Convertible Note Funded Health Care Startups
Across the 13 most recent health care convertible-note rounds shown (latest dated 2022-09-05, oldest dated 2021-08-01), one disclosed amount stands out: Pr…
Across the 13 most recent health care convertible-note rounds shown (latest dated 2022-09-05, oldest dated 2021-08-01), one disclosed amount stands out: ProSomnus Sleep Technologies’ $30M on 2022-08-26 dwarfs the next-largest disclosed rounds of $20M (Ulab Systems, 2022-03-03) and the $7M General Fluidics round (2021-08-01). Several other disclosed rounds cluster in the $2M–$4M band (e.g., Adamas One $4M on 2022-08-29; Turn Medical $4M on 2022-02-16; metaMe Health $2M on 2022-03-15), while two very small disclosed entries include Yana’s $100K on 2021-12-12 and Multiwave Technologies’ $1M on 2022-09-05.
Timing and geography are also concentrated. Most rounds fall within a tight late-2021 to mid-2022 window, with multiple events in December 2021 (Sami $20M on 2021-12-14; FastFarma $2M on 2021-12-12; Yana $100K on 2021-12-12) and several more in March 2022 (Ulab Systems $20M on 2022-03-03; OmniLife $1M on 2022-03-01; metaMe Health $2M on 2022-03-15). U.S.-based companies account for the bulk of cities listed (e.g., Pleasanton, CA; Menlo Park, CA; Chicago, IL; San Antonio, TX; Lexington, KY; Eden Prairie, MN; Cambridge is UK rather than the U.S.), with only a few entries outside the U.S. (Geneva, Switzerland; Cambridge, UK; São Paulo, Brazil; Quito, Ecuador; Mexico City, Mexico).
Most recent rounds
13 shownRelated listings
Frequently asked
What’s the largest disclosed convertible-note round in this list, and how does it compare to the rest?
ProSomnus Sleep Technologies’ $30M round dated 2022-08-26 is the clear disclosed outlier. The next-largest disclosed amounts are $20M (Ulab Systems on 2022-03-03) and $7M (General Fluidics on 2021-08-01), with many other disclosed rounds sitting at $4M or below (e.g., Adamas One $4M on 2022-08-29; Turn Medical $4M on 2022-02-16).
Do the rounds cluster in a specific time window, based on the round dates shown?
Yes. There are multiple entries in December 2021 (Sami $20M on 2021-12-14; FastFarma $2M on 2021-12-12; Yana $100K on 2021-12-12) and multiple in March 2022 (OmniLife $1M on 2022-03-01; Ulab Systems $20M on 2022-03-03; metaMe Health $2M on 2022-03-15). The list spans from 2021-08-01 to 2022-09-05, with most dates concentrated in late 2021 through mid 2022.
Which cities or countries appear to be over-represented among the 13 rows?
Cities aren’t repeated in this excerpt, but the U.S. appears repeatedly via different metro areas: Pleasanton (ProSomnus, $30M on 2022-08-26), Menlo Park (Ulab Systems, $20M on 2022-03-03), Chicago (metaMe Health, $2M on 2022-03-15), San Antonio (Turn Medical, $4M on 2022-02-16), Lexington (OmniLife, $1M on 2022-03-01), and Eden Prairie (Abilitech Medical, $3M on 2021-10-21). Non-U.S. entries include Geneva (Multiwave Technologies, $1M on 2022-09-05), Cambridge UK (Healthera, undisclosed on 2022-07-07), São Paulo (Sami, $20M on 2021-12-14), Quito (FastFarma, $2M on 2021-12-12), and Mexico City (Yana, $100K on 2021-12-12).
How much of the list has undisclosed amounts, and does that affect outlier detection?
One of the 13 rows is undisclosed: Healthera on 2022-07-07. Because that value isn’t quantified, the disclosed outlier analysis rests on disclosed amounts only, where ProSomnus’ $30M (2022-08-26) is far above the next-largest disclosed values of $20M and $7M.
Which entries are most extreme on the low end of disclosed amounts?
The smallest disclosed round shown is Yana’s $100K on 2021-12-12, followed by Multiwave Technologies’ $1M on 2022-09-05 and OmniLife’s $1M on 2022-03-01. This $0.1M–$1M low-end cluster contrasts with several mid-to-high disclosed rounds such as Sami $20M (2021-12-14), Ulab Systems $20M (2022-03-03), and ProSomnus $30M (2022-08-26).
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