Medical Device Company Rapid Medical Raises $20 Million

Medical device company Rapid Medical Ltd. announced Tuesday it has closed a $20 million series C round led by JAM Capital Partners and medical device company MicroPort. Rapid Medical intends to use the proceeds for clinical trials and product development, and for commercial growth, particularly in the U.S. To date, Rapid Medical has raised $29 million, according to Pitchbook.

Founded in 2008 and based in northern Israeli tech hub Yokneam, Rapid Medical develops devices for stroke treatment and prevention. Its products are approved in Europe, and the company is currently working towards receiving approval in the U.S.

Rapid Medical has also announced an agreement with MicroPort that will see the latter market Rapid Medical’s products for the removal of blood clots from the brain in China.