Botox Alternative Startup SofWave Raises $8.4 Million

Israel-based SofWave Medical Ltd., a company developing non-invasive ultrasound technology for skin tightening, has raised $8.4 million, the company announced Tuesday. The round was led by Tel Aviv-based investment firm XT Hi-Tech and Israeli medtech entrepreneur Shimon Eckhouse, who founded Syneron Medical Ltd., acquired in 2017 by Apax Partners Worldwide LLP for $397 million.

Founded in 2015, SofWave develops ultrasound technology that targets specific layers of skin that cause controlled thermal injury resulting in the tightening of the skin, to reduce wrinkles. The company has tested its technology in a 60 patient clinical study in the U.S., and has received EU regulatory approval (CE Mark), the company said.