enterprise-level funding, SpectraWAVE is poised to accelerate the commercial deployment of the HyperVue Imaging System. The strategic roadmap likely includes expanding the system's footprint in major cardiac centers and investing in further R&D to enhance its computational capabilities. As the company transitions from a development-focused entity to a scaling commercial enterprise, the focus will shift toward clinical adoption and long-term data collection to validate the system's impact on patient outcomes. This capital provides the necessary runway to solidify its market position and continue its trajectory as a leader in cardiovascular diagnostic innovation.
See full SpectraWAVE company page
