Funding Round
Nalu Medical raises $105M Series C for smallest SCS system global expansion
MedTech Dive3/3/2026·03/03/26🌐 USA
Summary
Carlsbad-based Nalu Medical closed a $105M Series C led by Deerfield Management, with Baird Capital, Endeavour Vision, and Medtronic Ventures. The microscale neurostimulator — the world's smallest rechargeable SCS device — has received CE mark and PMDA approval. The round funds US commercial scale-up, European direct sales force, and Japanese distributor network.
Why it matters
Medtronic Ventures participating in Nalu's C-round is a notable strategic signal — the world's largest neuromodulation company investing in a direct competitor suggests either a future acquisition interest or a technology hedge. Nalu's miniaturization IP is genuinely differentiated.
#Industry#Neurostimulation#Spinal Cord Stimulation#USA#Venture Capital
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