Inova is a privately held medical device company focused on developing innovative products for the Chronic Obstructive Pulmonary Disease (COPD) market.
Capital from the round, which marks the firm’s first investment through its Gilde Healthcare III vehicle, will be used to fund the commercial launch of Texas-based Inova’s LifeChoice Portable Oxygen Concentrator System, and to bring its next generation devices to market.
Latterell Venture Partners also joined the round, accompanied by existing investor Three Arch Partners. Geoff Pardo of Gilde Healthcare Partners will join the board of directors at Inova Labs.
Last month Gilde announced it had raised more than €50m for Gilde Healthcare Services, the fund it launched two years ago to capitalise on the Dutch medical start-up market.
The fund, which invests in specialist clinics, elderly care, primary care, disease prevention, mental health, service laboratories and other healthcare service sectors, has already made a number of investments in the Dutch healthcare market.
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