Nervonik Raises $13 Million in Series A Financing to Advance Next-Generation Peripheral Nerve Stimulation for Chronic Pain Relief
- Editor
- Mar 4
- 1 min read
Whats Happening:
Nervonik, a medical device company developing an opioid-free peripheral nerve stimulation (PNS) system, has successfully closed a $13 million Series A funding round. The round was led by U.S. Venture Partners (USVP), with participation from Foothill Ventures, Correlation Ventures, and other investors. This funding follows Nervonik's earlier $4.4 million in SAFE and convertible note financings from various investors.
Key Moves:
Nervonik secures $13 million in Series A funding
Funding led by U.S. Venture Partners with participation from other investors
Nervonik completes first-in-human clinical study of PNS technology
By The Numbers:
$13 million raised in Series A funding
$4.4 million previously raised in SAFE and convertible note financings
Over 50 million people in the U.S. affected by chronic pain
Key Quotes:
"We are excited to receive this strong support from top institutional investors as we push forward in advancing peripheral nerve stimulation technology," said Aydin Babakhani, PhD, founder and CEO of Nervonik.
"This financing advances our mission to bring a novel solution to millions of people suffering from chronic pain."
Bottom Line:
Nervonik's successful Series A funding round of $13 million positions the company to advance its innovative opioid-free peripheral nerve stimulation technology for chronic pain treatment. With the completion of its first-in-human clinical study and strong investor support, Nervonik is poised to make significant strides in addressing the needs of millions suffering from chronic pain, targeting a multibillion-dollar market opportunity.
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